After grappling with a year of unprecedented challenges, businesses (especially those in healthcare) are finally starting to see the light at the end of the pandemic tunnel. Companies were forced to quickly adapt to the changing marketplace, implementing new strategies and business models to keep operations running at the height of Covid-19.
Now that companies are no longer playing defense, it’s time to refocus efforts on the projects and management-related initiatives that were in the pipeline pre-pandemic.
Recover & Drive New Revenue
As the crisis abates, companies will need to act quickly – positioning themselves for long-term profitability. Revisiting project initiatives from before the pandemic offers businesses a unique opportunity to gain a competitive edge and recover revenue in a timely matter.
Agility, action, and accountability will be vital for ensuring projects are handled at an optimal level. What’s more, businesses will need to be flexible and adaptable in order to overcome disruptions to the traditional ecosystem they’re accustomed to operating within. Everything from expanding telemedicine offerings to increasing staff for new patient-centric initiatives will require a fresh strategy and approach to account for today’s new “normal.”
Identify and Prioritize Lucrative Patient-Centered Project Initiatives
Thriving in the post-pandemic economy requires business leaders to quickly identify which care-focused initiatives will attract more patients and thus drive the greatest profitability. They also must take the necessary steps to get the ball rolling before the market becomes saturated by competitors– whether that means reallocating budgets to proven growth sources, digitizing communication channels, upskilling providers via new training programs or automating processes (patient portals, appointment setting, etc.).
Executing these initiatives means having a firm understanding of how the industry has evolved due to the pandemic, as well as implementing strategies that play to the company’s strengths. This will also require making vital investments where necessary to ensure everything from management to the patient experience is seamless and high-quality.
Create Rigorous Project Execution Plans
While revisiting project initiatives from 2019 and 2020 is vital for company growth in a post-pandemic world, it won’t translate into success unless each undertaking is executed in a highly disciplined manner. Medical business leaders will need to establish detailed plans, as well as gain buy-in from staff, clinicians and other executives, ensuring that engagement is high.
Now that forecasting patient demand and behavior has become so difficult, companies must utilize multi-scenario planning to quickly adapt to the ever-changing environment. In some instances, this may even require leaders to take some risks in order to meet evolving patient needs – ensuring retention, loyalty, and referrals remain strong and efficient.
In order to carry out pre-pandemic project initiatives, companies must have the right talent in place. At Polaris, we help businesses in the healthcare space devise innovative recruitment strategies designed to optimize ROI, drive business growth and enhance the patient experience.
To learn more about how our team of experts can help your healthcare organization, contact us today.