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Smart Growth
Sg2 and St. Luke’s: Guiding Future Growth and Transformation
St. Luke’s Hospital, a nonprofit health system in the greater St. Louis area, consists of two hospitals with 636 beds, two ambulatory surgery centers, eight urgent care facilities, nearly 200 employed physicians, and a medical staff of over 1,000 physicians across 60 specialties. Post-pandemic, the hospital faced challenges due to the lack of a formalized strategic plan and wanted to refine ...
Technology
Preparing for the Next Wave of Smart Hospitals
Digital transformation remains a key strategic goal for the health care industry, and the ongoing pressure to optimize workflows, maximize human resources and adjust to powerful technologies like generative AI has led to a resurging interest in the smart hospital concept. Broadly defined, a smart hospital is one that is fully digitized and interconnected across the care continuum, leveraging inter...
Finance
Appetite Remains Strong for Private Equity Investment in Health Care
Despite headwinds, private equity (PE) continues to make strong inroads into health care. PE investment will remain a significant force for the foreseeable future, which represents both an opportunity and a challenge for health systems.
Although some see PE as an unwelcome intrusion that complicates physician alignment and service line growth, forward-thinking health systems are leveraging PE par...
Payment Evolution
Five Observations From 2024 First Quarter Earnings Calls: Payers and Value-Based Organizations
As part of Sg2’s value-based care (VBC) analysis and market research, we review the quarterly earnings calls from a subset of publicly traded legacy payers and VBC-focused entrants. The summary is designed to highlight emerging trends and dynamics in these closely related industries, especially as they tie to VBC. The following post draws from recently released earnings call transcripts fro...
Consumer Strategy
Transforming Data Into Actionable Insights
In a recent meeting, a CFO shared a common frustration among healthcare systems—having an abundance of data but lacking meaningful information. This trend is seen across the nation as health systems struggle to make sense of the statistics and metrics they collect. That raises the question: How can you turn this data into insights you can act on to improve performance?
Health systems are con...
Strategic Planning
Unleash Your Health Care Organization’s Hidden Revenue Potential
Editor's note: Tammy Tiller-Hewitt, FACHE, CEO, Tiller-Hewitt HealthCare Strategies, contributed to this post.
Imagine being able to report that you discovered an opportunity to generate $26 million on average in year-one incremental net revenue. This kind of opportunity comes from high-value referrals based on your health system's current facility footprint and service lines. You can tap into y...
Payment Evolution
A Fresh Look at MSSP—Amplify Your Strategies With a Time-tested Program
Exploit vs explore: balancing focus on legacy business model while evolving in a dynamic environment.
Business leaders across industries can appreciate the importance of balancing exploration of new opportunities with optimizing the existing business model. Strategists have termed this the “explore vs exploit” paradigm. Health systems, like all businesses, must balance their traditiona...
Consumer Strategy
Transforming Access Strategies: Think Like a Retail Giant to Improve Access
With the ever-changing health care landscape, it's essential for organizations to prioritize access as a critical part of their value proposition to consumers. Patients as consumers are savvy now and have more options than ever on where to receive care. By adopting a consumer-centric approach, health care systems can create a seamless and convenient experience for patients. Drawing inspiration fro...
Disruption
From Novice to Prodigy: A Perspective on AI’s Rapid Ascent
Imagine this scenario: a kindergartner—initially grappling with the basics of counting, addition and subtraction—manages to leapfrog several years of curriculum and advance her mathematical capabilities to a fifth grade level within a year. Such a feat would be recognized as a significant achievement.
Now suppose the teachers at the school see these results and respond by saying, "Her ...
Disruption
Disrupter Downfall: Do Legacy Providers Prevail?
Unpacking the recent exits and pivots from disrupters in health care
Recent developments have seen numerous disrupters significantly alter their health care strategies or, in some cases, exit the sector entirely. Legacy providers watching from the outside are left feeling vindicated but also curious as to what they can learn from others’ struggles. If giants like Walmart and Walgreens, and ...