Grappling with growth: A partnership journey

Imran Andrabi, David Olson, Chris Masone and Sarah Hereford
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Imran Andrabi: ThedaCare Inc., USA
David Olson: Froedtert Health, USA
Chris Masone: FORVIS, USA
Sarah Hereford: FORVIS, USA

Management in Healthcare: A Peer-Reviewed Journal, 2024, vol. 8, issue 3, 261-270

Abstract: While growth means different things to different organisations, the accelerating scale of consolidation within the healthcare industry indicates that innovation and flexibility will be paramount when developing future strategies. Driving long-term organisational performance requires dedication to mission-aligned, profitable growth. Today’s leaders are positioning their organisations to capitalise on present and future opportunities to drive improved systems of care and long-term financial success. But those opportunities may come in non-traditional forms with unexpected partners at times. When approaching growth opportunities, the best practice strategy for a growth-forward organisation relies on the results of five important steps: align, design, navigate, integrate and optimise. Once completed and the growth opportunity is clearly defined, deploying an effective governance structure and engagement strategy are critical next steps. With these steps completed, opportunity defined and the right team in place, execution and optimisation can begin. This case study addresses the importance of establishing guiding principles and define six to live by: trust and transparency, exceptional quality, innovative transformation, community focus, value creation and disciplined execution. With these principles to guide the way, the group envisioned the various partnership opportunities across the two organisations and prioritised a successful quaternary partnership and joint venture. The successful partnership continues to pursue benefits for partners and patients with improved access across the continuum of care and enhanced outcomes through better continuity and integration. Through openness to unexpected opportunities and the agility to pivot to those opportunities, healthcare leaders are enabling themselves to capitalise on present and future opportunities to drive improved systems of care as well as long-term financial success, as exemplified in this case study.

Keywords: joint venture; value based care; health equity; acute care; growth strategy; partnership (search for similar items in EconPapers)
JEL-codes: I1 I10 (search for similar items in EconPapers)
Date: 2024
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