Healthcare Strategic Growth Blog

The Annual Strategic Plan is Dead

Posted by Jason Moore on Apr 23, 2019 9:32:53 PM

See Better Results with A Year-Round Planning Process

By Jason Moore

Hospitals have traditionally created an annual strategic plan as a roadmap for achieving growth goals. While well-intentioned and inspiring, this form of planning often fails to produce meaningful results, leading many to question its value. Why repeat a process that doesn’t produce strong results?

Additionally, this routine is greatly driven by annual data reporting—a factor that is changing due to increased adoption of the more frequently updated all-payer claims data (APCD). Stratasan’s APCD updates monthly, for example, allowing for more frequent market reporting that can lead to plan adjustments.

There is also reason to believe that plans will be more widely adopted when more members of the organization are invested in the process. This can be a difficult change in mindset for organizations accustomed to planning that takes place only at the c-suite level.

How can hospitals shift to take advantage of more readily available data insights, ensure greater adoption, and see system growth? The answer is an iterative planning process that invites organization-wide input and applies data-backed market insights.

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Tags: strategic growth, strategic growth planning, strategic plan, strategic planners, strategic planning, hospital strategic growth, strategic growth plan, Hospital growth plan, hospital growth

How to Create a Physician-Focused Growth Strategy

Posted by Jackie DeGroat on Apr 2, 2019 1:59:20 PM

Drive More Patient Volume and Improve Your Bottom Line

By Jackie DeGroat and Megan Reeves

Here’s something you already know: hospitals need physicians in order to drive patient volume. Opening a new service line or expanding an existing one is dependent on successful physician recruitment.

What you may not fully understand is how to involve physicians in a way that engages them at a strategic level. It can be a challenge to incorporate their input, even when you know it’s important to do so. And it can be a particularly difficult prospect for hospitals who have not prioritized this approach in the past, as it means a change to the status quo.

But the reality is that involving physicians in your planning can improve their connection to your hospital and their loyalty to your mission, vision, and values. It can also increase their buy-in, leading them to be more productive and willing participants in service line growth. Additionally, physicians have a firsthand understanding of your patient’s needs. Their input into your strategic growth strategy can lead to better alignment with the needs of your market.

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Tags: physician relations, strategic growth, strategic growth planning, hospital strategic growth, physician recrutiment, strategic growth plan, healthcare physician strategy

6 Pitfalls to Avoid When Choosing a Healthcare Analytics Partner

Posted by Sean Conway on Mar 26, 2019 7:55:00 PM

Heed these Warning Signs and Prevent Costly Consequences

By Sean Conway

When signing on with an outside partner for strategic growth insights and support, there are a variety of factors to consider, and a few warning signs to heed. Some examples include:

  • Will your vendor be a good strategic growth partner for your specific needs?

  • Should you choose the partner who can do a little bit of everything, but may not specialize in one area? Or go with multiple partners, each with their own specialty?

  • Is your vendor fully HIPPA compliant in how they use patient data?

While there are many variables to consider, in this post we focus on what to look out for and what to avoid. If you notice any of these red flags as you walk through the evaluation process with a new partner, take note, as it could be a warning sign for a less-than-stellar partnership down the line. Any one of these issues could lead to costly consequences that may not seem important early on, but could cause major (and expensive!) problems for your hospital as the relationship progresses.

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Tags: strategic growth, growth partnership, healthcare analytics partner, healthcare growth

Quiz: Uncover Tools to Support Your Growth Opportunities

Posted by Rebecca Groner on Feb 13, 2019 10:19:24 AM

Identify How Stratasan’s Software Can Most Effectively Meet Your Needs

Is your team equipped with the right tools to analyze data and execute your strategic plan? Do you have access to the expertise you need when looking to identify growth opportunities? Take this short quiz and identify which tools and services can improve your team alignment and promote strategic thinking.

With this quiz you'll receive:

  • Immediate feedback about which of Stratasan's software and services are the right fit for your needs
  • Answers about where to turn for improved data intelligence
  • Insights about how to more effectively align your team and see growth results
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Tags: strategic growth, strategic planning, data analysis, healthcare strategic planning, hospital strategic planning

Set Goals (Not Resolutions) and Achieve More this Year

Posted by Megan Reeves on Feb 5, 2019 8:53:50 PM

Successfully Execute Your Strategic Planning Initiatives

By Megan Reeves

If you’re like many Americans, you made a few New Year’s Resolutions last month [I’m drinking more water this year, for what it’s worth] and you’re likely still trying to hold onto them. The struggle to keep our resolutions is very real. In fact, 80% of resolutions don’t make it past the second week of February.

