A HealthRedesigned Podcast
By Jason Moore
The rapid progression of healthcare means it’s more important than ever for hospitals to understand how they should evolve. The need for the right data to make the best strategic decisions possible has become a critical component to growth.
Through our applications and our services, Stratasan makes it easier for hospitals and healthcare systems to turn their data into intelligence and make data-based decisions that’ll help them grow strategically and stay competitive.
I recently chatted with Jon Lay, Founder at Hanno, and discussed these ideas, which were recorded in this podcast conversation.
Stratasan divides the strategic growth process into three steps for our clients:
- Discovery: This is the process of understanding what our client’s patient population and service area look like. What kind of presence do they have in their marketplace? Who are their competitors? How are they trending within a particular service line or product line? Through the insights derived from our apps and services, we help our customers gain a strong understanding of their standing within the marketplace. From there, our customers can make choices about where and how they want to grow—this could mean product line or service line expansion or filling geographic voids. Once growth goals are set—there are usually 2-5 growth initiatives in a given year—we help our customers micro-target into their patient population. For instance, if they have 40 ZIP codes representing their patient area, we help them micro-target and identify the pertinent patient populations relevant to their growth initiatives.
- Execution: Once the pertinent patient populations have been identified, we work with the following teams to support their execution efforts:
- Marketing: Our insights equip marketing teams on how they should speak to their patient populations in a way that will resonate and get the desired response.
- Physician Relations: We help our customers uncover what physicians are already serving their pertinent patient populations so they can create a plan of action for partnering with those physicians.
- Expansion: We help business development teams determine if there is a geographic void to be filled—somewhere they need to place new inventory in the marketplace.
- Tracking: This step in the growth process involves reviewing the progress that has been made to determine if the changes made are working. Are growth goals being met? Were the right decisions made to reach the pertinent patient population? Where are improvements needed?
Tracking progress quarterly and annually inevitably leads the conversation back into the discovery phase, and the cyclical nature of the strategic planning process should ensue. Strategic planning is most effective in facilitating growth when it is approached as an ongoing process, rather than a once a year event.
Throughout this podcast, we also discussed the following topics:
- Empowering healthcare systems to make better decisions: How did Stratasan start and what problems are we trying to solve?
- How can hospitals better serve their patient populations? It starts by understanding who they are in the marketplace, what their patient population looks like, who the other players are in their market, where they can best thrive and where they can best serve their population by filling gaps or increasing services.
- Dealing with an influx of data: Hospitals have more and more data coming into the system now, compared to five years ago. How are hospitals adapting to this change?
Even with abundant access to data, engaging in strategic planning is often not the biggest priority for hospitals. Additionally, when strategic growth decisions as made, they are often based on gut reactions and very little data and information. Our goal is to change that. With our software and services, we are helping hospitals access information and intelligence that can empower them to make better strategic decisions.
For more information on a partnership with Stratasan, request a discovery call with Sean Conway today. Sean will demonstrate how Stratasan can support your strategic planning, management, and growth through a combination of customised software and hands-on consulting.
Article by Jason Moore, Founder & CEO of Stratasan