As you respond to the ever changing environment and position your organization for long-term success, your vision and strategies will drive your decision-making in a host of areas – such as whether to remain independent, your response to insurance consumers, physician relationships, and what niche you need to cater the population – among many other challenges. Tough work and hard decisions lie ahead, but our multidisciplinary team of experts can help guide you during this dynamic time, ensuring you thrive in a value-based world.
With our collaborative client-focused approach, national perspective, and analytic rigor, we can help you prepare for your success with range of business planning services.
Hospital Business Plan Concepts & Models
As you traverse towards value-based care, determining the right path among the countless of reform initiatives can be overwhelming. Revisiting and redefining your strategic goals can give you clarity on the tough decisions you need to make to be in the competition. Your vision, goals, and strategy should drive your decision-making when it comes to your business strategy, insurance coverage, clinical integration, and internal branding. Ensuring your strategic plan is clear, implementable, and takes into account changing economic, demographic, insurance, clinical care, and market trends – such as emerging payment systems, impact of healthcare reform, and insurance reimbursements – will help guide your decisions.
As the industry continues to evolve, so does the strategic planning process. Today’s strategic plans need to move away from being hospital-centric and consider the full care continuum in light of value-based compensation reform. Our thought leaders and healthcare advisors have hands-on experience helping hundreds of hospitals, systems, medical groups, and other clients across the country not only prepare but implement strategic and business plans based on their unique culture, circumstances, and ambitions.
We also assist in the evaluation of strategic options and scenario planning, taking into account various trends and their implications, market share, financial condition, utilization, competitive positioning, and market outreach. Our approach is comprehensive and thorough, providing you with specific implementable strategies to help you achieve success.
Service Reengineering & Turnarounds
In this new environment, improving service line performance and making the right choices in terms of service line portfolio management is critical. You need to prioritize and select the right strategies for the right services, all while delivering care as efficiently and effectively as possible.
Our experts can help develop strategic and hospital business plans, feasibility studies, business development plans, co-management arrangements, and improve performance for all major service lines. Our proven, financially driven, market-based strategic planning process engages stakeholders and creates actionable strategies that enable your key service lines to thrive. We can help:
- Analyze your service line portfolio to identify priorities and resource allocation between service lines
- Design effective physician integration and alignment strategies and models, including co-management, bundled payment, and joint ventures
- Improve efficiency with Lean, Six Sigma, NABH guidelines and other methodologies
- Complete financial analysis (e.g., valuation and fair market compensation studies)
- Evaluate service line utilization, resource needs projections, and facility planning
- Enhance system-wide service line structure, including consolidation opportunities and management structure
- Assess department operations and staffing
- Assess IT needs and planning
Our multidisciplinary team of strategic, financial, clinical, and operational leaders has experience turning around even the most troubled of hospitals. We complete an assessment, identify underperforming or obsolete services and assist management in implementing changes to improve the financial performance of the hospital.
For those seeking financial turnarounds following bond covenant violations and defaults, we thoroughly evaluate every aspect of operational performance, management structure, financial policies, cost structure, staffing, and revenue cycle.
As industry thought leaders with practical experience in hospitals, we bring our best thinking to set you up for success in the short and long-term. Our clinical, operational, and marketing experts evaluate the performance of hospital departments and identify opportunities to improve operational efficiency, reduce costs, and improve services and patient satisfaction to lead the turnaround effort.