How Hospitals Can Systematically Kick-start Growth Planning
By Aaron Frazier
Hospital market share is measured by the breadth of services offered, distance to customers, public perception, and physician capacity. While this measurement is valid, it's also becoming increasingly complex to calculate as major shifts happen around how care is delivered.
As discussed in a recent HealthLeaders Magazine article, “To win the market share battle, healthcare organizations must first redefine what it is and then build strategies that take advantage of the shifts in healthcare delivery.” Author Phillip Betbeze explains that the new indicators of market share include patient access (measured in part by ambulatory services growth, physician practices, and other service locations), physician claims data (outpatient surgery volume and growth, traditional office visits, and even telemedicine), and the cohesive network of services that make them a must-have for insurers’ narrow networks.
Strategies for how to measure market share (and plan for growth) must change alongside the shifts in care delivery. Executing a SWOT Analysis of your market share allows you to take into account the many new factors impacting care delivery. This analysis will also provide an actionable outline of where to focus when mapping out your strategic growth plan.
healthcare market share,
market share growth,
How to Foster a Data-Focused Culture
By Jennifer Keller
Gist Healthcare provides a weekly newsletter called the Weekly Gist. A popular read in our office, we find it to be informative and useful for staying on top of the latest healthcare news. In this newsletter, they distill the latest healthcare news, trends, and conversations with industry leaders into actionable guidance for CEOs and senior executives.
A recent excerpt from Gist caught our attention. The CMO of a regional health system shared that: “his personal efforts to champion greater performance transparency and tracking of key clinical metrics made a big difference in [his] system’s impressive results in elevating physician performance.” He went on to emphasize that “getting the doctors addicted to data” was a critical element of his system’s success.
healthcare data analytics,
Effectively Leverage Your Data for Maximum Growth Insights
By Lee Ann Lambdin, Kola Omotade, Tony Camarata
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.
all-payer claims data
Identify How Stratasan’s Software Can Most Effectively Meet Your Needs
Is your team equipped with the right tools to analyze data and execute your strategic plan? Do you have access to the expertise you need when looking to identify growth opportunities? Take this short quiz and identify which tools and services can improve your team alignment and promote strategic thinking.
With this quiz you'll receive:
- Immediate feedback about which of Stratasan's software and services are the right fit for your needs
- Answers about where to turn for improved data intelligence
- Insights about how to more effectively align your team and see growth results
healthcare strategic planning,
hospital strategic planning
What They Are, How to Address Them, and How to Avoid Them
By Hank Neuhoff
Many hospitals and healthcare systems are challenged with having too many analyst needs and too few analysts to complete the work. The massive increase in available healthcare data and our insatiable desire to extract value from that data are both going to continue to grow.
With the increased need for analyst expertise and the shortage of analysts to do the work, we simply cannot afford the cost, time, or trauma of repeating classic analyst missteps. The purpose of this post is to highlight some of the common mistakes analysts make and address how to avoid them.
Stratasan’s Physician Patterns to Offer Expanded Physician Referral Insights
By Dave Sellers and Jason Haley
As you may have heard, CMS Administrator Seema Verma announced that The Centers for Medicare and Medicaid Services is making Medicare Advantage encounter data, which covers provider identifiers, diagnoses and date and type of service, available for the first time to researchers.
This new effort is part of the CMS and White House patient data collaboration, known as MyHealtheData. CMS also plans to encourage Medicare Advantage programs to use release platforms that meet the capabilities of CMS' Blue Button 2.0 feature, which allows patients to access their own claims data. A patient-centered system requires focus on "data, quality data, cost data, a patient's own data," Vema shared.
How does this update affect Stratasan customers, and particularly, those in Medicare-only states: Alabama, Arkansas, South Dakota, Idaho, and Hawaii?
healthcare market data,
healthcare data analytics,
By Lee Ann Lambdin
As a healthcare strategic planner, your time is both limited and valuable. Planning departments are shrinking with the evolution of decision support departments. Strategic planners and marketers alike are facing a new reality that requires them to do more with less. Many who have planning and strategy in their title are responsible for marketing as well. This is due to one of two things:
- Either there was never a planning position at all or strategy has increasingly become a more important function for the hospital or health system so this job was given to the department that made the most sense: marketing.
- Or, the planning position was eliminated over time and the function was consolidated with the marketing function. This is often the case in small systems and independent hospitals, where one person is faced with juggling multiple roles.
healthcare strategic planning,
Hospital growth plan