Opportunity within Change
There is little disagreement that the current state of the US healthcare economy is unsustainable. To address this situation, unparalleled public and private reform is underway that will usher in a new economy that rewards quality, efficiency and collaboration.
For those healthcare organizations that wish to thrive in this new economy, they stand at a tipping point where the strategy and tactics they employ today will profoundly impact their opportunity for success in the years to come.
Dynamic Market Environment: Tipping Point
The foundation of that tipping point is the increasing payer focus on the higher-quality / lower-cost dynamic. This has resulted in an environment that is moving with building urgency toward greater clinical integration and population management.
As the evolution continues, purchasers will place more pricing pressure on the industry, and risk based contracts will become the norm. This step change will present the prepared provider with opportunities for margin retention / enhancement.
Risk Capability: Key to Future Success
These opportunities will be balanced by an increase to an organization’s business model risk. Therefore to thrive in this environment, healthcare providers must be prepared to accept greater risk for payment of services with greater insight into the impact that risk presents the organization both financially and operationally. This is the essence of risk capability. Increasing an organization’s risk capability requires a focus on three critical success factors:
- Enterprise Intelligence
- Revenue Transformation
- Clinical Enterprise Maturity
Read more about Risk Capability here.
The industry’s preparation for risk capability drives unique perspectives and approaches in Assurance, Tax and Consulting. With over 220 professionals dedicated to the healthcare industry, the resources of DHG Healthcare stand at the ready to assist our clients on their journey toward becoming more risk capable.