The need to understand performance of specific aspects of the healthcare business has never been more important than today when costs and payments are not always in synch. More and more providers are assessing their specific service lines, or business lines, to provide a foundation from which thoughtful decisions can be made for resource allocation.
New Heights Group has assisted numerous providers with service line assessments, and has developed a comprehensive assessment model that incorporates:
- Market position and market outlook
- Financial performance
- Operational performance
- Physician and management leadership
- Strategic importance
This approach provides organizations with the information necessary to make strategic and proactive decisions regarding resource allocation and organizational priorities. Our approach helps identify underperforming services as well as high performing services that are at risk for a market shift (e.g., effect of drug eluting stents on cardiac surgery).
We have provided service line assessments for a variety of clients including rural and critical access hospitals that have limited lines of business, large tertiary centers, post acute care businesses, and hospital systems evaluating core and non-core lines of business.
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