Healthcare Strategic Growth Blog

Heed these Warning Signs and Prevent Costly Consequences

By Sean Conway

When signing on with an outside partner for strategic growth insights and support, there are a variety of factors to consider, and a few warning signs to heed. Some examples include:

• Will your vendor be a good strategic growth partner for your specific needs?

• Should you choose the partner who can do a little bit of everything, but may not specialize in one area? Or go with multiple partners, each with their own specialty?

• Is your vendor fully HIPPA compliant in how they use patient data?

While there are many variables to consider, in this post we focus on what to look out for and what to avoid. If you notice any of these red flags as you walk through the evaluation process with a new partner, take note, as it could be a warning sign for a less-than-stellar partnership down the line. Any one of these issues could lead to costly consequences that may not seem important early on, but could cause major (and expensive!) problems for your hospital as the relationship progresses.

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.

How to Grow and Stay Relevant in the Evolving Healthcare Space

By Morgan Atkins and Daniel Dreaden

It has been predicted that 2019 will be marked by many changes in the healthcare industry. The progression towards more cost effective and convenient healthcare will continue to motivate mergers and acquisitions that will disrupt the status quo and alter the way consumers interface with this industry.

"In overwhelming numbers, consumers are willing to abandon old [healthcare] models for more efficient, convenient care… We are seeing this go far beyond flu shots." Ceci Connolly, managing director of PwC's Health Research Institute, said during a webinar on the study.

The shifting dynamics of healthcare will continue to drive providers of all sizes to remain flexible and open to new possibilities. Here are four ways hospitals can embrace these changes, stay competitive, and see growth in 2019.

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.

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.

Maintain a Growth Mindset in the Face of Tightening Margins and Shrinking Departments

By Lee Ann Lambdin

As healthcare margins continue to tighten and consolidation remains a reality for many small hospitals, numerous marketing professionals are feeling the need to validate their impact by developing marketing strategies based on reliable, data-based intelligence. The pressure is on to stretch marketing dollars as far as possible, and it’s important for marketing outreach to be focused and data-based. 

Marketers and strategic planners alike are facing a new reality that requires them to do more with less. Many who have marketing in their title are also responsible for planning and strategy as well, and it’s apparent that this phenomenon is due to one of two things:

• Either there was never a planning position 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.