SOURCE: BDC Advisors

BDC Advisors

October 14, 2014 14:38 ET

BDC Advisors Sets New Game Changer in Motion: Thinking Like a Health Plan

Hospitals and Health Systems Need to Take a Page From the Insurers' Playbook When Designing Approach to Population Health Management

MIAMI, FL--(Marketwired - October 14, 2014) - Featured on the cover of hfm Magazine, BDC Advisors,' "Think Like a Health Plan," highlights that health systems must change their business models if they want to survive current industry-disrupting forces caused by the Affordable Care Act (ACA). For those that do change and think like a health plan, market disruptions provide opportunities to increase market share and value through efficient, effective care.

It appears that trends in the new consumer healthcare markets may become similar to those in other consumer markets, such as automobile insurance, cable television, or cell phone plans, with a variety of product offerings reflecting different benefit packages at different price points. Organizations that do not adapt to the merging consumer market risk being left out of health plan networks, losing physicians to competing narrow-network groups and selective independent practice associations that do adapt, and losing patients, who are increasingly opting for lower-cost, narrow-network prices.

The transition for hospitals from having a purely provider perspective to thinking more like a health plan requires strategic alignment on four fronts.

  1. Health plan alignment
  1. Hospital and physician alignment
  1. Leadership alignment
  1. Organizational alignment 

"A successful population health system will need to keep a close eye on its core business, concentrating on the efficiency of hospital operations, because costs are major drivers in the selection of providers for new narrow-network products. A pluralistic physician strategy is needed," according to Krista Bowers and Bill Eggbeer, Managing Directors of the firm and co-authors of the featured story.

As a national healthcare consulting firm specializing in strategic business planning and business diversification for large integrated healthcare delivery systems, BDC Advisors has helped hospitals transition to thinking more like a health plan for years. Learn more about this topic by downloading the full article.

BDC Advisors is a national healthcare consulting firm headquartered in Miami, which specializes in strategic business planning and business diversification for large integrated healthcare delivery systems, academic medical centers, and managed care organizations. For more information visit www.bdcadvisors.com. Follow us on Twitter @BDCAdvisors.

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