We have grown accustomed to dealing with regulatory change, competitive dynamics, evolving trends, and advances in consumer expectations. At times it can feel like there is too much change on deck in healthcare when there are still so many primary operational issues demanding day-to-day attention.
All this is true, yet over the past several decades, healthcare has been relatively stable when compared to the upheaval in other sectors of society. The pandemic accelerated a pathway to accessing care via various channels, but we are still early on the trajectory of seeing how these dynamics could reshape how we deliver and pay for healthcare.
Healthcare organizations themselves vary in the pace and scale of their adoption of change. Sometimes what feels like transformational within an organization is actually working toward capabilities that are already broadly adopted throughout the industry. The Innovations vs New-to-You framework offers a means to understand how initiatives on a strategic portfolio position an organization for the future.
Innovation vs. New-to-You graphic created by Spring Street Exchange print version here
As healthcare companies face increasing competition and recognize even more change on the horizon, many are taking a bolder and more purposeful approach to strategy. As they do, it is important to recognize that sometimes dramatic change within an organization can still be catching up to evolving industry standards.
For those aiming to bring true innovation and change to an industry very much in need of it, they need to think longer-term and be willing to break existing conventions. A fresh five- or ten-year strategy can reframe how an organization goes about its near-term change. It can also infuse an organization with purpose that is both aligning and motivating.
At Spring Street this dynamic is infused throughout virtually all of our engagements. When an organization has an aligned view of its aims for the future, its vision can help to clarify decision-making in the here and now. And aligned vision supports not just the strategic portfolio but can also provide guidance on how to approach operational and administrative goals. With this mindset, every healthcare organization has the means to carve out its own unique space in the landscape of the future. Within our strategic planning practice Spring Street supports clients practical tools to develop and execute a differentiating strategic position in the market.
We all want to be working toward how healthcare should be rather than helping the healthcare industry get better and better at how it has always been.