3 Ways to Sharpen Your Entrepreneurial Strategies
2. Realize you can't eliminate risk, but you can understand it
As providers face a new world of being more market-driven, Van Horssen says there's a tendency to almost get paralyzed from acting because you're always trying to reduce risk.
"In an entrepreneurial environment, you don't eliminate risk, you understand it," he says. "You can't completely avoid it when you're introducing new initiatives. You will miss market opportunities if you do."
He argues that inaction in this environment has real consequences.
"We've seen so many hospital and systems that are grappling with ACOs, core measures, different approaches to physician alignment, clinical integration, all tying into healthcare reform."
The problem, he says, is that these initiatives are so revolutionary that they are held up as almost reverential decisions that could represent life or death for the institution. It's true. They could, but that's no excuse for over-analysis or binding up decisions in layers and layers of bureaucracy, hoping to get everyone's ok before proceeding.
"Decisions on how to approach some of these challenges are often tied into existing planning processes that tend to take a long time," he says. "Using that process is inherently time-consuming and restricts the ability to move quickly, which is a characteristic of successful entrepreneurial environments."
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