expanding the market...competition could result in lower market share, loss of revenue and increased...

8
1 EXPANDING THE MARKET for WakeMed Children’s WakeMed Children’s, a leading community health system, faced competitive pressures from several large academic health centers expanding into its region. Increased competition could result in lower market share, loss of revenue and increased intensity to attract and maintain patients. Accenture was engaged to help develop and implement a five-year strategic plan to improve growth in community healthcare, differentiate WakeMed and “win in the market.”

Upload: others

Post on 16-Mar-2020

2 views

Category:

Documents


0 download

TRANSCRIPT

1

EXPANDING THE MARKET for WakeMed Children’s

WakeMed Children’s, a leading community health system, faced competitive pressures from several large academic health centers expanding into its region. Increased competition could result in lower market share, loss of revenue and increased intensity to attract and maintain patients. Accenture was engaged to help develop and implement a five-year strategic plan to improve growth in community healthcare, differentiate WakeMed and “win in the market.”

22

3

WakeMed Children’s is a leading pediatric hospital with associated emergency outpatient services and part of the largest health system in Wake County, North Carolina. Their facilities and services provide healthcare for the entire community. WakeMed Children’s has embarked on a journey to transition from an acute-focused hospital to a pediatric community health system which will deliver a broader suite of healthcare services including:

• Expansion of Subspecialties & Programs

• Child Life & Family Centered Services

• Community Partnerships

• Rehabilitation Programs

• Primary and Urgent Care

• Virtual Care

• Surgical Services

• General Children’s Hospital and

Community Physicians

It is predicted that the future of healthcare will be consumer oriented and health systems will have to adapt to provide a holistic/seamless approach to patient care.

With new competition entering the market, WakeMed wanted to better understand new growth opportunities, competitively differentiate themselves in the market and better meet the needs of the community. The hospital embarked on a five-year strategic plan to effectively transition from an acute-focused pediatric hospital to a children’s community health system. The acute focus was centered around WakeMed’s pediatric and neonatal intensive care units while the shift to a community health system would create a seamless patient and family centered ecosystem that better supports the health needs of the community across the care continuum.

To accomplish these goals WakeMed needed solutions that would address their current business challenges:

Future growth for the children’s hospital

Market differentiation

Brand Awareness

Seamless care across the ecosystem

CLIENT PROFILE

OPPORTUNITY

01020304

4

Opportunities included:

WakeMed asked Accenture to help produce a strategy based on five key goals and to create a vision for growing their brand and its footprint over the next five years.

Immediate Goals

STRENGTHEN THE PEDIATRIC AMBULATORY NETWORK: Determine opportunities for Pediatric Primary Care expansion, affiliation options and strategies to capitalize on Primary Care opportunities to supplement existing community physician practices.

CLOSE GAPS IN THE CARE ECOSYSTEM: Address care transition gaps (i.e., pediatric, adult, community physicians, women’s health) and assess opportunities for sub-specialties and key support services.

BUILD PEDIATRIC AWARENESS: Develop a distinct children’s brand and optimize existing online channels (google search, patient reviews, hospital wayfinding and navigation, etc.).

• Understanding the current state of pediatric services in the Raleigh metropolitan area including inpatient, primary care footprint, affiliation types and care saturation.

• Assessing future market demands (five - ten years) for services and physicians based on population growth, outpatient shifts, practice changes and new care models.

• Analyzing patient experience provider benchmark data to identify patient desires and preferences.

• Determining opportunities for expansion, consumer centricity, priority regions and pain points that should be addressed.

5

The client asked Accenture to build a customized growth model to help define the pediatric vision and strategy, inventory opportunities and develop a roadmap for a five-year market expansion plan. Accenture also led a strategy retreat which focused on the following components:

To help develop an agile growth strategy, Accenture embarked on a robust strategic planning process over the course of six weeks to determine best outcomes for WakeMed’s five-year plan. Using Accenture technology, consumer survey data and a customized Strategic Insights Model, WakeMed was able to identify growth opportunities and consumer demands in the Raleigh Durham market.

SOLUTION

• Market trends and leading practices in pediatric health systems.

• Competitive positioning relative to key competitors and competitive advantages.

• Creation of an executable vision that includes high-level priorities for the future strategy.

Long-term Goals

REMOVE ACCESS BARRIERS: Remove records requirements, standardize physician templates and streamline scheduling protocols to enable direct scheduling (and eventually self-scheduling).

IMPROVE COMMUNICATIONS PLATFORMS: Leverage Technology to use as an engagement platform and to increase enrollment. Improve awareness and use of new technologies and tools to improve connection with physicians.

6

Accenture analyzed detailed local market demographic data to identify priority regions for current and future markets with consideration of five and ten-year reform trends across 40 groups in the General and Internal Medicine Clinical Service Category (CSC). The local data analysis then used benchmarks that included population growth, aging and local area variation to determine inpatient and outpatient trends. The information was then used to create a long-term roadmap based on build, buy and affiliate options across each specified region.

WakeMed was able to meet its goals by properly aligning its strategy to meet market trends. Accenture helped define the pediatric vision, strategy and roadmap for a five to ten-year expansion plan. The team also developed a roadshow deck that allowed the client to market their plan and objectives to internal stakeholders over the next five years.

With a better understanding of patient trends within specified regions, WakeMed Children’s is now able to properly align its strategy and use quantifiable metrics to quickly move into the market. Additionally, they can use a customized strategy model to better determine where pediatric market growth and saturation will be in the future. This provider now understands where competition sits in the market and can better deploy the right number of physicians to meet local demand.

Results

The planning process included:

5 YEARS OF MARKET AND OUTPATIENT DATA ANALYZED

500 CHILDREN’S PATIENTS SURVEYED

61 PEOPLE INTERVIEWED

60 CALLS

Market DynamicsAssessment of market share, patient growth and procedure growth to understand market characteristics

Provider BenchmarksNational patient experience provider benchmark study to identify patient desires and preferences

Interview ThemesInformal interviews to identify and validate WakeMed’s market position, strengths and weaknesses

Secret ShopperSecret Shopper research to identify patient pain points and service/access gaps

77

8

ABOUT ACCENTURE INSIGHT DRIVEN HEALTH

Insight Driven Health is the foundation of Accenture’s innovation-led approach to more effective, efficient and affordable healthcare. Our committed professionals operate at the intersection of business and technology to combine real-world experience, business and clinical insights and innovative technologies to deliver the power of insight driven health. That’s why the world’s leading healthcare payers, providers and public health entities choose Accenture for a wide range of services and technologies that help them use knowledge in new ways. From the back office to the doctor’s office, we help our clients improve business and health outcomes. Visit www.accenture.com/health.

ABOUT ACCENTURE

Accenture is a leading global professional services company, providing a broad range of services and solutions in strategy, consulting, digital, technology and operations. Combining unmatched experience and specialized skills across more than 40 industries and all business functions — underpinned by the world’s largest delivery network — Accenture works at the intersection of business and technology to help clients improve their performance and create sustainable value for their stakeholders. With 469,000 people serving clients in more than 120 countries, Accenture drives innovation to improve the way the world works and lives. Visit us at www.accenture.com.

Copyright © 2019 Accenture.All rights reserved.

Accenture and its logo are trademarks of Accenture.