Objective Health’s Strategy Solution provides hospitals with prioritized opportunities for growth - based on objective, fact-based analyses and a clear understanding of your hospital’s unique business, market position, and culture. The solution delivers a prioritized portfolio of strategic opportunities for growth.
Expertise, Proven Experience & Best Practices from the Innovators in Strategy
A Comprehensive Solution with 7 Key Areas of Focus:
- Industry trends and the effect on your market
- Inpatient and outpatient volume projections, payor changes, and reform impact on your hospital and your market
- Impact of various market scenarios on your hospital P&L
- Service line growth in your market and region
- Hospital-wide growth opportunities
- Service line growth opportunities
- Portfolio of prioritized strategic growth initiatives
How It Works
Objective Health’s four phase approach to strategies for growth provides a thorough and comprehensive analysis of a hospital’s market, industry trends, and competitive landscape to identify key areas for growth. We collaborate with your team to understand your culture, develop actionable initiatives, and support implementation.
Effective Strategies For Growth:
A Unique Approach
Phase 1: DISCOVERY
Data Collection to Build the Fact Base
The Discovery phase focuses on collecting and transforming data to build a fact base for modeling and scenario planning.
Phase 2: FORECAST
Modeling and Scenario Planning
We model hospital economics under a range of scenarios based on industry trends, the local competitive landscape, historic market share / volume / economic trends, population demographics, service line projections, and payor changes, in addition to other factors. Each of these analyses is incorporated into the projection of a hospital's P&L through 2019.
Phase 3: GROWTH
Opportunity Assessment and Prioritization
We assess opportunities for hospital-wide, and inpatient and outpatient service line growth. Then we conclude with a list of growth opportunities and initiatives prioritized by the size of the projected impact, risk, and timing.
Phase 4: EXECUTION
Monitor Performance and Sustain Results
This phase is focused on aligning the hospital executive team and key stakeholders on the multi-year plan of strategic growth initiatives. We provide training and launch support of key initiatives to drive effective change management. Web-based, user friendly tools ensure successful implementation, with analytics to measure impact.