Healthcare Strategic Growth Blog

4 Ways to Identify Service Line Opportunities

Posted by Sara Handa on Oct 16, 2018 10:27:46 PM

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.

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Tags: service line growth, service area growth, hospital service area, service area, healthcare service line, healthcare service area, hospital growth, growth planning

Innovative Solutions to the Healthcare Revenue Crisis

Posted by Morgan Atkins on Aug 28, 2018 3:08:58 PM

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.”

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Tags: service line growth, service area growth, innovation, healthcare leadership, leadership, revenue

A Comprehensive Approach to Service Line Growth: Recorded Webinar

Posted by Jennifer Keller on Dec 19, 2016 2:33:33 PM

Have you been tasked with the growth of a particular service line or want to reach a larger population with your services?

If so, you don’t want to miss this recorded webinar session!

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Tags: Blog, health care, healthcare, healthcare service area, healthcare strategic growth, healthcare strategy, patient volume, service line growth, strategic growth, strategic planning, webinar

A Comprehensive Approach to Service Line Growth: Product Line Toolkit Webinar

Posted by Jennifer Keller on Nov 1, 2016 11:14:41 AM

Without reliable, data-based intelligence, it is difficult to create actionable and measurable strategies for growing a service line.

In this webinar, Drake and Sean cover the various challenges to growing a service line and potential solutions, as well as looking at how Stratasan's Product Line Toolkit can help in these efforts.

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Tags: Blog, growth, health care, healthcare, healthcare growth, healthcare service line, marketing, service line growth, strategic growth, strategic growth planning, strategic planning, training, webinar

How to Drive ROI: Creating Marketing Campaigns that Work

Posted by Jennifer Keller on Oct 17, 2016 10:28:15 PM

Mass marketing, shotgun marketing, spray and pray marketingcall it what you like, but if your marketing strategy can be described in any of these ways, you’re likely wasting valuable money, creating marketing programs with no trackable ROI, alienating large patient groups, and missing opportunities to connect with your preferred population.

Shotgun marketing can be defined as an attempt to raise awareness about a product or service to a large, non-specific group of people, rather than advertising to a specific demographic. There’s a chance that your marketing could hit the right population group, but there’s no guarantee. Not to mention that if you do, there’s likely to be a lot of waste. With this approach, there is no data-based assurance that you’re aiming for patients who actually need the service your hospital is offering.

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Tags: Blog, health care, healthcare, healthcare marketing, healthcare strategic growth, hospital strategic growth, marketing, marketing research, service line growth, strategic growth, targeted marketing

What’s Going on inside the Heart of Cardiac Services?

Posted by The Stratasan Team on Mar 12, 2013 9:24:02 AM

Recently, we performed an analysis for a customer on cardiac services trends.  Based on previous studies, we knew cardiac inpatient services were declining overall.  However, we discovered that inside cardiac services many of the sub-service lines behave quite differently; many declining but some actually increasing.  We analyzed all-payer data from Florida, Texas and California alongside full U.S. Medicare data and discovered a deeper understanding than “inpatient cardiac services are declining.”

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Tags: service line growth, healthcare service line, healthcare trends

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