Ensuring success in the evolving hospice landscape remains a key focus for care at home leaders. Although the landscape can be challenging, there are several strategies that leaders can employ to foster growth.
Christina Andrews, Senior Director of Professional Services at 小猪视频 and Carla Davis, Former Senior Vice President of Hospice Operations at LHC , the future investment trends discovered in 小猪视频鈥� and strategies organizations can use to ensure growth.
Partnerships and Internal Improvements
In the discussion, Andrews highlighted that providers are increasingly focusing on partnerships and expanded services as they look to cement growth strategies in the coming years. Rather than prioritizing traditional avenues like mergers or integrations for growth, she noted that organizations are instead looking inward, emphasizing internal improvements.
“Our indicates that providers are planning on focusing as it relates to growth through partnerships, expanding services and adapting to value-based models for growth beyond 2025,鈥� said Andrews. 鈥淢ergers and acquisitions were the least chosen strategy which suggests that providers are prioritizing internal improvements over integration.鈥�
Davis echoed this sentiment, adding that organizations should also explore strategies like consumer direct marketing, service differentiation and sales force size and structure.
Organizations should continue to make patient-centered care improvements and invest in technologies that will help them streamline their operations. These investments can increase efficiency and reduce operational costs, helping them to overcome barriers to growth.
Leadership and Teams
Davis emphasized the importance of leadership and team dynamics in driving growth and success in hospice organizations. Despite the range of strategies available, none can be actualized without the right people in place.
鈥淭hose are all strategies and they鈥檙e great strategies,鈥� Davis said. 鈥淏ut they鈥檙e just that and without amazing leadership and great teams, none of it actually gets accomplished.鈥�
With the challenges of increased competition and decreased market share, Davis highlighted the need for hospice organizations to be agile and adaptable. She noted that providers should focus on inspiring their teams toward growth and guiding team members through the challenging environment.
Organizations should leverage the strength of their teams to ensure growth. Leaders should invest in training their staff to ensure they are proficient in innovative technologies and can provide the highest quality care for patients.
鈥淢aybe it鈥檚 my bias, but I think the answer is always the people,鈥� Davis said.
To learn more about how hospice providers can ensure growth and achieve success in a changing and challenging environment, register for 小猪视频, May 5-7 in Dallas.