Why Should You Take the Opinion of A Consultant for Your Expansion Plans?
Expansion of your hospital is not only to promote its profitability but also to provide extended and advanced services and serve the community. Every growing hospital envisages an expansion sooner or later in order to tap emerging opportunities and improve its bottom line. But if this expansion is not properly planned and executed, the hospital may incur heavy losses. Healthcare strategy planning is a must to ensure successful hospital expansion and this can be accomplished only with the guidance of a healthcare consulting firm.
What is the Need for Hospital Expansion?
- Hospitals need to expand when they
- Outgrow the existing medical facilities
- Have to meet the demands of growing population or emerging diseases.
- Have to install new equipment or diagnostic services
- Wish to tap new clinical opportunities
- Wish to provide extended medical facilities
- Want to set up an additional facility in the same or other location
- Seek to provide community service in remote locations
- Want to improve their bottom line or net earnings as part of the hospital business plan.
Why is Healthcare Strategy Planning Needed for Hospital Expansion?
Healthcare strategy planning is vital for hospital expansion due to the following factors.
1. To optimize the use of resources in achieving expansion.
A Hospital expansion is a big budget business. It has to planned, budgeted and monitored meticulously to optimize the use of limited resources.
2. To realize the ultimate goal of expansion
If the aim of expanding the hospital is to improve the net profit, your expansion must be planned to achieve that. If the aim is to provide humanitarian service to the community, the expansion project should revolve around this. Whatever the goal may be, healthcare strategy planning helps you realize it in a systematic manner.
3. To provide sterling service and achieve patient satisfaction
With the Medicare industry adopting a patient-centric approach, ensuring patient satisfaction has become the prime focus of hospitals. hospital expansion too must be planned while keeping in mind the patients' needs. This is achieved only with careful planning and strategizing from a healthcare management consulting firm.
4. To outwit competition
Competition is thick in the healthcare industry and to gain the leading edge, healthcare strategy planning is a must. A healthcare management consulting firm helps hospitals to expand while thinking innovatively of ways to optimize this expansion in outsmarting competition.
Why Do We Need A Healthcare Management Consulting Firm in Hospital Expansion?
Hospital expansion is no easy task. It requires immense expertise, abundant resources and a foolproof plan and execution methodology to make it work. A healthcare management consulting firm offers the best guidance in such a mammoth project by the following measures.
- The healthcare consulting firm assesses the existing hospital infrastructure and identifies the problem areas to be addressed during expansion.
- It evaluates various aspects of the hospital like the building layout, traffic flows, maintenance challenges, equipment accessibility, energy usage and efficiency, patient routing, staff efficiency, patient safety etc.
- It helps in earmarking a budget for the project by including the hard costs of material and labour, soft costs like taxes and surveys, and the financial payments like loans and interests.
- It helps the hospital to fix a timeline and schedule for the whole project.
- It liaises with fellow physicians to engage them as part of the expansion team and also helps in selecting the clinical staff as well.
- The launch, marketing and public relations of the hospital's expansion project are also well handled by the healthcare consulting firm.
An expansion is a dream come true for many hospitals. Transform this dream into a concrete reality by joining hands with a healthcare consulting firm who have the right experience, expertise and engagement.