Essentials of healthcare strategy and performance management: a practical guide for executives and emerging leaders

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

1. Prepare for Benchmarking Visit 186

1. Conduct Site Visit 188

1. Adopt and Integrate Best Practices. 188

Guidelines for Performance Management 188

Define Success More Carefully. 189

Measure Historical Performance. 189

Forecast Desired Improvement Target 190

Don’t Let Benefits Leak Out 190

Chapter Summary. 191

Discussion Questions. 191

Key Terms. 192

References. 192

Chapter 12: Managing Organizational Quality. 193

Introduction. 193

Quality. 193

Quality Management 198

Core Components of Quality Management 200

Planning, Control, Improvement 202

Need for Healthcare Improvement 203

Performance Improvement 205

Summary. 208

Key Terms. 209

Discussion Questions. 209

References. 209

Chapter 13: Continuous Performance Improvement 212

Introduction. 212

Quality Measures. 212

Structural Measures. 213

Process Measures. 213

Plan-Do-Check-Act 215

Six Sigma. 216

DMAIC.. 217

Managing Defects. 219

Process Capability Index. 221

Six Sigma Benefits. 221

Lean. 222

Lean Versus Six Sigma. 223

Theory of Constraints. 225

Process Modeling. 226

Other Tools and Techniques. 230

Chapter Summary. 231

Discussion Questions. 231

Key Terms. 232

References. 232

Chapter 14: The Practice of Strategy. 233

Bringing it All Together 233

Becoming a More Effective Healthcare Leader 234

Chapter Summary. 237

Discussion Questions. 237

Key Terms. 237

References. 237

Glossary of Key Terms. 238

About the Author 252

Contributing Authors. 253

[https://www.routledge.com/Essentials-of-Healthcare-Strategy-and-Performance-Management-A-Practical-Guide-for-Executives-and-Emerging-Leaders/Langabeer-Champagne-Langabeer/p/book/9781032623702?srsltid=AfmBOorV_PR74ni4R1HtRprWeplVCEX4iz3TTseaiEsXGlXVCksAsJTb]

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.

(https://www.routledge.com/Essentials-of-Healthcare-Strategy-and-Performance-Management-A-Practical-Guide-for-Executives-and-Emerging-Leaders/Langabeer-Champagne-Langabeer/p/book/9781032623702?srsltid=AfmBOorV_PR74ni4R1HtRprWeplVCEX4iz3TTseaiEsXGlXVCksAsJTb)