Importance of Strategic Planning In The Healthcare Industry

February 10, 2019

Business

Comments Off on Importance of Strategic Planning In The Healthcare Industry


Strategic planning, this word may be hard to digest for many people. Especially for people who are from medical background will be more difficult to understand this concept in a business sense. However, components for strategic planning in the healthcare industry are huge unlike any other. It has become more and more essential to plan for the future in order to be successful in the industry.

Nowadays many healthcare experts consider strategic planning in order to be better than their competitors. As huge competition wars now rage across the industry in between the hospitals, healthcare systems and other individual physicians in the market. They are focusing more on quality, service, patient satisfaction, advanced technology and other important characteristics.

Here we shall discuss briefly why strategic planning is essential in healthcare industry.

1. Improved Access And Patient Flow

As healthcare insurance widely expanded through the Affordable Care Act (ACA) and more patients are trying to access the healthcare service than ever before. So planning innovatively to “get more with less” in the health care insurance will be more effective and smoothing way to have more patient flow through hospital. Moreover many insurance organizations used this strategic plan to explore their products by precisely matching a patient’s clinical need.

Finally, financial return from this technique can be significant with increased throughput leads and higher revenue.

2. Designing More Effective Care Processes

In most of the healthcare system, eliminating non-value care process is becoming hard to achieve. Fortunately, group purchasing and other economies can decrease cost and it can lead to front-line level of care for significant savings. Therefore, higher quality care delivery system usually ends up with lower costs. So planning few strategies to drive high quality healthcare system and that has to be developed by collaborating clinical and non-clinical providers. Still this task won’t be easy at initial stage. But integrating physicians and other healthcare service provider into the healthcare delivery system will be more cost effective and profitable business.

3. Transition From Manual Work To Technology

In most of the healthcare industry considering the advanced technology is more in trend. Many service providers lack in understanding the capabilities in order to make journey successful. But strategic planning can identify the key capabilities and that must be addressed to include a systematic approach to establish a latest technology in healthcare domain.

4. Advanced And Leveraging Technology

In most of the time delivering a high quality and cost efficient healthcare through man power can be expensive proposition. So the use of mobile technology such as applications that runs on smartphones is often most effective way of delivering services. Also coupling of social media platform in mobile technology can be successful. Especially for some disease like chronic disease, diabetes and many other, where patient need frequent interaction with doctors. So planning strategically with all these circumstance can be cost-effective and profitable for healthcare experts.