Effective growth strategy in healthcare requires a plan: a collaborative roadmap for achieving growth. But let’s say your intentions are good but you just don’t know where to start. What are some steps you could take to develop a roadmap for achieving the growth you desire?
Step one: gather information about the overall environment for your health care service. The environment varies by service but might include national trends related to volume growth, profitability, emerging technology, market disruptors or innovators, patient preference and quality.
Step two: deep dive your current situation. You can not overdo this analysis. Dig deep into trends over the last 2 - 3 years related to volume, growth, profitability, achievements, obstacles, clinical outcomes, market share, competition and referral markets.
Step three: reach agreement on what you are trying to achieve with your growth strategy, your growth plan. The objective might be to achieve volumes, grow market share or expand the referral base. Growth objectives must be measurable and always stated with desired end result in mind.
Step four: spell out specifically how you will execute towards this growth plan. Who, will do What, When and How will it be measured.