The pace and impact of the transformation required within healthcare has never been greater and the margin of error is a razor-thin, at best. Many healthcare executives and their boards are not prepared for these drastic and accelerated changes that will be necessary to position and sustain their organizations for the future. The transition from a volume-to-value strategy is not widely understood and the strategies to achieve these results are not known or seen as unachievable.
This is a new era for the healthcare industry and will require new thinking and solutions to navigate these challenging times and embrace the opportunities for your organization and the ability to continue to fulfill your community mission.
We’ll Help You
Develop a Plan
Source Health Vision Services focuses on developing strategic plans to navigate the many challenges and opportunities and to assist executives and boards in achieving their organization goals.
For some organizations this will require further market education and development of a clear glide path to achieve their goals and objective. Others may need further development of their executive teams and boards to prepare for the challenges and opportunities.
The future will require new skill sets and experiences to address issues and to successfully navigate the turbulent waters.
Source Rural America
The challenges within rural healthcare across the country are unique and need to be addressed in a different manner than their urban counterparts.
How We Can Help
Strategic planning is critical for all businesses to set vision, strategies and objectives to set priorities, focus energy and resources, strengthen operations, ensure that employees and other stakeholders are working toward common goals, establish agreement around intended outcomes/results, and assess and adjust the organization’s direction in response to a changing environment.
Source can assist in developing, implementing and monitoring your strategic planning process, establishing metrics, communications plan and implementing the plan to ensure organizational success.
Governance is entrusted with many critical tasks form recruiting and retaining leadership, fiduciary responsibility, establishing strategic direction, critical decisions like strategic partnering, accessing capital, merger/acquisitions and other one-time decisions.
Source can assist boards and executives through these process and discussions, bringing a disciplined process and analysis, ensuring critical questions are raised and the discernment process has integrity, timeliness and thorough discussions and decisions made.
Business Model Development
Business model development is critical for all organizations, from start-up technology companies to health systems.
Source can guide an organization through the business development process from defining the value proposition, pricing, financial modeling, target customers base, marketing strategies, competitor analysis, vetting of solution with potential target market, go-to-market strategies, resource requirements, key metrics, strategic partnerships and operational and implementation plans.
Strategic partnerships can be critical for an organization to consider accelerating market entrance, enhance product/service offerings, referral development, cross-selling opportunities, access to capital – financial and human, or other strategic reasons.
Source can guide you through the analysis for need of a strategic partner, criteria for partnership selection, identification of potential partner(s), guidance through due diligence and negotiations, and planning and operationalizing the value of a strategic partner.
Executive Compensation & Benefits
To get Executive Compensation right, every angle must be thoughtfully considered. Boards and Executives want to strike the right balance to optimize efforts and ensure long-term sustainable success. Competitive compensation package must ensure your selection hits the ground without reservation, but it also must be commensurate with comparable data, and meet regulatory requirements. In the end, the compensation plan must satisfy your Board, executives, regulatory bodies, and consider public optics.
Source assures brings the expertise and experience to assure the recruitment, rewarding and retaining of executives and aligning incentive compensation with the short- and long-term goals and objectives of the organization.
The boards of organizations have tremendous responsibilities, frequently with one-time strategic and financial decisions that have a long-term impact on the organization. This might be key strategic partnering, leadership changes, merging/acquisitions, and other strategic decisions.
Source brings expertise, experience and processes to assist boards and executives in determining strategic alternatives, diligence review, critical thinking and communications planning to ensure a successful transition with strategic agenda items.
Traditional leadership training is effective for horizontal development—gaining knowledge of leadership skills to manage predictable, linear problems. Skill building helps improve efficiency and effectiveness. But, it’s not enough. Leadership coaching efforts can advance a leader’s training by beginning to address vertical development—growing the leader’s capacity to fully lead within rapidly changing, complex and unpredictable environments. When this type of development is integrated with the development of support structures around the leader, the team and the system—the development now truly has a chance to stick. In this way, the capacity at all levels of the system is increased to the next level needed for success.
Source is led by healthcare leaders, physicians and executive coaches, we leverage our deep and broad functional experiences in the healthcare industry to drive developmental change efforts for leaders, teams and entire organizations. Our collaborative, interdependent and custom-designed services are designed to help you increase the capacity of your leaders and teams, so your healthcare system can navigate complexity more effectively.
The recruitment, rewarding and retention of executives I one of the most crucial responsibilities of a health system board. Change, whether planned or unplanned, can be very disrupting to an organization and requires the board to ensure strong leadership and direction that ensures that the organization to can continue to meet its business objectives and mission of the organization. The successful managing the departure of an executive and the recruitment of a new executive is a complicated process that many boards have never had to embrace.
Source brings more than 25 years of success in advancing the careers of healthcare leaders. We’re the only executive transition and outplacement experts dedicated to the healthcare industry. When you choose Source to assist you in finding your next position, you’re accessing a network of more than 10,000 healthcare leaders and recruiters. Find out how our time-tested, 13-step proven process will help you achieve significant career momentum that results in you accepting your next ideal role.
Physician Coding – Data Analytics with Artificial Intelligence
One of the big challenges in acquiring physician practices or hospitals merging their physician enterprise is the diligence and ongoing monitoring of physician coding practices. Most organizations will do a sampling of physician coding practices, which leaves a high percentage of physician’s practices that are not fully assessed. Obviously, this can result in significant compliance exposure for over coding or under coding and result in revenue loss when a physician is under coding due to poor documentation. The manual process of auditing physician coding practice results in greater risk for the acquiring physician practices, the merging of hospitals which employ physicians, the PE investment in physician practices and the overall monitoring of coding practices.
Population Health, Readmission Reduction, Coordination of Care
Reducing readmission rates is a major focus for hospitals across the country. This solution can be a great tool for managing population health with the critical clinical data that allows for interventional analytics versus retrospective analytics. It is critical for health systems to manage their post-acute provider network and ensure that they are aligned with the broader population health strategies. Managing the acute and post-acute markets will be critical in improving and coordinating care, reducing readmissions, and reducing overall cost.