Friday, August 5, 2011
The Partnership Strategy
Because so many uncertainties exist within our industry, hospitals will find it difficult to be successful going forward. One strategy that some hospitals are finding success with is to partner or collaborate with others. Partnerships between providers, payors, purchasers and even patients will be key. So what's different today that will lead to our success versus previous attempts? Some of those differences would include the innovative information technology of today, the ability to collect and share data, the ability to align incentives between hospitals and physicians and even payors, the strength of today's clinical leadership, the willingness of physicians to be champions, the knowledge and commitment of today's board members and the application of process improvement approaches throughout our organizations. Is success guaranteed through these partnerships? Nope! However, success has a better chance to occur through these applications.