Pediatric Healthcare
5 Year Strategy Development
Positioning the organization for growth and long-term sustainability
Overview
A $1.8B pediatric healthcare organization was facing significant challenges due to shifting population and healthcare dynamics, technology and medical advancements, payor reimbursement pressures, and increasing competition. While the organization always had short term goals and priorities, they lacked a comprehensive 5-year strategy and prioritized list of initiatives to proactively address near term challenges and future opportunities. This strategic plan informed financial and resource investments, as well as align the organization around both its short- and long-term priorities.
Opportunity
Healthcare in general and pediatric healthcare specifically continues to face industry and market challenges. In light of these challenges, it was necessary to develop a new 5-year strategy to support the communities’ needs, position the organization for long term viability, and establish a set of priorities to sustain current operations while also charting a path for long term growth.
Services Employed:
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Stakeholder Interviews (senior team, board members, community)
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Visioning Sessions
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Strategic Plan Development
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Metrics and measures (have we achieved (KPI) and are we on the right track (OKR)
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Business case development - to evaluate cost/benefit of strategic initiatives to inform prioritization
Delivered
Working alongside the leadership team and the board, we undertook a process to develop a new 5-year business strategy that established a roadmap for growth, investment, and prioritization of 100+ initiatives while ensuring alignment of the senior team, provider group and broader organization. Outputs from this work included 5-year objectives and goals, long term KPIs and metrics, list of priorities and initiatives to achieve those goals, a roadmap (sequencing) of detailed priorities for Years 1 and 2, collateral for communicating to the board, organization and community around the organization’s strategy and goals.
Results
Client had a new 5-year strategic plan that was shared with and approved by the board. It was further rolled out to the broader organization and the community. The strategic plan a clear set of goals and objectives, Key Performance Indicators (KPIs) and a prioritized list of initiatives to achieve the long-term strategy and guide financial investments.