Every organization has sacred cows. The financial challenge from COVID-19 calls for large scale improvements. This has emboldened our clients to address sacred cows, making tough changes that were unthinkable a few months ago. The time to act is now! Sacred cows to consider include: Underperforming Assets: Every organization has some assets that perform significantly […]
The pandemic has led healthcare leaders to ask, “Should we just throw out our strategic plan?” Though much has changed, the quickest and most effective way to lead and make good decisions – and to reassure boards and other stakeholders – is to revise and build on your existing strategic plan[1]. It will help set […]
Covid-19: A prediction challenge like no other Covid-19 will challenge hospital leaders in many ways. But no one expected that a key challenge would be in a basic skill every hospital administrator mastered early in their career – estimating volume. Hospital leaders are accustomed to estimating volume. They do it all the time – for […]
Many conversations we have with hospital and health system executives about market growth strategies eventually turns to the topic of micro-hospitals — and for good reason. These facilities typically include a small-scale emergency department (ED), low-acuity surgery, and are often comprised of eight to 10 inpatient beds as well as additional observation beds (notably, these […]
The greatest risk for health systems will be to assume that their leading role in health care is an immutable given. The strategic challenge will be to…
“Everyone in the industry is merging. We should be too.” “We’ve always been independent, and we should stay that way.” Independent hospitals continue to merge or affiliate with other hospitals or with health systems. However, independent hospitals still have company. In 2016, the latest year for which information is available, there were about 1,600 independent […]
Challenge/Situation: To assist CRMC in determining if the medical center could remain independent and financially viable, and if not, to identify and evaluate potential affiliates.
It is no surprise that merger and acquisition (M&A) activity is on the minds of healthcare leaders across the country: There were an average of over 100 affiliations of various forms annually among health systems and/or individual hospitals between 2012 and 20171 as healthcare provider sector activity continues at a steady pace. Perhaps more surprisingly, […]
For most hospitals and health systems, orthopedic services are a major contributor to the bottom line and indirectly support many other critical acute care services. Demand for orthopedic services is increasing—but so is competition among providers. To protect orthopedic share and margin in this environment, it will be essential for health systems and hospitals to […]
When health system leaders are asked how they intend to make their ambulatory networks more consumer friendly, many point to their organization’s new one-stop ambulatory care center, on-line scheduling, patient portal or upcoming telehealth plans. In other words, they refer to specific tactics or initiatives rather than describing an overarching strategy for consumer engagement. […]
