The role of data in developing an effective growth and development strategy
July 5, 2017
Let’s take a moment to consider an initiative that many healthcare organizations face. You’re a VP of business development and your chief competitor is building a new center for musculoskeletal care and is actively talking with all the orthopedic surgeons in the region, including physicians at your facility. At the same time, you’re talking with an orthopedic group affiliated with another hospital (out of the market) to partner with them. How does your organization get a handle on this dynamic so it can mitigate risk and quantify the opportunity?
As the healthcare industry continues to evolve, it’s important that organizations adapt their strategies using analytics to make the best decisions to help them grow. Part of Infor Healthcare’s initiative is to arm clients with data and analytics through a solution set called CloudSuite Engagement for Healthcare. This is a full suite of solutions and services, including Market Insights, a solution that helps answer specific strategy questions using data analytics. Infor Market Insights helps stakeholders make growth and development decisions efficiently and confidently, and offers a holistic view into growth and development opportunities. The solution includes modules or dashboards that are available out of the box: Market, Provider, Access, and Referral Analytics.
Growth and development modules are designed as building blocks to help your organization maximize value. They are derived from descriptive, prescriptive and predictive analytics that are key to helping you discover market opportunities and design the strategy that will bring the most growth. Market Insights can help your organization determine, for example, which geographic locations would be best for a new musculoskeletal center. By having more detailed analytics, you can make development decisions in areas such as specialty and primary care development, geographic market expansion, ambulatory care development, provider network development, and hospital joint ventures, and mergers and acquisitions.
How do we solve the issues that often hinder these strategies? It starts with having the right information that is built for your growth-based decisions. Infor Market Insights allows your organization to gain confidence in what the data is telling you so you can make smarter, evidence backed decisions.
Watch this webinar: The role of data in developing an effective growth and development strategy, to learn more about what Infor Market Insights can do for your organization and to hear an example of how a hospital can put this solution into practice.
Are you joining us at Inforum? Be sure to schedule an in-person demonstration to see the application in action. Also, register for my education session:
HEAL 109—CloudSuite Engagement—Positively impact physician, patient and community engagement
Learn how to anticipate patient and consumer behavior, enhance community provider-to-hospital interactions, and positively impact patient outcomes. You'll discover how CloudSuite Engagement offers proven methods and actionable insight into patient acquisition and retention, as well as a methodology to influence your patient population to be more proactive in maintaining better health.
See you next week!
By Dann Lemerand, Strategy Director, Infor Healthcare
- North America