Practical Guidance for Marketers and Planners Trying to Navigate Change
Healthcare mergers and acquisitions across the US continue at a rapid pace. According to Becker's Hospital Review, about $2.35 trillion in deals occurred globally [in 2018], up 57 percent compared to the same period last year. “Whether it’s hospitals buying up independent medical practices, hospital systems swallowing one another, or insurance companies merging with pharmacy chains, the prevailing attitude now is that bigger is better,” Medical Economics.
Gist Healthcare recently shared this graphic, which highlights how consolidated the hospital sector has become. Gist’s graphic displays how health systems account for more than 90 percent of all discharges in the US, with the largest 11 systems accounting for a quarter of discharges, and the largest 67 accounting for half.
How can healthcare strategic planners and marketers stay focused, yet flexible, during these times of consolidation and change? This post provides practical tips for how to deal with the inevitable challenges that will come during an integration. Key elements include:
- Uniting separate strategies
- Managing and merging multiple brands
- Using your influence to affect change