Few Providers Have Put Consumer-Centric Strategies into Action, According to First Annual Kaufman Hall and Cadent Consulting Group Report
Skokie, IL (PRWEB) November 01, 2016 -- Consumers occupy a central role in today’s healthcare system. Although U.S. hospitals and health systems recognize this role, few have put strategies in place to understand and meet consumers’ changing expectations, according to a new analysis by Kaufman, Hall & Associates, LLC, a leading provider of strategic, capital, financial, and transaction advisory services, software tools, and data analytics, in partnership with Cadent Consulting Group, LCC, a consulting firm focused on consumer strategies for profitable growth.
The survey gathered responses from more than 100 U.S. hospitals and health systems, finding that a large gap exists between the priority placed on consumerism and organizations’ ability to apply consumer insights to healthcare service design. Common barriers offered by respondents include resistance to change, lack of urgency, competing priorities, and data challenges.
The findings are a study in contrasts:
• 66 percent of respondents believe that consumerism is a priority, but only 23 percent have the strategic insights necessary to take action, and only 16 percent have the capability to implement strategies based on those insights.
• 79 percent of respondents said there is a pressing need to understand and enhance patient experience, but only 18 percent have employed advanced means to do so.
• Only 29 percent of respondents consider strategic pricing a high priority, and only nine percent have advanced pricing strategies in place.
The report also provides examples of successful consumer-focused practices.
“Emerging leaders recognize that in today’s healthcare environment, consumerism it is not a program or a problem to be solved, but a key to growth,” said Paul Crnkovich, Managing Director, at Kaufman Hall. “Typically, successful organizations start with a high-impact focus area while laying the foundation for broader consumer-centric capabilities.”
“Our findings show that healthcare executives recognize the many operational areas that require consumer insights, from strategic planning to site selection,” said Ken Harris, Managing Partner, Cadent Consulting Group. “The next step is for organizations to establish clear strategic and business-unit goals that ensure consumer-centric insights are developed and applied across the enterprise.”
Kaufman Hall’s 2016 State of Consumerism in Healthcare report establishes a baseline for healthcare’s transition toward a stronger consumer orientation, while providing examples of how to make that transition more effectively. To access the full report, visit kaufmanhall.com/consumer.
About Kaufman Hall
Kaufman Hall provides management consulting services and enterprise performance management software that help organizations realize sustained success amid changing market conditions. Since 1985, we have been a trusted advisor to hospitals and health systems, helping them incorporate proven methods into their strategic planning and financial management processes and quantify the financial impact of their plans to consistently achieve their goals. Kaufman Hall helps clients identify and execute strategic initiatives that drive market and financial performance; provides financial advisory services to clients seeking capital; prepares and implements integrated strategic, financial, and capital plans; designs comprehensive capital allocation processes; and assists in the evaluation, structuring, and negotiation of partnership and divestiture opportunities. Additionally, we provide sophisticated, integrated, and intuitive software solutions for long-range planning, budgeting, forecasting, reporting, capital planning, profitability, and cost management on a single platform.
About Cadent Consulting Group
Cadent Consulting Group is a results focused marketing & sales consulting and analytics firm started by the founders/partners of Cannondale Associates/Kantar Retail. The Partners at Cadent are highly experienced business leaders with line management backgrounds and across-the-store, multi-channel category experience. Cadent develops strategies for growth supported by in-depth analytics and research for practical execution. Success for Cadent’s clients is measured the only way that matters: profitable and sustainable growth.
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Krysta Ferry, Aria Marketing for Kaufman Hall, http://www.kaufmanhall.com/, +1 6173329999 Ext: 213, [email protected]
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