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
Tags: Blog, Stratasan, strategic planning, strategy, data, data analysis, data analytics, data-driven decisions, data strategy, growth, health, health care, health strategist, health strategy, healthcare, healthcare data, healthcare planning, healthcare strategic growth, healthcare strategic planning, healthcare systems, hospital, Market Share, healthcare growth, data analyst, all-payer claims data, decision-driven decisions, data aggregation, payers, Gist
Note: This post is an excerpt from my SHSMD 2021 conference presentation. You can download the slide deck from this presentation here.
It’s true, the COVID-19 pandemic has been unlike anything our healthcare system has seen in recent history. In many cases, teams have been short-staffed and budget dollars reallocated. How can growth departments rebound from such challenges, often with no additional resources? By learning from those familiar with overcoming similar obstacles.
Staying nimble and adaptable in the face of challenges is something many veterans know how to do well. Experienced leaders are accustomed to making adjustments when there are unplanned changes, budget reductions, or higher demands on the same few resources.
Over the past year, I’ve worked alongside and advised numerous Stratasan clients as they’ve navigated shifting priorities and supported their staff through COVID-19 related challenges. In this post, I’ll share how I’ve seen these hospitals respond and how we can all learn from their experiences.
I’ll also share some of Stratasan’s story of rebounding from loss. I’ll provide some of the insights we’ve learned on how to focus priorities, make risk/reward calculations, and automate more.
With this final post in our series on how to adjust and renew your approach to strategic planning in the wake of COVID-19, we’re discussing what tools you can utilize to support your efforts. If you missed the first two posts, click here to learn how to effectively use 2020 data, and here for suggestions on how to refocus priorities upended by COVID-19.
If you’re at the point of revisiting your 2021 strategy, or taking steps to set the course for what strategy should look like post-COVID, then the tools shared in this post will help you along the way.
In our first edition of this blog series, Evaluating 2020 Data—Is It Useful or Not? we discussed how to approach and make sense of 2020 data and use it for strategic planning. In this post, we’ll build upon that idea and consider how strategic planners can adjust and refocus their priorities after a disruption of such magnitude as COVID-19.
How can strategic planners start again? By moving forward in the face of many unknowns and building a new strategy based on a year of data irregularities. The insights shared here will hopefully provide a starting point to do so.
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!
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Market share is a measure of breadth of services offered, distance to customers, public perception and physician capacity. Our hypothesis is, all things being equal; people prefer to go to the closest hospital. It is the "all things being equal" part where we lose patients. If patients perceive a difference in quality, lack of service available locally, or lack of availability to schedule an appointment with a physician; they will pass the closest hospital for another.
Picking the right location is a critical challenge for any hospital or health system looking to grow strategically through a new site placement. Coffee shops provide a simple, yet appropriate, illustration. You have likely seen a hip, new coffee shop that serves great drinks close their doors after six months because it was in the wrong geographic location and couldn’t generate enough business. Perhaps visitors didn’t bother going because it was too far “off the beaten path.” Or there was always a line of cars waiting to turn into the parking lot so everyone who visited ended up frustrated or late to their final destination because of the congestion (and thus, never returned). Either way, you hopefully see the point: whether it’s coffee or medical care, people tend to make purchase decisions based off of location and convenience.
Tags: Blog, strategic planning, health care, healthcare, hospital location, medical care, medical clinic, medical needs, primary care, primary care clinics, site placements, urgent care, urgent care clinics
I hired a great analyst a few years ago. She was skilled with database programs, understood the complexities of the healthcare market, and had previously been a medical records coder—in short, she was very talented. The longer she was in her position, the more our state data was reported accurately and on a reliable schedule. It was a huge win for me and my team!
Recognizing her capabilities, I asked if she could start running "quarterly standard reports" that present key findings which could influence how our planning, marketing, and business development departments would function and what we would focus on in the weeks and months to come. These quarterly updates would be high-level summaries of our market landscape and would cover everything from our hospital’s market share, trended volume, competitor positions, product lines, payor mix, patient migration patterns and more.
Tags: strategic growth, strategic growth planning, strategic planners, strategic planning, data analysis, data analytics, healthcare, healthcare data, healthcare strategic growth, healthcare analytics partner, healthcare trends
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.