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How To | Healthcare Business Trends

Keys to Growing High-Value Service Lines

How To | Healthcare Business Trends

Keys to Growing High-Value Service Lines

Growing top-performing service lines can be an effective strategy for healthcare organizations to advance their business objectives.

A major health system with hospitals across the southwestern United States developed a data-driven plan for growing their high-value service lines in their local geographies. Here are the key steps:

Evaluate Long-Term Growth Trends

Their first step was to analyze five years of retrospective data to evaluate growth trends by physician in each of their identified key service lines.

Set Growth Expectations & Goals

The next step was to analyze physician utilization from highest volume to lowest by payer mix and contribution margin. This analysis helped them establish groupings of physicians with productivity expectations for each group.

Report on Progress

Finally, they developed reports to keep track of groups’ growth goals. First year results added $56 million year over year in incremental revenues across five key service lines.

View full article here:  How to Grow High-Value Service Lines Effectively

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