Developing a Strategy for Future Organizational Shifts
HSG Advisors, a national healthcare consulting firm, presented an educational session with the Kentucky Hospital Association and King’s Daughters Health at the 2022 SHSMD Connections Conference on Monday, September 12th. The program offered insights on “Creating an Ambulatory and Physician Office Market Development Strategy” from three points of view; health system leadership, state hospital association leadership, and third-party healthcare consultancy.
With outpatient revenue on track to overtake inpatient revenues in the next few years, healthcare organizations must start preparing for this shift on an organizational level. This will require a fully developed strategy on how to measure and manage care provided in the ambulatory environment. The presenters, DJ Sullivan, Managing Director at HSG Advisors; Melanie Landrum, Vice President Data and Health Information Services at the Kentucky Hospital Association; and Katie Arnett, Vice President Chief Patient Experience Officer at King’s Daughters Health, dove into the core tenets of strategy development and their specific impact on the ambulatory market.
“Hospitals and health systems need to beware of ‘analysis paralysis’ as they identify key performance indicators to measure the success of their outpatient strategy development and execution,” said Sullivan. “This factor, along with the ability for organizations to embrace strategic partnerships and facilitate collaboration, will significantly impact a healthcare organization’s success in the ambulatory market.”
60% of live attendees reported not feeling confident in the data and analytics they had in order to make meaningful strategic growth decisions in the outpatient and ambulatory environment
During the presentation, attendees discovered how outpatient measurement and management have been developed across an entire state and at the individual facility level. They reviewed innovative data insights and analytics that health systems are using to support their ambulatory strategy development. And finally, attendees learned about specific examples and tactics, including provider placement, patient access, and service capability development, to use in their own ambulatory market strategy.
For more information on creating a market development strategy for your healthcare organization, email DJSullivan@HSGAdvisors.com.