Healthcare Strategic Growth Blog

A More Efficient Way to Boost Revenue and Attract Patients

By Tony Camarata

Historically, market performance has been measured through market share, a single snapshot of patients treated. While market share can be used to measure market position, it fails to deliver the complex intricacies of patient choice, which are vital to improving care delivery. Hospitals planners need better visibility into the full continuum of patient choice in order to deliver the right services for their patients.

Share of wallet provides this added visibility by not only showing the patient treatment snapshot, but also showing everywhere else your patients are utilizing care. These insights will lead your team down the path of determining if you can provide that same care to your patients and potentially attract them to choose your hospital over your competition.

Effectively Leverage Your Data for Maximum Growth Insights

By Angelo Vibar, Tony Camarata and Dave Sellers

Are you asking the wrong questions of the right data; or the right questions of the wrong data? Most healthcare strategic planners understand the value of using data for informed decision making, but many don’t know how to effectively use data—or when to acquire new data—to find the answers they need.

When looking to assess market share or performance, you may feel the datasets you already have access to will provide the answers you need. But what if you don’t have the right data to answer these particular questions? Using the wrong data, you may miss important segments of your population in your analysis and risk using out-of-date or inconsistent data. A new data set all together may be needed to properly address the issues at hand.

There is also great value in being able to trust your data so you can be confident in your decision making. As hospital leaders face mounting financial and operational challenges, it’s critical to have tools that can consolidate and visualize healthcare market data—offering a source of common truth—and speed up the data analysis process. A source of common truth can unify departments around growth goals, metrics, and reliable market intelligence.

Why You Need Both for Growth Planning and Physician Relations

By Haley Attridge, Tony Camarata, Rebecca Groner, Lee Ann Lambdin, and Dave Sellers

Every hospital and healthcare system looking to grow could benefit from reliable, clean, and standardized healthcare patient data. It’s critical for strategic planners and physician liaisons, in particular, to have access to data they can trust when looking to expand offerings, build physician relationships, and improve accessibility to care for their service area.

We recently compared state and CMS datasets and discussed how to sort through the complexities of both to extract valuable insights. If you missed that post, we encourage you to check it out, here.

In this post, we’re analyzing state and all-payer claims data. We’ll explore how these datasets differ, why they differ, and how, when armed with insights from both datasets, planners and liaisons can gain a more complete picture of the opportunities within their market.