Nashville, Tenn.-based HCA Healthcare outlined its business strategy in its 2023 annual shareholders report released March 15.
The for-profit system said it aligns its strategy around a five-point growth agenda:
1. Growing its presence in existing markets: HCA said it is well-positioned in a number of large and growing markets that allows it the opportunity to generate long-term, attractive growth through the expansion of presence in these markets. Its strategy includes recruiting and collaborating with the physician community, as well as developing outpatient facilities.
2. Achieving industry-leading performance in clinical, operational and satisfaction measures: To achieve these goals, HCA said it implemented several initiatives including infection reduction efforts, hospitalist programs, advanced health information technology and evidence-based medicine programs.
3. Recruiting and retaining physicians and other healthcare professionals to meet the need for high quality services: HCA said it attracts and retains these providers by "providing high quality, convenient facilities with advanced technology, by expanding our specialty services and by building our outpatient operations."
4. Utilizing economies of scale to grow the system: HCA said it believes its centrally managed business processes and ability to leverage cost-saving practices across its extensive network will enable the system to manage costs effectively.
5. Pursuing a disciplined development strategy: HCA said it intends to focus on selectively developing and acquiring new hospitals, outpatient facilities and other healthcare service providers.