How Leaders Can Look Within for Answers
By Morgan Atkins
With healthcare reimbursement constantly changing, health systems and hospitals are searching for new revenue streams to diversify their income. Financial cuts, new regulations, and payer contract negotiations have pushed healthcare institutions to find new, creative ways to keep revenue flowing while still maintaining high quality care.
“Exploring diversified, innovative revenue streams” was listed as third most important issue of strategic importance in a recent survey of 146 C-suite executive. A Becker’s Hospital Review article covering this survey shared that “C-suite executives at both health systems and community hospitals are shifting their focus to nontraditional sources of growth rather than relying solely on conventional determinants of market share.”
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Tags:
service line growth,
service area growth,
innovation,
healthcare leadership,
leadership,
revenue
By Morgan Atkins
Within healthcare organizations, teams are now a fundamental unit of organization. One study, published in The Harvard Business Review, found that ‘‘the time spent by managers and employees in collaborative activities has ballooned by 50 percent or more’’ over the last two decades and that more than three-quarters of an employee’s day is spent communicating with colleagues at many companies.
With the emphasis on teamwork, it’s important for the practices of these teams to be thoughtfully considered. Particularly, the common and important team effort of brainstorming new ideas together. “Studies show that people working in teams tend to achieve better results and report higher job satisfaction.” The New York Times Magazine reports. Knowing that, we wanted to discuss how brainstorming can be an effective team experience.
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Tags:
brainstorming,
strategic planning,
strategic growth plan,
growth mindset,
growth planning,
strategic growth planning,
team
Practical Tips for Maintaining a Growth Mindset in your Organization
By Morgan Atkins
Stratasan understands how paramount change is to progress. We strive to be trailblazers in the healthcare space, developing innovative tools and services that address our clients' growth goals. The best way we can effectively lead our clients and provide value is by innovative thinking that challenges the status quo. Our goal is to empower our customers with the strategies that will equip them to more effectively face a challenging and ever-evolving healthcare industry.
At the heart of innovation is the ability to reframe your perspective. Henry Ford once said "If I had asked people what they wanted, they would have said faster horses." Often, the question itself limits what you think the possibilities are. If you have an open mind about the possibilities, you maximize your chances of building effective and unexpected solutions.
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Tags:
hospital growth,
core values,
development,
healthcare leadership,
leadership,
change,
healthcare trends,
healthcare growth,
working smarter,
strategy,
strategic planning,
strategic growth planning,
healthcare strategy,
growth,
growth planning
By Morgan Atkins
The pressure to compete and expand market share is at an all-time high.
Providers in many markets are feeling the impact of reduced patient payments, competitor maneuvers, and new market entrants. When trying to determine the best expansion opportunities, hospitals and health systems often develop growth plans based upon instinct, local knowledge, or raw market data.
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Tags:
strategic growth,
strategic growth planning,
healthcare strategic growth,
healthcare,
strategic planners,
strategic planning,
data,
big data
By Morgan Atkins
In the healthcare industry, marketing professionals and strategic growth planners are tasked with the important job of creating stories out of data—the art of visualization. You must take rows upon rows of data and transform it into an easily digestible format—a skill that when executed properly, is extremely valuable. Anyone can create a bar graph, but the ability to create visualizations that are meaningful and insightful is an art form.
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Tags:
data,
health data,
data visualization
The pressure to compete and expand market share is at an all-time high for hospitals and health systems. Providers in many markets are feeling the impact of reduced patient payments, competitor maneuvers, and new market entrants. Looking for new opportunities for service area growth, hospitals and health systems often rely on their instincts, local knowledge, or attempt to draw guidance from raw market data. Too often, these tactics lead to frustrating ends—growth plans that prove unsuccessful and year-end budget frustration.
New, trackable strategies must be enacted for the growth and change that is needed. Consideration of these five key areas will allow your hospital or health system to identify the best potential opportunities within a service area and guide your team toward more productive growth strategy and planning.
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Tags:
Blog,
demonstration,
health care,
healthcare,
healthcare market share,
healthcare service area,
Market Share,
market share,
market share growth,
service area growth,
strategic planning
With so much competition for patients among healthcare providers, picking a convenient, attractive spot for your new facility is crucial. As covered in an earlier post, we’ve considered six key factors for the successful placement of a new primary care or urgent care clinic. In this post, we will take a deeper look at the sixth consideration: demographics.
If you are not targeting the right demographic for your clinic, all other considerations are essentially irrelevant. To look at it another way, all five of the other considerations are dependent upon demographics. It doesn’t matter how good parking is if the patients you are hoping to attract won’t come to that area. If your proposed clinic doesn’t have any competition, that could be because your competition is right in the heart of your target demographic while your location is outside the viable radius (or perhaps it’s the other way around).
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Tags:
Blog,
health care,
healthcare,
hospital location,
medical care,
medical clinic,
medical needs,
primary care,
primary care clinics,
site placements,
strategic planning,
urgent care,
urgent care clinics
Strategic Planning and Site Placements
Picking the right location is a challenge for any hospital or health system looking to grow strategically through a new site placement. Coffee shop locations provide a simple, yet appropriate, illustration: A hip, new coffee shop serving delicious drinks is forced to close their doors after just six months because it was in the wrong geographic location and couldn’t generate enough business. Perhaps people didn’t bother trying it because it was too far “off the beaten path.” Or, potential customers found themselves stuck in traffic created by a line of cars waiting to turn into a popular café parking lot. Or maybe there were four other coffee shops within a square mile. Either way, you see the point: whether it’s coffee or medical care, people tend to make purchase decisions based off of location and convenience.
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Tags:
Blog,
health care,
healthcare,
hospital location,
medical care,
medical clinic,
medical needs,
primary care,
primary care clinics,
site placements,
strategic planning,
urgent care,
urgent care clinics
