Hospital executives contend with many basic business challenges: improving customer satisfaction, containing costs, managing complex supply chains, and attracting and retaining top-notch talent. Regulators and reforms demand more collaboration and more accountability for outcomes, while reimbursements are being curtailed. The difference in government and commercial reimbursements are forcing providers to consider different care delivery models. Yet the human consequences of their work, as well as ongoing healthcare reform measures and changing delivery models, make their roles more complex.
A generation of empowered and technology savvy consumers is demanding more information about their care and more interaction with their caregivers. Fierce competition and evolving markets have paved the way for customer-centric business models, with an increased demand for personalized products and services, as well as increased product and pricing transparency. Going patient-centric will require greater IT integration to enable seamless communication and interaction between patients and providers.
Tomorrow’s successful healthcare providers will control costs and improve quality through tightly integrated, patient-centered clinical models. They will engage in robust patient engagement that leads to better health and more appropriate utilization. And they will use aligned incentives to reduce waste, focus physicians on proven practices, and encourage innovation.
With the shift from cure to prevention, consumers are investing in wellness and seeking healthy lifestyles. To capitalize on this shift, providers are offering programs that support wellness, prevention, and early detection. Social media presents a platform to promote this agenda, while bioinformatics and analytics can play a key role in improving prevention statistics.
From physician groups and community hospitals to academic medical centers, healthcare providers have opportunities to deliver better healthcare. From taking advantage of new digital technologies to using innovative care delivery models and connected health solutions; they can use knowledge in new ways to deliver more effective, efficient and affordable healthcare and optimize the health enterprise with analytical insights.
Getting to the new model is not easy. It requires broad-based changes in culture, market structure, payment models, clinical integration, and technologies all centered on creating value.
Regional Delivery System
Fulcrum helped to develop a strategic planning roadmap to address revenue decline hospitals face with the market shift to fee-for-value. These strategies included the pursuit of operational cost efficiencies, participation in care models and fixed cost restructuring to compete.
Fulcrum supported a hospital system in a performance transformation in anticipation of expected shifts in the market. This effort included redefining key strategic goals, improving IT and sourcing capabilities, and redesigning the organizational structure to improve team effectiveness.
For a community hospital, we built dashboards and program management tools that enabled hospital executives to monitor and manage operations against standardized performance indicators and to improve engagement of staff and clinicians.