[Part 3] Looking Ahead: Successful Strategic Planning After COVID-19

[Part 3] Looking Ahead: Successful Strategic Planning After COVID-19

Tools to Revive your Planning Strategy 

By Lee Ann Lambdin 

With this final post in our series on how to adjust and renew your approach to strategic planning in the wake of COVID-19, we’re discussing what tools you can utilize to support your efforts. If you missed the first two posts, click here to learn how to effectively use 2020 data, and here for suggestions on how to refocus priorities upended by COVID-19.

If you’re at the point of revisiting your 2021 strategy, or taking steps to set the course for what strategy should look like post-COVID, then the tools shared in this post will help you along the way.

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Tools to Revive Your Planning Strategy

It’s quite possible that you won’t be able to use your pre-COVID strategic plan as a launching point to move forward. Unfortunately, those plans will likely need to be scrapped altogether. Planners must take into account the seismic shifts that have occurred and make some educated decisions about which new trends are here to stay. You’ll need to alter your decision-making process with the radically altered healthcare landscape in mind. You also may need to tap into new resources to be effective. Below are a few strategies and tools to consider:

Reimbursement rate analysis: Planners will be considering moves into new markets or the expansion of their hospital’s presence in a current location. By studying reimbursement rate trends of a market, when increasing your focus in areas such as telehealth, for instance, you’ll be able to more effectively price services and ensure the best ROI possible. Stratasan’s Market Reimbursement Analyzer provides this level of intelligence, allowing for analysis by payer, provider, and service line so planners can accurately gain insight into their financial opportunity. 

Real-time data visualizations: While volume trends from 2020 will be unreliable, it will still be important to track such data moving forward. Stratasan’s Launch Pathway clearly shows where volume is increasing or decreasing, your service area’s demographic makeup, and what service lines are being utilized. Users of this tool can plan in real-time with the support of data insights that update as new information is available. 

Care continuum insights: Data insights into a patient's entire continuum of care, along with physician referrals and alignment, will soon be available through Stratasan’s Focus Pathway. (If you want to learn more about Focus Pathway as it becomes available, then sign up here.) With an increasing need to track shifting patient patterns, this tool will be critically valuable in the months to come.

The Takeaway

We’re all still dealing with the impact of COVID-19. It isn’t fully in our rear-view, yet. But strategic planners are always in the position of looking to the future, preparing for what’s to come. With vaccinations in full swing, there’s hope that COVID-19 will soon require less of our attention. With that in mind, planners must be assessing how they will use the irregular data from the past year, where their focus must shift as a result of new patient patterns that have occurred, and what new tools they will need to use in order to begin planning for the future. 

If your team can use additional support navigating the shifting healthcare data landscape and determining how to plan for the future, then schedule a time to talk with one of our data experts. Receive guidance on how to leverage 2020 data effectively and learn more about how Stratasan’s software and service will afford insights that can help you grow.

Article by Lee Ann Lambdin, SVP, Strategic Advisory Services for Stratasan

Mastering-Reimbursement-Negotiations

 

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