In this series of articles below (Chapter 1 of Oliver Wyman's Health Innovation Journal: Volume 3), we explore three things many healthcare leaders remain fascinated by as gateways to organizational transformation and success: mergers and acquisitions (M&A), cost transformation, and social determinants of health (SDOH). All show promise of innovation as well as pitfalls. Knowing where to start is essential. This series of articles dives deep into how to design smart and effective efforts that spark meaningful impact ahead.
Now You See Us, Now You Don't
What can we learn from other industries where M&A led to immediate success? In healthcare, traditional and non-traditional flavors of M&A are most influential in shaping today’s landscape. Yet, a number of baseline considerations must be considered to drive transformation. Here's what leaders seeking M&A success should do (but don't do often), an analysis of a smoke and mirrors market, and a sampling of recent innovations to keep your eye on.
Fortune Favors the Bold
Cost takeout. Two dreaded words that often strike fear into the hearts of health system executives. Not all is gloom and doom, however. When every choice becomes a strategic decision, the imperative to remove costs becomes an opportunity to sharpen your strategy and redesign how your business operates. Here's how to implement process transformations, reject "business as usual", and position yourself for impact.
Are Social Determinants of Health the Holy Grail?
Health isn’t something addressed only in a doctor’s presence. “Health” is where patients live, who they communicate with, and how happy and safe they are. Many big initiatives in this space are underway. But many of them operate under a one-size-fits-all approach that doesn't consider patients' realistic expectations. A deeper collective understanding of the social-emotional needs of complex patient populations that's integrated with the careful, thoughtful roll-out of future plans will ensure social determinants of health programs successfully transform care delivery.