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
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 2017. After 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
By Morgan Atkins
Within healthcare organizations, teams are now a fundamental unit of organization. One study, published in The Harvard Business Review, found that ‘‘the time spent by managers and employees in collaborative activities has ballooned by 50 percent or more’’ over the last two decades and that more than three-quarters of an employee’s day is spent communicating with colleagues at many companies.
With the emphasis on teamwork, it’s important for the practices of these teams to be thoughtfully considered. Particularly, the common and important team effort of brainstorming new ideas together. “Studies show that people working in teams tend to achieve better results and report higher job satisfaction.” The New York Times Magazine reports. Knowing that, we wanted to discuss how brainstorming can be an effective team experience.
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strategic growth planning,
strategic planning,
growth planning,
team,
strategic growth plan,
growth mindset,
brainstorming
Practical Tips for Maintaining a Growth Mindset in your Organization
By Morgan Atkins
Stratasan understands how paramount change is to progress. We strive to be trailblazers in the healthcare space, developing innovative tools and services that address our clients' growth goals. The best way we can effectively lead our clients and provide value is by innovative thinking that challenges the status quo. Our goal is to empower our customers with the strategies that will equip them to more effectively face a challenging and ever-evolving healthcare industry.
At the heart of innovation is the ability to reframe your perspective. Henry Ford once said "If I had asked people what they wanted, they would have said faster horses." Often, the question itself limits what you think the possibilities are. If you have an open mind about the possibilities, you maximize your chances of building effective and unexpected solutions.
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Tags:
strategic growth planning,
strategic planning,
strategy,
growth,
growth planning,
healthcare strategy,
working smarter,
healthcare growth,
healthcare trends,
leadership,
change,
healthcare leadership,
development,
core values,
hospital growth
Time is everything.
Regardless of the size of your organization or your position, it’s a reality in healthcare today that your job will require you to wear many hats and to work smarter, not harder. You may find yourself responsible for multiple departments or teams in several different locations. Maybe your organization has experienced a merger and you are now involved in marketing, business development, and strategic planning. Whatever the case may be, it’s critical now more than ever that you master the skills of productivity and time management, finding resourceful ways to be more effective with your limited time.
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Blog,
strategic planning,
health care,
healthcare,
healthcare professional,
productivity,
time management
By Tony Camarata
Is your healthcare system failing to meet
annual strategic goals due to a lack of organizational alignment?
Studies
show that the highest-performing healthcare organizations have a strategic plan that sets a clear direction for all functional teams. This plan succeeds or fails depending upon organization-wide understanding of the goals, tactics, and measurable outcomes needed to fulfill the strategic goals. Conversely, if your team is unable to establish alignment, your health system risks stagnation and year-over-year frustration about your inability to meet goals and expectations.
Here’s a look at how to improve your hospital’s organizational alignment from top to bottom and why getting this right could be the key to meeting your annual strategic goals.
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Tags:
strategic growth,
strategic growth planning,
strategic planners,
strategic planning,
data,
healthcare,
healthcare strategic growth,
alignment
By Hank Neuhoff
When you’ve invested significant time, capital, and resources in your organization’s growth and expansion, you want to ensure that your efforts are paying off.
You’ve walked through all the right steps for strategic growth planning: you conducted a business and operational analysis, developed a strategic plan, and your team has been executing against it. This planning process can be daunting for any team to manage, but especially so if you are a smaller hospital or one of the many hospital systems trying to maintain a growth mindset in the face of downsizing.
You have now arrived at step 8 of a successful strategic growth process: reviewing your plan’s execution to measure progress. The purpose of this review is to make sure your hard work is paying off and your goals are being achieved.
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Tags:
strategic growth,
strategic growth planning,
strategic planners,
strategic planning,
data,
healthcare,
healthcare data,
healthcare strategic growth,
big data
By Tony Camarata
Has this ever happened to you? You walk into a strategy meeting with your strategic plan, ready to plan for the future, but walk out with a long list of to-dos instead? The meeting that was supposed to be used to chart your future growth strategy is spent asking and attempting to answer questions about past performance. Your organization’s key stakeholders need to know more insight into certain figures and also have requested intelligence that wasn’t prepared in advance, but they are not the right audience to jump into Excel pivot tables.
Storyboards will eliminate this problem with live meeting facilitations.
Launch Pathway is a data visualization tool that lives on top of state data. The Storyboards feature enables you to take snapshots of market share, service lines, payor mix, and maps of your facility and add them to presentation-ready decks within minutes, all within the application.
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Tags:
strategic planning,
data visualization,
hospital strategic planning,
maps,
data presentation
By Tony Camarata
Discussions around “big data” — what it is and why it’s useful — are infiltrating every arena of the healthcare space. Strategic planning, marketing, business development, patient care, and health outcomes are looking to big data for answers.
While the intelligence gained from big data analysis is valuable, there are compelling reasons to believe that working with the right data is far more important than simply having access to, and analysis of, big data.
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Tags:
strategic growth,
strategic growth planning,
strategic planners,
strategic planning,
data,
healthcare,
healthcare strategic growth,
big data
