Why healthcare strategy is needed more than ever in times of rapid change
When thinking about strategy, most organizations have a strategic plan. But with the amount of change being thrust upon the healthcare industry, no one could have predicted the current landscape even one year ago.
The strategy function at a healthcare organization generates strategic plans, identifies growth initiatives and validates them. A core responsibility is monitoring the information and policies that inform those hypotheses. The best organizations are able to stay focused on their overall goals while keeping track of, adapting, and changing as new information surfaces.
The high pace of change related to technology, policy, and regulation, requires continual monitoring and reassessment. Not every healthcare organization has the competencies to track and manage these changes, and entities frequently come to HMA to either validate assumptions that are the basis of their plans, or to outsource components of the analysis or the implementation.
Organizations generally have a good handle on certain elements, including their own assets and competencies, the strength of relationships with their partners, and hopefully an understanding of what their customers want. But in times of rapid change, consultants can support monitoring external market factors and turbulence on the policy and regulatory front. They can assess changes on the technology side as well, including ways to integrate AI and other digital technologies to enable care delivery. Organizations see the potential for policy changes to disrupt the way they are doing business, but may need outside validation to ultimately communicate and operationalize new approaches within their business.
For more on this, listen to this month’s podcast Ready or Not: Implementing Strategy Amid Massive Healthcare Disruption where we discuss some of our thinking on ways companies can stay ahead of the game.
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If your organization is struggling to turn strategy into action, our experts are available to help you lay a clear path to positive results. Whether you are focused on payments, healthcare delivery, government policy, behavioral health, life sciences, Medicare, Medicaid, or Managed Care, our HMA experts are ready to partner with you, from initial strategy-setting through implementation.
Related resources:
- Learn more about our Strategy & Transformation services
- Spotlight: Achieving financial resilience in a time of turbulence
- Spotlight: Realize transaction-related cost synergies
- Spotlight: Building Sustainable Health Systems
