Health care change is the norm today and its pace has quickened given the amount of Big Picture change.

Consumerism changed how we obtain health care information and access health care, but it was the pandemic that spurred exponential growth in the use of tele-health.

Health care transitioned from paper files to electronic medical records in 2007, yet this powerful clinical and analytics tool also has caused physician burnout from the number of hours spent entering daily clinical data after patient 15-minute visits.

EMR enhancements that convert speech to the written word will eliminate this!

The use of new technology has accelerated as has disruption from major players, many of whom are from another industry. Google, Amazon, and Microsoft provide the lion’s share of cloud data silos and are partnering with providers to use this data to develop AI tools.

AI is here for a few clinical diagnoses and some internal processes, but some machine learning tools still produce too many false positives or false negatives.

Algorithms generate different potential outcomes when weighted elements are varied by market penetration, price, or volume. Algorithms are key to budget and financial modeling, enhanced RCM, and other applications that improve process and affect net revenue.

Predictive analytics is being used as a decision support tool to forecast the net revenue impact of a potential change.

Disrupters targeted Retail diagnostics and laboratory services, primary care physician visits, and employer-direct health care. This is happening in real time while many providers are still struggling in the reboot. We know pent-up demand surged unevenly based on location and demographics, but in too many cases treatment deferred became treatment no longer pursued.

What still works?

• Provide good patient outcomes and patient experience
• Streamline consumer engagement and communicate effectively with patients
• Boost staff wellness, self-empowerment, and buy-in
• Drill-down to data actionable intelligence
• Make prudent investments in personnel and technology
• Use market differentiators to grow new business and strengthen patient loyalty
• Build-out a new growth strategy that is tactical, strategic, and nimble

Here are five proven strategies to grow new business:

1. Use brand strength in select service lines as a market differentiator by launching a new branding, marketing, and communications campaign
2. Use predictive analytics to measure the net revenue impact of a potential change
3. Use transparency as a market differentiator and key piece of the Digital front Door. This will enrich online experience which is a driver to the patient funnel, plus it will strengthen patient engagement and patient experience
4. Launch an “upstream medicine” campaign to boost the immune system and overall wellness of consumers and patients in the communities you serve. Use testing, diet, nutrition, exercise, and mindfulness protocols. This initiative will reinforce patient loyalty as well
5. Consider new strategies and/or partnerships to grow elements of the Retail Strategy

Change need not be the enemy.

See what ‘Q’ can do for you!