As the healthcare reform rollout reaches its final stages, providers across the country are working to develop population health strategies that deliver needed cost savings. During a Nov. 14 session at Becker’s Hospital Review Annual CEO Strategy Roundtable in Chicago, James Stanford, client services executive at Objective Health, a McKinsey Solution for Healthcare Providers, offered four considerations for healthcare providers when designing a value-based population health initiative.
1. Market demand. Providers need to investigate both what payers in their community are looking for in terms of population health initiatives, and what their (successful) competitors are doing, said Mr. Stanford. “If there’s money out there, other people are looking for it as well,” he said, meaning providers need to be proactive in evaluating the market to find the best opportunities.
2.Available areas for improvement. The next step is to identify areas within the healthcare continuum where there is either over- or underutilization of resources to determine how the population can be better managed, said Mr. Stanford. “It’s about looking where the healthcare dollars are going, and finding the pockets that can be improved,” he said. 
3. Technology. Any population health initiative requires technology that allows data to be processed in a meaningful way, said Mr. Stanford. A provider should have technology solutions that allow for clinical integration, health care management and care coordination and financial risk management.
4. Timeline. Successful population health initiatives often take time to pilot and perfect, said Mr. Stanford. Developing more ambitious population health solutions such as accountable care organizations or provider-led networks could take three years before they are ready for the market.
Developing a population health strategy is essential for success in the post-healthcare reform world, said Mr. Stanford. “Those who find innovative solutions that are homegrown will be the real innovators in this space and will be positioning themselves to be leaders of the new equilibrium.”
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Rx for Transformation: Strategies and Tactics to Succeed in the Turbulent U.S. Healthcare Market
Hospitals of Tomorrow: 10 Characteristics for Future Success
How South Carolina Hospitals Saved Millions in Elective Delivery Costs
