The Resources Global Professionals article titled “Healthcare Risk Isn’t What It Used to Be… Is Your Organization Prepared?” brings the significant risk strategic projects pose to market capitalization front and center.
So, you may be asking, “How I can apply these insights where it will make the biggest impacts?” If you are one of the many healthcare organizations spending most of your available capital on constructing new facilities, you can stop looking.
Historically, most of these projects missed their projected Net-Present-Value due to significant delays and budget overruns.
Many of the delayed go-lives and blown out budgets can and should be avoided using three easy steps:
- Evolve your Key Performance Indicators from simple on-time and on-budget to the assumptions in your business case that justified the investment:
- Market capture
- Retention
- Pull through revenue
- Validate your business case assumptions, ensure they align with the current state of your business operations, clinical and IT roadmaps
- Get a detailed understanding of the “owner provided” tasks and responsibilities:
- Developing new staffing models, compensation plans and performance incentives
- Developing workflows
- Adjust enterprise IT roadmaps and budgets
