The Chartis Group Releases "2019 Healthcare Outlook: Strategic Imperatives for the Year Ahead"
CHICAGO, Jan. 17, 2019
CHICAGO, Jan. 17, 2019 /PRNewswire-PRWeb/ -- Today The Chartis Group released a paper outlining the critical issues healthcare executives should address in the coming year – "2019 Healthcare Outlook: Strategic Imperatives for the Year Ahead."
The 2019 Outlook addresses the challenges that healthcare leadership teams have in balancing preparations for an uncertain future while sustaining appropriate focus to manage through the real and immediate demands of today's environment. The paper addresses four strategic imperatives healthcare leaders should consider as they confirm their organizational priorities for 2019 and beyond.
Greg Maddrey, a Director with The Chartis Group stated, "Healthcare leadership teams are navigating multiple fundamental changes underway across the entire health delivery and services space – including the digitization of healthcare. Yet, they also need to sustain their existing businesses and operations under current economic realities. We expect that the year ahead will require a deliberate approach to developing digital health capabilities; assessing and potentially repositioning within the healthcare value chain; using and accessing capital; and focusing on next-level execution. Partnerships will be critical across the board – as will a meaningful reorientation to the consumer."
Highlights of these four strategic imperatives include:
Imperative 1 – Embrace digitization
Ensuring a purposeful approach to digital health will help organizations harness the potential of digitization, while mitigating against common and pervasive risks. Organizations need to appreciate that digital health is more than a list of new technology solutions or apps – it is about fundamentally redefining what is possible. Ultimately, the digitization of healthcare constitutes a transformation to a delivery model centered on the consumer and the digital delivery network. Getting started in digital will require a coordinated, enterprise approach to digital health-related planning and implementation and a prudent evaluation of options to inform timing and financial viability.
Imperative 2 – Identify where to play in the evolving healthcare value chain
The lines and boundaries around the healthcare delivery value chain and the activities within it look different than they did a decade ago – and most definitely will be different a decade from now. Provider organizations should examine their current role to understand where they are most vulnerable. Many organizations may need to reposition – in some cases even disrupting their own organization in order to avoid a longer-term loss. Leadership teams should also develop the organizational flexibility to nimbly react to unexpected market change.
Imperative 3 – Rethink capital
There is a huge influx of investment in healthcare as various entrants try to monetize improvements to the industry. Meanwhile, for most providers, the demands on capital are increasing – at the same time that many providers face challenging economics. It is critical for leadership teams to reconsider how they conceive of and approach their capital needs and sources. Leadership teams can revisit and confirm – or refine – their criteria and processes for navigating competing demands for capital, tying capital investments closely to strategy initiatives. Teams should also be prudent with their build/buy/partner decisions, to manage required outlays as they seek new capabilities. And providers may want to explore non-traditional sources of capital.
Imperative 4 – Execute to create real value
Leadership teams should consider how to purposefully take on the more complex, difficult initiatives required to fundamentally address margin – those items most squarely in the realm of clinical care delivery such as clinical variation, clinical service rationalization, provider and care team roles and clinical processes. Recent and anticipated market consolidation only amplifies the imperative to execute, with increasing public attention on the impact of provider consolidation on pricing and healthcare affordability.
The Role of Partnerships
Few, if any, providers will be positioned to go it alone. Leading organizations will equip themselves to cultivate and manage a partnership portfolio across a pluralistic set of relationships as they chart their course for 2019 and beyond.
About The Chartis Group
The Chartis Group (Chartis) provides comprehensive advisory services and analytics to the healthcare industry. With an unparalleled depth of expertise in strategic planning, performance excellence, informatics and technology, and health analytics, Chartis helps leading academic medical centers, integrated delivery networks, children's hospitals and healthcare service organizations achieve transformative results. Chartis has offices in Atlanta, Boston, Chicago, New York, Minneapolis, Portland and San Francisco. For more information, visit http://www.chartis.com.
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