3 Ways to Sharpen Your Entrepreneurial Strategies
The goal was doing stuff, not measuring care outcomes. But I digress. Such big changes in incentives, financial or otherwise, require bold, often risky decisions about how to reorient your particular business structures.
That kind of culture does not come naturally to healthcare providers, says Ron Van Horssen, a senior vice president with The Camden Group, a Los Angeles-based healthcare business advisory firm. We had a long conversation about developing an entrepreneurial culture, and I've boiled it down to three priorities for healthcare senior executives seeking this kind of change:
1. Develop the ability to make informed change quickly (at least relatively)
Healthcare tends to need to take some pages out of other industries, Van Horssen says.
"The provider side has been inherently more methodical in terms of how it changes. In a new environment where the incentives are changing it's just critical to develop the ability to make change happen quickly."
Quickly can be a relative term, but Van Horssen says one key is setting up the ability to move more rapidly into areas that competitors may not have yet recognized, or acted upon.
Being the first mover is risky, he says, but if you do your homework and have faith that your team has calculated correctly that the risk/return probability leans toward the return side, give it a try. You will make mistakes, but as the first mover, you can course-correct with a little more leeway than competitors who are trying to catch up.
- CEO Exchange: Preparing for Population Health
- EHR Systems 'Immature, Costly,' AMA Says
- Better HCAHPS Scores Protect Revenue
- Advocate, NorthShore Deal Would Create 16-Hospital System
- Narrow Networks Cut Costs, Not Quality, Economists Say
- 3 Strategies for Retaining Millennial Employees
- 'Early Offer' Malpractice Programs May Spur Reform
- Interstate Medical Licensure Effort Advances
- Power of price: In South FL and the nation, healthcare costs often are shrouded in secrecy