The Growth Channel

The latest innovations in market strategy and share competition

Improve the patient experience—and boost profitability—with PFACs

by Matt Morrill and Elizabeth Caniano July 12, 2017

Your PFAC—patient family advisory council—may be one of your most valuable and underutilized resources.

These groups, which typically consist of 5 to 20 patients and family members, provide hospital leaders with constructive feedback around issues such as improving the patient experience. PFACs can also be important thought partners for strategic planners. 

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The Latino cohort: What today's emerging consumer wants from health care

by Anna Yakovenko and Jodi Askew July 6, 2017

To remain viable in today's heavily consumer-driven health care market, planners need to understand the preferences of consumers in their market—and planners are increasingly interested in decoding the preferences of one group in particular: the Latino population.

This isn't just because Latinos account for 54% of U.S. population growth since 2000, or because they are the fastest-growing ethnic group in the country. They're also growing faster than any other group as health care consumers. Hispanic consumers (persons of specifically Spanish-speaking ancestry) spent 62% more on health care in 2015 than in 2010, outpacing the health care spending growth of the overall population by nearly double.

Here are the three things this consumer segment wants from health care:

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Why providers are dragging their feet with virtual care

by Tom Cassels and Emily Zuehlke June 28, 2017

Recently, health technology investor Malay Gandhi said, "Telehealth is a runaway, unassailable trend that will become the predominant way people receive care." If that could be the future, then why does today look so different?

One important reason: Despite the well-documented benefits of virtual access to care—improved access to providers, greater efficiency and flexibility, comparable care outcomes—hundreds of interviews with health care leaders reveal a common roadblock to growing a mature program: physician resistance.

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3 ways demographics data can set your strategic planning apart

by Shay Pratt and Carrie Wolf June 26, 2017

You're probably using a range of data sets to inform your strategic plan—but what about demographics data?

The retail industry has long used this information to support its strategic planning, and it's time that health care leaders follow suit. Demographics data provides visibility into health care attitudes, lifestyle indicators, and psychological motivators, to name a few examples—all factors that inform how patients engage with health care services.

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What planners need to know about ASCs: Understanding the risks and benefits

by Haley Wiesman and Lauren Lawton June 23, 2017

Ambulatory surgical centers (ASCs) can benefit health systems in a number of ways: They can help hospitals grow their outpatient footprint, improve operational efficiency, and better engage patients through shorter stays and lower costs. However, these forces present a challenge to hospitals that compete for outpatient volumes against ASCs. Meanwhile, the reimbursement landscape for this care setting further complicates this dynamic, offering unique challenges and benefits to each stakeholder.

Keep reading to understand today's ASC investment risks and how to approach them based on your system's current portfolio and strategic priorities. 

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Why your strategy team needs data leadership

Shay Pratt June 19, 2017

The data landscape is changing: Not only can you dive deeper into traditional data sources than ever before, but you can also tap into new datasets that improve visibility into consumer preferences, freestanding and physician office activity, and patient journeys across the continuum.

These resources afford great potential; they can enable planning teams to create multi-dimensional market analyses that spark greater confidence in growth planning, improve decision-making speed, and go beyond basic market share measures to better understand the root causes of market performance. 

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Follow these 3 Intermountain best practices to fight the opioid crisis

by Sarah Musco and Sarah Izzo June 15, 2017

Despite rising opioid prescription and overdose rates, organizations haven't figured out the right way to respond. But it's not for a lack of trying: Planners have been seeking ways to address opioid misuse and using resources to do so.

So what's the problem? Health systems often fail to include other key stakeholders in the conversation—leading to disjointed, duplicative initiatives that are at odds with one another.

Intermountain Healthcare, a 22-hospital not-for-profit health system, has overcome this problem with its community-based strategy. Read on to learn more about Intermountain's approach.

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Your AMC's growth is at risk. Secure market share as an academic health system.

by Dick Wright, Senior Advisor, Advisory Board Consulting June 9, 2017

You've probably heard this horror story: a top academic medical center (AMC) loses its market-leading position to increasingly consolidated competition.

Why? As competitors join forces, they form large networks that make it difficult for the traditional AMC to protect its market share and patient population.

To avoid the fate of this cautionary tale, AMCs must seek out a new growth strategy, pursuing different relationships and expanded services to compete for payer and consumer attention in today's environment. They'll need to transform into a new form of AMC: the academic health system.

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