In this time of crisis, the U.S. healthcare system has struggled to safeguard lives and suppress the COVID-19 virus, while buckling under financial strains, low consumer confidence, and the burden of persistent clinician burnout. And yet, the industry is experiencing an unprecedented digital transformation. Between regulatory changes and billions of dollars of investment into new disruptors, the stage is set for transformative change.
In the midst of uncertainty stemming from the pandemic, healthcare finance leaders need to partner across the C-suite to make critical decisions about the future. While the core tenets of growth, financial stewardship, and quality remain the same, health systems must tailor their strategies to the unique realities of today’s context.
How can the U.S. healthcare system emerge stronger from this crisis with durable, high-impact strategies? Input from hospital and health system leaders reveals there are 4 Big Moves that center around the goals of winning the consumer to grow share while capturing and delivering differentiated value to stay essential to payers:
1. Own the Onramp
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2. Hyper-Personal Care Orchestration
3. Specialty Care Double Down
4. New Work
In the following overview of each of these Big Moves, I’ll explain how finance leaders can apply focus to their investment strategy in digital transformation. We know 89% of senior finance officers plan to make increased investments in digital. These moves can provide a cohesive framework that guides their investment strategy to allow hospitals and health systems to emerge stronger from the pandemic. The hospitals and health systems I work with are looking for ways to reinvent and reimagine their operating model and vision for the future. These Big Moves offer an approach that could guide these critical decisions.
Source: Hitconsultant