Today Becker’s Hospital Review is hosting its annual CEO Strategy Roundtable here in Chicago. I’m looking forward to listening in and participating in the various discussions that will take place during the day, including the capstone event — a 12 CEO roundtable that will specifically focus on what strategies hospitals and health systems are focusing on as they prepare for the future that lies ahead.
I expect that a few key strategies will pop up during the discussion. To me, they reflect characteristics and capabilities that health systems must adopt to operate successfully in a value-based world. Although the industry isn’t completely there yet, the tides are changing. In no more than five years down the road, I believe the market will require healthcare organizations to provide coordinated, high quality, low cost care, or consumers will go elsewhere.
Here are a just a few of the capabilities that will be required:
- Population health management abilities, including using predictive analytics to direct preventive care resources
- Participation in a network of care providers, allowing the provision of coordinated and seamless care across the continuum
- Risk bearing, having the ability to take on financial risk for population health and/or episodes of care
- Well-developed ancillary services. Health systems will increasingly need to diversify their services, and those with the best financial positions will actively explore alternative revenue streams, such as consulting services, medical tourism offerings and more.
What other capabilities will be required? Comment below or email me at ldunn@beckershealthcare.com. Responses may be used in upcoming Becker’s articles.
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