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.
healthcare market share,
healthcare mergers and acquisitions
How to Combat the Trends and Get Patients the Care they Need
By Daniel Dreaden
Research shows that regular check-ins with a primary care provider can lead to early detection of major healthcare concerns. It can also keep chronic problems like diabetes, asthma, and congestive heart failure from turning into emergencies and costly hospital stays. So why then does a 2015 Zocdoc survey show that Americans across the board—especially Millennials—are dropping out of healthcare? These stats may surprise you:
healthcare market data,
Design Thinking, Authentic Demand, and More
By Hank Neuhoff, Stephanie Johnson, and Morgan Atkins
Opioid addiction apps, acuity-adaptable rooms to insertable cardiac monitors, and virtual reality for pediatric patients are among the technology-related issues that healthcare leaders should pay close attention to this year, according to the ECRI Institute's 2018 Top 10 Hospital C-suite Watch List. With the rapidly changing healthcare landscape, it's getting harder to anticipate what’s next. We understand the challenges that come with keeping pace with developing technologies, changing care trends, and evolving patient needs. Yet we also recognize 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.
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.
strategic growth planning,
By Taylor Smith and Anusha Achukola
As we saw in last week’s blog post, many hospitals and healthcare systems are challenged with having too many analyst needs and too few analysts to complete all the work. As an in-house analyst—working on your own or as a part of a team—you are likely facing a long queue of requests and wishing you could somehow find a better solution to keep up with the demand.
As the amount of data that healthcare organizations collect continues to grow at a rapid rate, the volume of information you and your team will be tasked with analyzing will only continue to grow as well. Without the right tools and workflows, you will continue to struggle to balance it all.
In last week’s post we outlined a few suggestions for how to overcome the ongoing healthcare analyst shortage. In this post, we’ll address this same issue—but from your perspective.
Specifically, if you are an analyst buried under a pile of reports to be done, we’ve got some practical ways you can update your workflow and manage your work queue—getting more done in less time and with fewer errors.
I hired a great analyst a few years ago. She was skilled with database programs, understood the complexities of the healthcare market, and had previously been a medical records coder—in short, she was very talented. The longer she was in her position, the more our state data was reported accurately and on a reliable schedule. It was a huge win for me and my team!
Recognizing her capabilities, I asked if she could start running "quarterly standard reports" that present key findings which could influence how our planning, marketing, and business development departments would function and what we would focus on in the weeks and months to come. These quarterly updates would be high-level summaries of our market landscape and would cover everything from our hospital’s market share, trended volume, competitor positions, product lines, payor mix, patient migration patterns and more.
strategic growth planning,
healthcare strategic growth,
healthcare analytics partner,
with Christian Nicholl, and Hank Neuhoff
The Affordable Care Act was implemented to ensure that patients would have access to affordable, high quality, and safe healthcare. Regulations and measures were put in place to make certain that hospitals were meeting these newly implemented standards of care and safety. These standards, known as the Health-Acquired Conditions (HAC) requirements, have led to more in-depth scrutiny into whether hospitals are truly doing everything they can to reduce preventable infections and patient death through unnecessary complications.
A security analyst recently released a report entitled Hospital Market Share Gains and Losses Medicare Top 100 DRGs on June 10, 2014. CMS recently released the top 100 DRGs for Medicare beneficiaries. The analyst makes several interesting assumptions and/or conclusions from the data.
Based on the HHS's self-reported data on people who actually signed up for the Marketplace, the Young Invincibles (8.8%) did not show up to the party. Comparing the actual age segments of the population from 2000 to 2012 shows just how quickly our population is aging and straining the Healthcare system already. The current Marketplace is an inverted pyramid which translates into a very scary fulcrum to keep the balance intact. The theory of population health management states that if we can get enough young healthy people in the base of the pyramid, it will support the demands of the more senior population.
The Pew Foundation put out a very interesting study last week on Chronic Diseases. It was of interest due to the numbers of people who report living with Chronic Diseases and how they are using the Internet to help manage their own personal care. In this ever increasing world of eHealth, the need for apps to manage Chronic Diseases is increasing at a rapid rate. Pew estimates there are now 45% of American Adults living with 1 or more Chronic Diseases.