Healthcare Strategic Growth Blog

Your Market Share is Increasing - So What?

Posted by Ashley Graham on Mar 21, 2017 11:36:26 AM

Why It’s Critical to Analyze Multiple Market Factors For True Growth Insight

By Ashley Graham

Imagine this scenario: You’re a strategic planner for a healthcare organization, and you discover that your facility has gained market share in your service area. Excited, you put the trended market share into a colorful graph and show it to your executive team.

“Great! So what?

On the surface, this may seem like an odd question. Increased market share is desirable, right?

Well, probably, but by asking ourselves “so what,” we can see that more than just trended market share is needed to provide true strategic value.

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Tags: healthcare market share, Market Share, market share growth, healthcare analytics partner, healthcare, healthcare data, healthcare market data

5 Key Considerations for Hospital Service Area Growth

Posted by Morgan Atkins on Oct 25, 2016 12:14:30 PM

The pressure to compete and expand market share is at an all-time high for hospitals and health systems. Providers in many markets are feeling the impact of reduced patient payments, competitor maneuvers, and new market entrants. Looking for new opportunities for service area growth, hospitals and health systems often rely on their instincts, local knowledge, or attempt to draw guidance from raw market data. Too often, these tactics lead to frustrating endsgrowth plans that prove unsuccessful and year-end budget frustration.

 

New, trackable strategies must be enacted for the growth and change that is needed. Consideration of these five key areas will allow your hospital or health system to identify the best potential opportunities within a service area and guide your team toward more productive growth strategy and planning.

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Tags: Blog, demonstration, health care, healthcare, healthcare market share, healthcare service area, Market Share, market share, market share growth, service area growth, strategic planning

Calculating Adjusted Market Share - accounting for services not offered

Posted by The Stratasan Team on Nov 19, 2013 10:52:37 AM

Is 30% market share "good"? 50%? How about 75%?

What should be your target market share?

These are questions that Strategic Planners and Hospital CEOs wrestle with.  With decades of strategic planning expertise, we have gut feelings when we get to know a market what a target should be.  This article outlines both that gut feel and a mathematical model to help select a target.

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Tags: Market Share, market share growth, healthcare market share, strategic planning, Hospital growth plan

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