Three Capabilities for Strategic Planning Success – Part1

Steve Dunn, DataBay ResourcesBy Steven Dunn, Sales Director, DataBay Resources

Strategic planning for a hospital or ambulatory surgery center is an important and necessary tool utilized by leadership teams to help them better understand the healthcare environment from both a national and local level in order to focus organizational goals and respond to changes and trends. A strategic plan provides a roadmap on where an organization is going and directions on how to get there. It is used to guide all decisions, including those regarding capital, technology, staff and other resources. Healthcare leaders need to continually assess and reassess the organization’s strategic plan.

Your organization’s strategic direction should be set within the context of its most significant challenges and its aspirations for the future. With that in mind, let’s explore three key capabilities that will help guide your strategic planning process.

Market Awareness

Before a plan can even be made, it’s critical that your organization conducts a business and operational analysis, with a significant focus centered on market awareness. It’s impossible to meet organizational goals without having a thorough understanding of the dynamics that make up your market. Assemble a list of key questions you need answered.

Top questions many strategic planning analysts are trying to answer for their executive leadership include:

  • What’s our market share, and what are the possible reasons for growth/decline?
  • How many procedures (colonoscopies, cardiac, ortho, etc.) did we do last quarter, or last year? What is the trend over three years?
  • What facility has the most market share in this county or ZIP Code?
  • Where did the highest number of our patients come from?
  • What’s our outmigration or patient leakage from our primary service area?
  • What is our competitor’s volume?
  • What are our opportunities for growth? Are there needs in the area not currently being met?
  • What is the profitability of specific service lines?
  • How many cases are coming from a ZIP Code?
  • How many specialists or subspecialists do we need for a specific geography?
  • Do we need to add physicians or service lines?

In our next post, we’ll look at how data access and analysis play a role in the process.

Intalere subsidiary DataBay Resources provides strategic planning and market analysis software for interpreting and reporting on state and Medicare discharge data, disease-based predictive analytics to include consumer demographics and lifestyle segmentation, and physician manpower planning and database management.

 Contact 877-711-5700 ext. 7213 or visit www.databayresources.com to learn more.

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