Many strategic planners still operate under fee-for-service incentives, but a combination of demographic, market, and regulatory pressures are forcing providers to compete in entirely new ways, requiring a new look at growth and profitability.
By reading this study, members will learn:
- Why traditional investment frameworks are no longer operable
- Ways to use clinical technology to meet new growth imperatives
- How to make investments that establish a value-oriented competitive profile
The new role of clinical technology
Historically, clinical technology played a central part in volume-based competition, promoting market differentiation and treatment volume growth. However, health care consumers and payers have become more discerning about quality and cost of care, raising the bar for episodic accountability and cross-continuum care.
While executives have recently devoted less mindshare to clinical technology investments, the stakes are now higher. Most providers continue to spend more on capital investments each year, even in the face of market and payment model shifts that challenge their ability to meet margin goals over time. With less room for error, providers must sharpen investment strategy with a new framework.
Use technology to achieve growth
Based on interviews with leading institutions across the country, we propose a new investment framework that leverages technology to meet new growth imperatives. Specifically, by prioritizing episodic performance and cross-continuum care over treatment share, technology investments can raise value for individual patient care over time.
Read the study for twelve purchasing objectives and related examples that demonstrate how planners can make the most sensible clinical technology investments to support a value-based growth strategy. Ranging from reducing per-procedure costs, to improving treatment efficiency, to closing gaps in the care continuum, these purchasing objectives ensure that clinical technology investments—such as radial PCI or contrast-enhanced ultrasound—prepare providers for value-based competition.
Get More from Service Line Strategy Advisor
Want more about clinical technology? Start with our Clinical Technology Compendium to learn what you need to know before investing.
Next, register for our upcoming webconference, "The New Clinical Technology Investment Framework for Value-Based Competition."
Then, try these resources:
This research study is just one of many resources for strategic planners that we have developed throughout the year. If you would like any additional information about our recent and ongoing research, custom projects, or about Technology Insights in general, please do not hesitate to contact us at email@example.com.
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