The Opportunity
Although demand is rising, organizations are being forced to triage among patients and clinical product lines to manage revenue and patient mix. Many predict that the next era will be one of profitless growth.
Over the next several years top-performing executive teams will focus on the following critical areas:
- Patients – creating a satisfying patient encounter experience, better clinical outcomes and improved safety
- Revenue Growth - rethinking market demand forecasts to determine capacity requirements and aim growth efforts at profitable business lines
- Competitive tactics - responding to threats from niche organizations and recruiting (and avoiding the loss of) needed specialists
- Management and Accountability – revising organization-wide performance management systems to focus on new business imperatives and directions
- Resource Management - rebuilding HR to focus on recruiting and retaining precious staff
- Operational Efficiency - reducing the cost of delivering care and processing claims, improving clinical workforce effectiveness in the face of shortages, physician demands, and malpractice and litigation risks, and increasing delivery throughput
- Technology - turning less than perfect existing and emerging technology into useful functionality
- Financial - maintaining profitability and converting non-productive working capital into cash for investment
- Compliance – complying with new regulations and standards
- Realizing Real Change – adopting new implementation, deployment, and change management techniques that overcome cultural and organizational barriers to new business models, business process improvement and technology advancements