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Developing a Roadmap for Service Line Optimization and Business Strategy

Posted in Practice Management Solutions | Dec 2015 | Comments (1)

Tags: Editor's Choicemedical practice management tipsorthopaedic practice managementpractice managementmarketingbusiness planStryker Performance Solutions

        Lisa Fraser_100x130             IMG 9222_DxO_HGraham_100x130           Jen Johnson_100x130    
   Lisa Fraser, MHA
  Program Manager
    Alignment, Strategy and Reform    
  Stryker Performance Solutions   
  Heidi Graham, BSE
Senior Business Analyst
    Alignment, Strategy and Reform
    Stryker Performance Solutions
  Jen Johnson, BSN
Director
    Alignment, Strategy and Reform    
    Stryker Performance Solutions    

Orthopaedics continues to represent a marquee service line for health systems in terms of increasing demand, patient satisfaction and revenue. Market-leading orthopaedic groups are working with individual hospitals and health systems to help them embrace orthopaedics as the best starting point to capitalize on today’s dynamic healthcare environment as an opportunity to measure performance and prepare for the future. However, while many organizations want to optimize their orthopaedic service lines and reassess their business strategies, they are overwhelmed. Where to begin?

Before you can create new opportunities, you need to objectively assess and analyze gaps, weaknesses and strengths in your present service line. You need to make sure that your foundation is strong.

As we have discussed in other forums, top-performing service lines excel in these six characteristics:

      • Clinical Care Excellence
      • Service Line Analytics and Outcomes
      • Financial Performance
      • Market Positioning
      • Physician Alignment
      • Value Based Care Strategy

In order to truly drive impactful change, hospital and physician leadership must co-develop and execute a roadmap that plots actionable next steps toward optimization and long term business strategy. Here is a high-level overview of the key steps to take when performing the gap analysis to inform your strategy:

1.  Conduct Clinical and Quality Assessment. This includes:

      • Benchmark key clinical quality indicators (complications, readmissions, blood transfusions, etc.)
         
      • Identification of opportunities for improvement of current care processes for the largest inpatient total joint, spine and fracture services

2.  Transform Data into Information

      • Aggregate data across system facilities into data dashboard for intra-system comparison and benchmarking against national averages and best practices  

3.  Analyze Inpatient Financial Performance

      • Use key indicators, such as contribution margin, post-acute care, length of stay, payor trends, costs and provider variation in the inpatient orthopaedic program

4.  Assess Market Position

      • Evaluate national and regional utilization, consumer trends, brand presence and market opportunity for the orthopaedic service line


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Mathieu Gobeil 12/09/2015 03:34 PM
Very good.
This is exactly what we realized when rolling out our Total Patient pathway in England and Germany. Looking forward to see how the U.S. market will implement it. I do believe that the joints biometrics that we now make available in real time will be welcomed by all parties especialy with the new bundles and the importance of remote monitoring.
Thanks & dont hesitate to call me if you have questions and get the ortho brochure
Mathieu
866-301-3439
http://www.bpmphysio.com