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
By Gavin ChanceA well-defined service area assists with targeted marketing and physician business development efforts. It can also help identify who your true competitors are by service line.
Market transitions and population shifts can alter your service area. These changes can sometimes be subtle, but still come with noteworthy effects. It’s important to pay attention to the signs that indicate change and be ready to reassess your service area definitions when appropriate. In this post, we’ll discuss three important signs to watch for.
While vital to growth, service line development can be risky and typically requires a significant time and financial investment. In order to minimize risk and expand your service offerings more effectively, hospitals need reliable, data-based intelligence to guide their efforts.
In this post, we consider four ways to identify pockets of unmet demand and consider how to add new facilities in these areas. We’ll highlight some common mistakes providers often make and discuss how to get a more detailed understanding of your patient population so you can focus on the right service line growth opportunities.
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 ends—growth 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.
By Lee Ann Lambdin and Monika O’Clair
In 2017, Huggins Hospital had a fairly new leadership team and an outdated strategic plan. Given the ever-changing healthcare environment, their plan needed to be updated to reflect the new landscape.
Huggins realized it would be valuable to bring in an outside partner—someone who could bring a fresh perspective and innovative ideas—to guide them through the process. They were looking for a nimble planning process and techniques for seeking meaningful, diverse input into the strategic plan—all of which they found in their partnership with Stratasan.
Most marketing, strategic planning, and physician relations teams recognize the value of tracking the ROI of their outreach efforts, but it's challenging to do. This is especially true for independent hospitals and small health systems.
But for these smaller healthcare providers, it's especially important that they strategize and track success in tandem, because they don't have the money or bandwidth to duplicate efforts, nor the support of a corporate office or hospital support center.
The Society of Healthcare Strategy & Market Development (SHSMD) annual conference is the biggest healthcare strategy conference nationwide. As stated on their website, it is “the premier conference for healthcare marketing, public relations and communications, and strategic planning professionals.” Headed into its 21st year, SHSMD Connections 2017 is taking place September 24 - 27 in Orlando, FL.
With an estimated 1,400+ healthcare marketing, public relations and communications, and strategic planning professionals on-site, 60 sessions to choose from, 8 targeted learning tracks, and more than 4 hours worth of keynote sessions, this conference can easily be an enriching experience for attendees, but it can also feel like you’re drinking from a firehose.