The Veralon Views blog is an extension of our partnership with leaders who are transforming the healthcare industry. Here, we share expert perspectives from our nationally recognized senior consulting team on issues that are key to the success of your organization.
Social media’s most valuable role in strategic planning is in communication of strategic planning initiatives and priorities rather than for research during the planning process. It can be particularly useful for reaching employees and creating momentum for moving forward. Your organization can share information about mission, vision, goals, values and ongoing initiatives from your own […]
There are countless challenges that health systems may face in developing a strategic plan. Below are some of the more common reasons we have found for reluctance to plan. We have also included some thoughts on overcoming understandable hesitation. Reason 1: “We’re too busy keeping the organization operating.” Those in the C-Suite or on the […]
To achieve the best work product from strategic planning sessions, it is imperative for leaders to foster group collaboration and seek input from multiple stakeholders with different backgrounds and skill sets. Even when a diverse group of participants are selected, it can be difficult to obtain input from all participants if one or a few […]
A parade of headlines announcing record-breaking settlements (chart below) has left healthcare executives, lawyers, consultants, and even physicians wondering if they could be exposed to regulatory or legal action as a result of any of their employment or other physician-hospital alignment arrangements. The government’s incredible return on investment on enforcement actions, as well as a […]
The challenges faced by the healthcare industry require healthcare organizations to reduce costs. Yet many organizations are determined to grow, and doing both simultaneously may seem counterintuitive. Yet the two imperatives are not necessarily at odds. Growth is typically seen as the product of investment. And reducing costs can itself require the investment of organizational […]
When rural healthcare organizations ask us to review physician compensation from a fair market value (FMV) perspective, management often makes the case that they need to pay more to attract physicians. They cite a smattering of studies[1] showing that rural physicians have higher average compensation than their urban counterparts, with one January 2005 study showing […]
Great healthcare leaders are often good problem solvers with a penchant for taking rapid action to solve operational and strategic issues. This positive leadership quality can create challenges in strategic planning, where multiple initiatives may be competing for an organization’s available resources. Leaders may jump into action on several priorities simultaneously. When this happens, significant […]
Bundled payment, the Medicare Shared Savings program, and commercial value-based payment programs have caused many providers to develop care management programs focused on readmission reduction and chronic disease management. Our experience suggests that it is essential to apply both clinical and financial expertise when redesigning care. Financial professionals can add important perspective to a clinical […]
Financial due diligence―assessing and understanding the financial past, present, and likely future performance of the organization you are considering a relationship with―is one of the most critical components of the due diligence process. Getting financial due diligence right requires a combination of teamwork, good information, strong analysis, and self-awareness. Build a Team of Experts A […]