Adapting Your Growth Strategy to Meet the Needs of Aging and Racially and Ethnically Diverse Patient Populations
By Michael Shipley
Senior Product Manager
By Michael Shipley
Senior Product Manager
Tags: Blog, physician referral, Stratasan, strategic growth, strategic growth planning, strategic planning, data analytics, data-driven decisions, data strategy, growth planning, health care, health data, health strategist, health strategy, health system, health systems, healthcare, healthcare budget, healthcare planning, healthcare strategic growth, healthcare strategic planning, healthcare strategy, healthcare systems, hospital, hospital planning, hospital strategic planning, hospital strategy, hospitals, Inpatient Statistics, markeitng, Market Share, nashville, Physicians, Population Health Management, referral data, referrals, healthcare market share, marketing research, patient population, service area growth, service line growth, strategic growth plan, physician outreach strategy, Hospital growth plan, healthcare leadership, healthcare market data, hospital growth, physician patterns, patient experience, customer experience, physician strategy, diversity, data confidence, outmigration, physician referral leakage, outpatient, HOPD, 2022, Patient Origin, Syntellis, healthcare annual planning
The trials of 2020 have left many in the healthcare industry searching for ways to diversify their income. Due to COVID-19, hospitals across the nation are estimated to lose $200 billion between March 1 and June 30, according to a report from the American Hospital Association. This current financial strain and shaky future prospects are pushing healthcare institutions to find creative ways to keep revenue flowing while still maintaining high-quality care.
Becker’s Hospital Review cites the reimbursement landscape challenges and dwindling patient volumes as two main factors leading at least 29 hospitals across the U.S. to file for bankruptcy this year. In this post, we’ll consider how hospital leaders can turn these leading indicators of distress into golden opportunities for growth.
By Brian Dailey
I recently finished David McCullough's "The Path Between The Seas," an overview of the planning and construction of the Panama Canal. The scale of the human effort put into this project is incomprehensible, but there is much to be learned from it about leadership, organizational alignment, and the importance of communication.
One way to think about alignment and communication is partnership. In the lead up to the construction of the canal, William Gorgas was sent to Panama to deal with the problem of malaria and yellow fever. At the turn of the 20th century, many were still skeptical of the connection between these diseases and mosquitoes. When Gorgas tried to advocate for resources to reduce the mosquito population, he was constantly met with resistance and skepticism. Even though it was his job to reduce the tropical diseases that ravaged the canal worker population, he was unable to do so because his peers viewed him as a challenge to be overcome, not a partner in the construction of the canal.
The first Chief Engineer of the canal, John Wallace, saw Gorgas as an annoyance. As an engineer, he was concentrating on "making the dirt fly" and did not consider Gorgas's medical background to be helpful with this effort. It wasn't until John Stevens became Chief Engineer that Gorgas was taken seriously. Stevens viewed Gorgas as a partner in a humanitarian effort. Once Gorgas was given the requested resources he was able to quickly eliminate cases of yellow fever.
Partnership—among individuals, departments, and other organizations—is pivotal to the success of any venture, whether it's placing a new outpatient clinic or connecting the Pacific to the Atlantic over fifty miles of mosquito-infested jungle. So how do we cultivate partnerships?
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.
Tags: strategic growth planning, strategic planning, strategy, growth, growth planning, healthcare strategy, working smarter, healthcare growth, healthcare trends, leadership, change, healthcare leadership, development, core values, hospital growth
Between February 21–22, 2017, a group of senior-level strategic executives gathered in Scottsdale, AZ for the SHSMD Executive Dialogue: Leading Change, an interactive seminar with in-depth dialogue about healthcare strategy and marketing. I had the pleasure to attend the meeting and learn from both presenters and other attendees.
The learning objectives for this event were the following:
With 3 speakers at this conference, one presentation from a sponsor, and an hour of Q&A and discussion after each speaker, there was a great deal of interaction and dialogue between the attendees. There were forty attendees, creating a true sense of intimacy and openness among those in attendance. In short, it was a very worthwhile meeting.