Service Line management has become a vital strategy for healthcare organizations - particularly in clinical segments that play an essential role in the organization’s overall financial performance and market position.
Reasons organizations opt for instituting the service line strategy include the following:
- Provides a mechanism to identify and prioritize service lines with the greatest economic potential and market size (via Portfolio Analysis)
- Offers a substantiated model that has demonstrated success in increasing market share, volumes, and creating new revenue streams
- Creates a competitive advantage by aligning clinical services with the marketplace - promotes agility and responsiveness to customer needs and market changes
- Provides a framework for evaluating performance alongside local and national competitors (cost, profitability, clinical quality, customer service, and market share)
- Provides a framework for decision-making around capital investments and allocation of resources
- Provides a mechanism to align physician partners through economic integration, governance structures, and/or joint venture models
Managing clinical services as a strategic business unit (SBU) or service line requires a methodical business planning process. Our service line development process focuses on eight critical elements; the approach is customized according to each organization’s specific requirements. (Click for more information)
We have extensive experience working with clients to prepare service line business plans, facilitate organization development, and provide implementation support. Our most requested consulting services include business planning for the following service lines:
- Cancer Services
- Cardiovascular Services
- Orthopaedics & Spine Services
- Neuroscience Services
- Women’s and Children’s Services
- Other Service Lines
