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Health care's new strategic direction
Hospitals and health systems are on a new strategic course—one that no longer revolves around the acute care enterprise, service line strategy, and volume growth. Rather, the strategic plan of 2020 emphasizes population health management, primary care, patient consumerism, and greater asset integration to enable more cost-effective service delivery.
These new priorities often require investment in programs and infrastructure that are not yet financially viable under current reimbursement formulas. As a result, CEOs are asking philanthropy to help accelerate their path toward care transformation.
Read more about strategic planning as we transition from acute to integrated care.
The road from strategy to market is less clear
Chief development officers want to align closely with the strategic direction of their hospitals and health systems, but the gap between today's institutional strategy and a case for support is considerably wider and more riddled with barriers than for more longstanding and familiar priorities.
This study provides a roadmap for overcoming these major barriers and unlocking new opportunities in the donor market.
Four steps to fundraise for today's strategic priorities
Crystallize the narrative
To make inroads in the donor market, development must build a compelling case around the institution’s goals and vision. Converting institutional strategy into a meaningful narrative for donors requires a layered approach, and it relies on leveraging significant contributions from internal allies.
- Practice 1: "Shark Tank" Vision Setting
- Practice 2: External Relations Cabinet
Package for market impact
New strategies are often operationalized across service lines, disease areas, and care sites, making them difficult to isolate and track. Best-in-class institutions are dedicating staff and re-imagining campaign models in an effort to bundle new priorities together in a way that raises donors' sights to the opportunity for transformational giving.
- Practice 3: Care Transformation MGO Beat
- Practice 4: Care Transformation Campaign Models
Activate donor interest
Even with a better packaging strategy, donors may still be reticent to support new and largely unfamiliar priorities. To build donor interest, development leaders must take a more intentional approach to creating demand in their market. They should build their engagement strategy for new priorities around levers that are known to catalyze investment.
- Practice 5: Priority Beta Test
- Practice 6: Donor Conversion Guide
Make the case for reinvestment
To sustainably fundraise for the strategic plan across time, fundraisers must report impact to both donors and internal stakeholders. For donor reporting, this requires that development leaders orient themselves to their institution's new metrics and personnel. For executive-facing reporting, foundations and development shops must begin demonstrating philanthropy's measurable contributions to top strategic pillars.
- Practice 7: Care Transformation Impact Reporting
- Practice 8: Strategic Alignment Analysis