With this reality in mind, it may be time to consider a different proposition. Instead of making resolutions, what if, instead we set goals? Goals are much more actionable and specific — which is what makes them more effective — whereas resolutions tend to be broad and vague. The argument for goal setting has its place in our personal life and is entirely transferrable to the work arena as well. Specifically, for hospitals and health systems who have a strategic plan in place for 2019, goal setting will be a vital part of your success.

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Tags: strategic growth, strategic planning, healthcare planning, goals

4 Ways to Compete in Today’s Hospital Market

Posted by Daniel Dreaden on Jan 7, 2019 9:43:27 PM

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.

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Tags: strategic growth, strategic planning, healthcare planning, healthcare growth, healthcare market share, healthcare trends, healthcare mergers and acquisitions

Stratasan's Most Popular Blogs of 2018

Posted by Jennifer Keller on Dec 26, 2018 10:07:55 AM

We hope it’s been an incredible year of growth and learning through Stratasan's Strategic Growth blog series. We’ve learned how to apply the principles of “good strategy” to our annual planning, outlined how to achieve organizational alignment, and discussed how to thrive as an independent hospital in challenging healthcare times.

As we close out the year, we thought it would be helpful to share the 5 most popular blog posts from 2018. These posts received the most hits and seemed to provide the most helpful growth guidance to you, our readers. If you’re traveling over the holidays or just enjoying some downtime before the new year begins, this is a great way to review helpful blog posts that you may have missed or revisit your favorites for fresh insight.

 

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Tags: Blog, physician relations, strategic growth, health care, healthcare, healthcare marketing, healthcare strategic growth, marketing, software, healthcare service area, physician recrutiment, service area, 2018

How-To Guide: Defining Your Service Area

Posted by Lee Ann Lambdin on Jul 3, 2018 12:00:00 PM

By Lee Ann Lambdin and Jason Haley

Refining Your Process for Better Marketing ROI and Growth Planning Success

The first step in any planning or marketing endeavor for a healthcare organization is service area definition. Before demographics or market share can be run, an appropriate service area must be applied.

There is no one-size-fits-all way to define a service area. In fact, there are several ways to do it. Which one is best? The answer is, it depends.  Defining a service area is both art and science.   In our years of working with healthcare strategists, marketers, and planners , we’ve   found that most organizations define their service areas incorrectly, often defining   them larger than th ey should.  
 
 
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Tags: strategic growth, strategic growth planning, healthcare, healthcare strategic growth, analytics partner, healthcare service area, service area growth, data analyst, healthcare analyst

The Inside Story on State and All-Payer Claims Data

Posted by Tony Camarata on Jun 19, 2018 3:14:18 PM

Why You Need Both for Growth Planning and Physician Relations

By Haley Attridge, Tony Camarata, Rebecca Groner, Lee Ann Lambdin, and Dave Sellers

Every hospital and healthcare system looking to grow could benefit from reliable, clean, and standardized healthcare patient data. It’s critical for strategic planners and physician liaisons, in particular, to have access to data they can trust when looking to expand offerings, build physician relationships, and improve accessibility to care for their service area.

We recently compared state and CMS datasets and discussed how to sort through the complexities of both to extract valuable insights. If you missed that post, we encourage you to check it out, here.

In this post, we’re analyzing state and all-payer claims data. We’ll explore how these datasets differ, why they differ, and how, when armed with insights from both datasets, planners and liaisons can gain a more complete picture of the opportunities within their market.

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Tags: strategic growth, data, data processing, data strategy, health data, healthcare data, healthcare strategic planning, state data, all-payer claims data, apcd

Environmental Assessment Checklist

Posted by Hank Neuhoff on Jun 13, 2018 2:20:40 PM

Validate Your Market Understanding for More Informed Strategic Planning

By Morgan Atkins and Hank Neuhoff

An Environmental Assessment (EA) is an opportunity to validate your market understanding and can serve as an exposition on your market’s climate. EAs provide a comprehensive baseline for planning and can serve as a year-long reference point for measuring the progress and success of your strategic initiatives.

With so many high-priority outcomes connected to your EA findings, it’s important to get these assessments right. This checklist can serve as a handy guide to completing a successful EA. We’ll outline best practices and provide you with a step-by-step process for the best possible results.

Download Now

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Tags: Blog, strategic growth, health care, healthcare, checklist, environmental assessment, mra, market research analysis

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