Healthcare Strategic Growth Blog

Following the Numbers: A Data-Based Look at Virtual Care

Posted by Dave Sellers on Jun 9, 2020 4:42:43 PM

Early Data Shows the Rapid Shift in How Patients are Receiving Care

By Dave Sellers, Beth Duke, and Lee Ann Lambdin

In a recent blog post on planning for the future of telehealth, we shared tips for how to shift to a more aggressive virtual care strategy. We discussed ways growth planners can embrace telehealth and be better prepared for the future. We also talked about the importance of data while growth planning and how All-Payer Claims Data (APCD) provides unique insights that can inform hospitals and health systems as they prepare to respond to the growth of telemedicine.

We won’t have complete data insights until July as to the full impact of COVID-19 and the resulting rapid adoption of virtual care. The data we do have shows the drastic impact of the virus and the resulting stay-at-home mandates. By tracking the “Telehealth” care setting, we see a momentous spike in virtual care in March of 2020. While the transition to virtual care began to take effect in 2018, it clearly jumped in March of 2020 due to virus concerns. Take a look at claims and encounter data below to see the spike in virtual visits.

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Tags: strategic planning, hospital strategic planning, all-payer claims data, apcd, telehealth, telemedicine, virtual care

Planning for the Future of Telehealth

Posted by Brian C. Young on Apr 14, 2020 9:18:59 PM

Tips for Shifting to a More Aggressive Virtual Care Growth Strategy

By Brian C. Young and Lee Ann Lambdin

Hospitals and caregivers across our country are pivoting in response to COVID-19. While the impact on individual hospitals varies greatly, a common theme for all providers is the need to keep patients at home, whenever possible, for the safety of both patients and providers. This has opened the door for telehealth growth and we’re witnessing a rapid shift from a previously deliberate adoption path to a record pace of uptake. 

“Telehealth is bridging the gap between people, physicians, and health systems, enabling everyone, especially symptomatic patients, to stay at home and communicate with physicians through virtual channels, helping to reduce the spread of the virus to mass populations and the medical staff on the frontlines,” said Dedi Gilad, CEO, and co-founder of Tyto Care, a telehealth technology company, in this Healthcare IT News article. 

So what is the future for telehealth, after the current “stay home” mandates are lifted? How can hospital planners prepare for a change in strategy in light of our collective embrace of virtual technologies?

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Tags: strategic planning, hospital strategic planning, telehealth, telemedicine, virtual care, market reimbursement analyzer, reimbursement

Show Me the Money: The Finances of Strategic Planning

Posted by Aaron Frazier on Feb 25, 2020 5:47:00 PM

Why it’s Critical for Planners to Keep Budget Top-of-Mind

By Aaron Frazier

As strategic planners set their course for growth in the new year, it’s critical for finances to be top-of-mind. Often, the budget isn’t always a primary focus for planners, who are more locked in on market share and growth opportunities. But it’s an important step worth remembering and in this post, we’ll discuss why. We’ll review the following two areas of consideration:

  • Do you have all the resources you need to fulfill your plan? If not, what will the cost be to acquire the necessary resources?
  • Will the new idea you have planned be profitable? Is it worth the financial risk?

Mindful examination of these questions on the front end will pay off through the year. You’ll hit fewer roadblocks and see more success as you execute upon your growth goals and ideas.

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Tags: strategic planners, strategic planning, healthcare strategic planning, Finances

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 still an important step in the growth process, it's becoming clear that a stand alone annual plan won't cut it in today's healthcare world. 

This annual routine has been driven by annual data reporting—a factor that is changing due to increased adoption of the 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 are 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 and make changes that will ensure greater adoption? 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 Make the Right Data-Driven Decisions

Posted by Jason Moore on Apr 16, 2019 4:55:00 PM

The Secrets of the DIKW Pyramid

By Jason Moore

Have you heard of the DIKW pyramid?  If not, you’re not alone. But if you’re up for a refreshing shift in perspective on how to make data-driven decisions, then read on.

Within the healthcare landscape, change is constant. As a result, growth departments — whether they be strategic planning, marketing, business development, or physician relations — must make informed, data-driven decisions that can keep pace with the rate of change. Stratasan views the DIKW pyramid as the best and most philosophically accurate way for leaders to make these decisions.

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Tags: Blog, strategic planning, data analytics, data-driven decisions, health care, healthcare, hospitals, marketing

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

Founder's Perspective: Applying the Principles of Good Strategy to Our Annual Planning

Posted by Jason Moore on Nov 29, 2018 10:09:49 AM

A Behind the Curtain Look into Stratasan’s Planning Process

By Jason Moore

As we near the end of 2018, goal setting and annual planning are top of mind for all of us. Strategic planning is a useful process for organizations of all shapes and sizes and a well-defined strategic plan is key for companies that want to thrive, grow, and remain competitive. In this post, I want to give you a peek behind the curtain into our process to help you better understand how we think about and plan for the future of our business.

Stratasan’s co-founder and CTO, Brian Dailey, introduced Good Strategy/Bad Strategy: The Difference and Why it Matters by Richard Rumelt to our executive leadership team (ELT)* in late 2017After reading and discussing it as a group, we decided to implement this methodology to our strategic planning process. Starting this process so late in the year though meant our 2018 strategy was not completed until the year had already begun. This limited how effective our 2018 planning could be, but we still recognized that we’d landed on a good process. This year, we were motivated to start earlier and are already seeing positive synergy around our 2019 strategies as a result.

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Tags: strategic growth planning, strategic planning, growth planning, annual planning

Quiz: How Strong is Your Strategic Planning Process?

Posted by Lee Ann Lambdin on Feb 27, 2018 3:20:00 PM

Does your hospital have a good strategic planning process in place? How frequently is the plan updated and does it impact your day-to-day work and growth planning? Take this short quiz and find out how your team is doing with strategic planning!

With this quiz, you'll receive:

  • Immediate feedback as to how good your team is at strategic planning
  • Tips and best practices for improving your strategic planning process
  • Insights about the value of strategic planning to meet growth, quality, service, and physician relations goals
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Tags: strategic planning, healthcare strategic planning, hospital strategic planning

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