HMA Spotlight
Supporting real-time strategic decision-making across the leadership team
HMA was recently contacted by a chief strategy officer of a healthcare company with dominant market share struggling to react to the rapid changes in healthcare policy. His CEO was regularly asking him for updates, and he knew he needed a proactive construct for understanding, reacting, and ultimately shaping the environment. Could we help him build the capability to monitor those changes within the company鈥檚 strategy function? 听
As organizations operate within our highly turbulent policy environment, strategy leaders are well served to consider how they source and socialize the information that sustains strategic decision-making.
While every company is different, strategy leaders should monitor the following:
Regulatory and policy realities
Existing and potential competitive offerings
Market and client needs
Organizational assets and competencies
Formal and informal relationships
These are the ingredients for developing and validating hypotheses for market growth 鈥 a critical function of the strategy office. However, just as important as monitoring this information is socializing it across the leadership team.
On one recent HMA strategy project, the executive team of an association listened soberly as we described their direct competitor. The competitor was growing rapidly and winning over long-time members of the association. They had a small, nimble team, in contrast to the association鈥檚 cumbersome and complex governance structure. As we rehearsed the sentiments of their members, the needs in the markets, their partnerships, their offerings, and the shifting policy environment, we painted an up-to-date picture of their market realities. Their reaction was almost explosive: they had to take action to stem their eroding position.听
By socializing fact-based information, a strategy leader can create the tailwinds for action within an organization. The leader can also ensure that those who need to ratify or support strategic action understand the rationale for change. We think of strategically viable actions as being grounded in the domains above. For example, does the action take advantage of policy opportunities, avoid areas of dense competition, address demonstrated need, and leverage organizational capabilities and relationships? If those blessing the decision understand these same considerations, it will be easier to get to yes.
If you sit in a chief strategy seat, consider building the capability to monitor these domains, and surface your fact-based findings to organizational decision-makers. This information should be the bedrock for strategic decision-making鈥攁nd strategy leaders will find it easier to secure board and executive support if those audiences are grounded in the same set of facts.
Ready to transform your organization?
Whether you are focused on payments, healthcare delivery, government policy, behavioral health, life sciences, Medicare, Medicaid, or Managed Care, our HMA 量子资源s are ready to partner with you, from initial strategy-setting through听implementation.
Related Resources
Learn more about our Strategy & Transformation services
Achieving financial resilience in a time of turbulence
Realize transaction-related cost synergies
Building Sustainable Health Systems
CMS Shakes Up the Innovation Center Model Landscape: What Comes Next?
How One Organization Unlocked Exceptional Financial Gains Through Revenue Cycle Optimization
Contact our 量子资源s:
