Health system executives used to talk about growth in terms of revenue, staff size, capital projects and patient volume. Not anymore.
As hospitals and health systems experience tighter margins, workforce shortages and the need for true value-based care, the conversation is changing. Executives are focusing on growth through “accessibility.”
“Banner’s growth is the outcome of our key strategies of improving access and affordability, not the end goal in itself,” said Amy Perry, CEO of Phoenix-based Banner Health, when asked about the biggest opportunity for future growth. “We are expanding to improve access to Banner care and coverage. In addition to hundreds of millions of dollars of investments expanding our acute care facilities, we have large outpatient Banner Health Care Plus facilities under development in three states.”
Banner is also growing its health plan services and networks for more affordable care, and is investing in member wellness. The system is expanding its primary care footprints with physicians who are taking a value-based care approach, and Village MD recently joined the system’s northern Colorado network.
Technology and innovation are more aligned with growth strategy than ever before, she noted.
“Our investments in technology and innovation are a significant catalyst for new revenue streams and operational efficiency,” said Ms. Perry.
Conor Delaney, MD, PhD, executive vice president of Cleveland Clinic and president of Cleveland Clinic Florida Market, is also leaning on technology in addition to physician recruitment to take a strategic advantage.
“AI represents a key growth opportunity and plays a vital role in operational efficiency,” he said. “As we embody innovation as one of our core values, it’s critical that we continue investing in forward-thinking strategies to shape the future of medicine.”
Cleveland Clinic partnered with Ambience Healthcare for AI tools to streamline documentation and has seen positive results. The system initially rolled out the technology to ambulatory physicians and advanced practice providers, and has plans to keep expanding for improved workflows and speedier administrative tools. The anecdotal response has validated the investment as well.
“One caregiver shared, ‘Love the process–so fast and easy,’ and that’s exactly the future we’re building,” said Dr. Delaney.
Technology as a growth engine isn’t limited to the large academic systems; regional hubs and specialty hospitals are taking a similar approach. Down the road in Tampa, the Moffitt Cancer Center has developed a 775-acre innovation district as a hub for research, biotech and new models of care that it hopes will facilitate growth.
“Over the next few years, we’re focused on expanding access to care, accelerating innovation and making sure our teams have the tools they need to deliver the best possible outcomes,” said Sabi Singh, executive vice president and COO of Moffitt Cancer Center. “That includes bringing proton therapy to the Tampa Bay area, which allows for more precise treatment with fewer side effects. We’re also integrating artificial intelligence into our workflows to help clinicians and staff work more efficiently and make faster, smarter decisions.”
Technology that can drive efficiencies to expand capacity, improve workflows and bring in more patients is highly coveted by today’s executives because systems can hit traditional growth targets, like adding revenue and patients, without adding staff or making painful cuts.
“Over the next two to three years, the greatest growth opportunities at Hospital Sisters Health System will focus on expanding access and building a strong physician and clinical workforce to ensure patients receive timely care across primary, specialty and procedural services,” said Kathy Donovan, senior vice president and COO of Springfield, Ill.-based Hospital Sisters Health System.
Her strategy includes partnerships with community providers and other organizations in addition to modernizing facilities for a more efficient care delivery experience.
“At the same time, we are advancing efficiency through technology, digital solutions and data-driven processes that evaluate quality and experience,” she said. “Together, these priorities position us to grow while staying true to our mission and improving the health and well-being of the communities we serve.”
The urgent need for additional access has spread west as well. David Ohm, chief strategic development officer of MultiCare Health System in Tacoma, Wash., is “deeply focused” on expanding access to value-based care in the Pacific Northwest, which will continue in the near-term.
“Over the next two to three years, our biggest growth opportunities lie in advancing digital health innovation, strengthening community partnerships and expanding retail health services to meet rising demand,” he said. “We’re also investing in workforce development and clinical integration to ensure care is not only accessible, but seamless and patient-centered. I’m excited to be part of an organization that champions these transformative efforts that will shape the future of healthcare delivery.”
