How Leaders Can Look Within for Answers
By Morgan Atkins
With healthcare reimbursement constantly changing, health systems and hospitals are searching for new revenue streams to diversify their income. Financial cuts, new regulations, and payer contract negotiations have pushed healthcare institutions to find new, creative ways to keep revenue flowing while still maintaining high quality care.
“Exploring diversified, innovative revenue streams” was listed as third most important issue of strategic importance in a recent survey of 146 C-suite executive. A Becker’s Hospital Review article covering this survey shared that “C-suite executives at both health systems and community hospitals are shifting their focus to nontraditional sources of growth rather than relying solely on conventional determinants of market share.”
Read More
Tags:
service area growth,
service line growth,
leadership,
healthcare leadership,
innovation,
revenue
Key Considerations for Proactive Healthcare Planners
By Gavin Chance
A 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.
Read More
Tags:
healthcare service area,
service area,
service area growth,
hospital service area
Drive Growth and Provide Quality Care to the Right Patients
By Sara Handa
Hospitals have long used service line development to provide easily accessible, quality care to well-defined patient populations. While vital to growth, these development efforts can be risky and often require 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 that will ultimately grow your market share and meet patient needs. 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.
Read More
Tags:
growth planning,
healthcare service area,
healthcare service line,
service area,
service area growth,
service line growth,
hospital service area,
hospital growth
By Lee Ann Lambdin, Taylor Smith, and Jackie DeGroat
Why It’s Critical for Measuring Progress, Driving Growth, and Meeting Goals
A Playbook for Independent Hospitals and Small Health Systems
Read More
Tags:
strategic growth,
strategic growth planning,
healthcare,
healthcare strategic growth,
analytics partner,
healthcare service area,
service area growth,
data analyst,
healthcare analyst
By Lee Ann Lambdin
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.
Read More
Tags:
strategic growth,
strategic growth planning,
conference,
healthcare,
healthcare conference,
healthcare strategic growth,
SHSMD,
analytics partner,
service area growth,
shsmd17
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.
Read More
Tags:
Blog,
strategic planning,
demonstration,
health care,
healthcare,
Market Share,
market share,
healthcare market share,
healthcare service area,
market share growth,
service area growth
