Taking a Retail Approach to Healthcare Data
In an age of increasing competition and shrinking budgets, healthcare executives face major challenges in growing market share. With all of the challenges facing them, it is no wonder that healthcare leaders feel a strong need to take action. In an effort to grow market share and revenue, many organizations are taking bold steps: building urgent care centers, ambulatory surgery centers and free-standing emergency centers of their own; buying established physician practices and physician networks; increasing the number and complexity of their service lines; and funneling more money into branding and marketing — and they are depending greatly on analytics to do so.
Analytics help healthcare organizations answer their patient and facility expansion questions, removing uncertainty and guesswork from the process. By utilizing analytics, leaders can make sound decisions based on objective data to lift revenue, compete more effectively and optimize facilities throughout the healthcare portfolio.
In this article originally published by Management in Healthcare, a Henry Stewart Publication, Buxton Senior Vice President Bill Stinneford shares how healthcare organizations can effectively utilize analytics.Download the PDF