5 Considerations When Developing Service Line Priorities
Healthcare organizations don’t succeed by accident. Organizational success most often comes from intentional and purposeful planning. Today’s hospitals face shrinking reimbursements, shifting reimbursement models and an increasing focus on reducing costs and utilization — making planning even more important.
To succeed in this environment, you must plan with purpose. It helps you grow in areas that improve organizational return and protect profitability. It also keeps you focused on your core mission, helping you avoid wasteful strategies.
Learn these factors that will help you develop service line priorities:
- Understand how each service line fits within your mission, vision & values
- Measure the service line’s capacity & readiness for growth
- Quantify the market opportunity for growth
- Determine the service line’s value to your organization
- Identify current & planned patient pathways
“How will growing a particular service line affect your organizational metrics and brand in the community? Consider patient satisfaction and physician satisfaction scores within the service line. Will adding volume within this service line improve perceptions of the hospital?”