Strategic Options: It's Not ACO or Nothing
While it may appear tempting to take a "wait and see" perspective on the transformation of the industry, doing so is risky as other providers that are proactive will carve out their position and limit the options for laggards. Similarly, it is highly risky to arbitrarily select a strategic role because it appears attractive/desirable without careful consideration of the factors which determine the fit with the market dynamics and each organization's core capabilities and culture.
Applying the appropriate strategic role and using it as a framework for decisions enhances the likelihood an organization will achieve the following five benefits:
- Quickly identify the strategic options that are a strong "fit" and those that should be eliminated, thus truncating analytics and decision-making
- Enable the organization to take advantage of narrow windows to capitalize on emerging opportunities
- Achieve implementation faster and at a lower cost
- Achieve more fully aligned strategic and operational initiatives – avoiding operational disconnects and assuring clarity of operational objectives
- Attain a higher return on investment in a financial, strategic, and operational context
This is a critical moment. Those with effective visioning and accompanying strategic plans are likely to succeed while the remainder may be forced into a role or simply fade from existence.
Mark DuBow is a senior vice president in the strategy practice for The Camden Group. He may be reached at firstname.lastname@example.org.
- 3 Management Lessons from a Supermarket Debacle
- Medicare Advantage Carriers See 'No Choice' But to Accept Cuts
- As Medicare Advantage Cuts Loom, Disagreement Over Program's Stability
- Physicians to Appeal 'Docs v. Glocks' Ruling in FL
- Centralizing the Revenue Cycle Protects the Bottom Line
- CA Fines 8 Hospitals for Medical Errors
- IOM Identifies GME Problems, Calls for Finance Changes
- Revenue Cycles Get a Boost from Simple JPEG Files
- Employers Weigh Risks, Benefits of Private Exchanges
- Premium Subsidy Fight Creating Uncertainty for Hospitals, Health Plans