Skip to main content

Where Is "Business Growth" On Health Care's Agenda?

Former "car czar" Steven Rattner, writing in yesterday's Wall Street Journal, says this about the auto industry:
"For any company with a competitive line of products in a business where fixed costs are high and market share tends to shift only gradually, total volume is the most important determinant of profitability."
High fixed costs.  Gradual shifts in market share.  Might that also describe health care?  I think so.

Sure, be seamless, safe, cost-conscious, accountable, value-driven and integrated.  Just make sure your priority list includes business growth.

And remember that the basis for competition in health care is changing, and growth may require pulling different and unfamiliar levers.  Acquiring new skills.  Creating insightful metrics and customer feedback loops.  Identifying emerging value streams and risk assessment methodologies.

Rest assured that when health care has finished yet another round of cathedral-building, generations of leaders will survey their balance sheets and say "Time To Grow."

Contact me if I can help.  (healthcarestrategist@gmail.com)

Comments

Popular posts from this blog

Becoming Consumer Friendly In Five Easy Steps...Or Not

An article at hhnmag.com offers hospitals 5 steps to becoming more consumer friendly.

If you still think there's a secret sauce to your hospital becoming more "consumer friendly," these 5 steps are as good a place to start as any.  Unfortunately, it's a little like that old Steve Martin comedy bit where he says he'll teach you how to be rich. The first step is to go find a million dollars.

Step 1 from the article is realizing that "...a Medicare beneficiary with chronic conditions is different from a young mom who brings her kids in for an annual check-up." This is market segmentation for beginners, and, yes, one size decidedly does not fit all. I'm sure your marketing team's been saying this for a while.

Steps 2-5: have a strategy, metrics, a champion and resources. OK. Hard to argue with any of those.

But those things, alone or together, won't overcome culture. They're important components to be sure, but insufficient without a …

Another Day, Another App, Another Satisfied Customer

How might health care providers use technology to turn customers' mobile phones into information displays and ordering devices? A few years ago, the NY Times outlined how retailers are doing it...
"(Designer Norma) Kamali is at the forefront of a technological transformation coming to many of the nation’s retailers. They are determined to strengthen the link between their physical stores and the Web, and to use technology to make shopping easier for consumers and more lucrative for themselves.
...

Cisco Systems, the supplier of networking equipment and services for the Internet, is also a leader in the field. The company’s Mobile Concierge system is capable of connecting customers’ smartphones to retailers’ wireless networks — so a shopper could type “Cheez Whiz” into a cellphone, then pinpoint its location in the store." Ms. Kamali's boutique installed a technology called ScanLife, "allowing people to scan bar codes on merchandise and obtain details about the…

Why Change Happens, Or Not

From LinkedIn: