This is an excerpt from our research brief, How You Should Measure Market Share Today.
This briefing explores strategies for expanding your view of market share by focusing on three critical categories: service share, physician share, and patient share.
Three Rules for Measuring Service Share
Most hospitals have traditionally tracked their market share by measuring procedure share—the percentage of procedures in the market performed at your facilities. Procedure share will continue to be an important indicator of competitive position, but you must also expand your view of service share to account for new growth strategies as well as new competitors.
Service share should be tracked in two ways. First, measure encounter share for all services across the continuum, including outpatient specialty care and primary care. Second, evaluate episodic share, which includes all the services and visits that contribute to the care of a major procedure or condition.
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