Essentials of healthcare strategy and performance management: a practical guide for executives and emerging leaders
- New York Routledge 2024
- xx, 206 p.
Table of content: Part I: Strategic Thinking. 16
Chapter 1. Strategy and Competition. 17
The Need for Strategic Thinking. 17
Defining Strategy. 17
Competitive Strategy. 21
Strategy as Practice. 23
Results Orientation. 25
Strategic Intent 27
Chapter Summary. 29
Discussion Questions. 29
Key Terms. 29
References. 30
Chapter 2. Strategic Decision-making. 31
Becoming More Strategic. 31
Defining Success. 31
Strategy and Leadership. 33
Predict and Anticipate. 33
Challenge Existing Mindsets. 33
Synthesize and Interpret Confounding Information. 34
Seek Alignment within the Organization. 34
The Limits of Rationality. 35
Strategic Decision-making. 36
Re-Framing Decision-Making. 40
Steps Toward Strategic Decisions. 43
Discussion Questions. 45
Key Terms. 45
Chapter 3. Strategic Intelligence. 47
What is Strategic Intelligence?. 47
Strategic Intelligence Framework. 49
Intelligence Parameters: Defining Intentions and Framing the Objectives. 49
Conducting Intelligence Research. 51
Analyzing the Data: Making Sense of the Information. 53
Recommend and Monitor 58
Chapter Summary. 60
Discussion Questions. 61
Key Terms. 62
References. 62
Chapter 4. Strategic Planning. 63
Strategic Planning. 65
Preparation. 66
Incorporate Intelligence. 67
Assess the External Environment 67
Assess the Internal Environment 69
Conduct a SWOT Analysis. 69
Generate Strategic Alternatives. 71
Flawlessly Execute. 71
Planning Tips. 72
Chapter Summary. 73
Discussion Questions. 73
Key Terms. 74
References. 74
Chapter 5. Strategic Data Analytics. 75
Strategic Analytics. 76
Analytics for Strategic Planning. 79
Using Data to Perform a Healthcare Environmental Assessment 89
Population. 95
Use Rate. 97
Market Share. 98
Using Data to Perform an Internal Assessment 101
Chapter Summary. 105
Discussion Questions. 105
Key Terms. 105
References. 105
Part II: Strategic Leadership. 107
Chapter 6. Leadership. 108
The Evolution in Leadership. 108
Leadership Styles. 109
Qualities of Good Healthcare Leaders. 111
Importance of Leadership Development in Healthcare. 114
Challenges faced by Healthcare Leaders. 115
Driving Innovation. 117
Chapter Summary. 118
Discussion Questions. 119
Key Terms. 119
References. 120
Chapter 7. Leaders as Entrepreneurs. 121
How Leaders Choose. 121
Creating an Optimistic and Story-Based Culture. 123
Entrepreneurial Thinking. 126
Intrapreneurs Unlock Innovation Internally. 128
Benefits of Being Entrepreneurial 129
The Leadership Challenge. 129
Overcoming Challenges and Building a Culture of Innovation. 130
Chapter Summary. 131
Discussion Questions. 131
Key Terms. 132
References. 132
Chapter 8. Governance and Boards. 134
Governance Basics. 134
Governance Roles. 135
Building Better Boards. 136
Six Factors that Create Better Board Governance. 137
Chapter Summary. 141
Discussion Questions. 141
Key Terms. 142
References. 142
Chapter 9. Growth Strategies. 143
Three Forms of Growth. 143
Strategic and Economic Analyses. 145
Transition Plans. 147
Integration. 148
Growth Strategy. 149
Rationale Behind Mergers and Acquisitions. 150
International Growth. 151
Motivations and Intent behind International Growth. 152
Chapter Summary. 153
Discussion Questions. 154
Key Terms. 154
References. 154
PART III: Strategic Execution. 156
Chapter 10: Flawless Execution. 157
Putting Strategy into Action. 158
Leaders Define Success in Practical Terms. 158
Leaders Set Challenging Goals and Monitor Progress. 159
Leaders Recruit and Empower the Right People. 160
Leaders Build Alignment 161
Leaders Reward Their Team.. 162
Leaders Remove Obstacles. 162
Leaders Adapt When Necessary. 163
Project Management 164
Chapter 11. Managing Performance. 168
Toward Operational Excellence. 168
Performance Management 168
Healthcare Strategy and Performance for Non-Profits. 171
Performance Framework. 173
Change versus Improvement 176
Performance Management Basics. 177
Performance-Based Planning. 177
Goal Setting. 180
Case 11.1 Hanes Hospital 181
Benchmarking. 183
1. Identify Problems and Gaps. 184
1. Research and Identify Best Practice Organizations. 185
Leaders of healthcare organizations and students aspiring to become one, should be asking themselves one thing in these financially challenging times: how can they maintain a strategic and competitive advantage over other players in their market? Some healthcare organizations have faced extremely poor financial performance in recent years, with data suggesting that up to 10% of hospitals will go bankrupt or face closure within the next 10 years. Yet, little pragmatic evidence exists to offer insights into how to create better strategies to improve performance, build resiliency and align stakeholders.
Essentials of Healthcare Strategy and Performance Management explores the most critical components of business strategy and performance management for modern, complex healthcare organizations. Using pragmatic and real-world evidence, this book provides essential briefings on key topics that every current or aspiring leader needs to know in order to better manage strategy and achieve improved performance in their hospital or health system. We will also specifically focus on implementation of strategy, and best practices for some of the most important quality management techniques. We hope this book helps inspire leaders to be creative in formulating more effective competitive strategy.