Strategies for disruptive innovation in healthcare - Impact Advisors

Our solutions are designed to deliver financial value—addressing both the challenges you see and the ones you’ve yet to uncover—and we implement collaboratively and cross-functionally to create ownership and capability among your teams, because transformation shouldn’t stop when our team wraps a project.

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Impact Advisors’ multi-faceted, highly skilled team will unlock the full potential of your revenue cycle, transforming your business through improved margins, enhanced patient experience, and greater satisfaction of empowered, high-performing teams.

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Data-driven solutions that align supply with demand, capture efficiencies, and enable you to better source, retain and manage teams.

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Combining operations, clinical, analytics, and IT expertise, we develop and implement tech-enabled optimization solutions to improve your supply chain’s financial and operational performance.

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Clarifying roles and responsibilities, streamlining processes, centralizing services, and utilizing automation can drive significant cost savings (10%) and improve employee engagement without negatively impacting the support delivered or patient care.

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Empower your teams with clinically-optimized, evidence-based, tech-enabled care pathways. We work with hundreds of leading hospitals, health systems, specialty care and physician groups to improve the quality, safety, efficiency, availability, and outcomes of clinical care. Our experts understand the workflows and know the EHR systems, building trust quickly among your clinical teams to accelerate results.

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Leveraging the full depth and breadth of our clinical (Nursing, ED, Lab, Peri-Op, and Imaging), operations, analytics, and IT expertise, we partner with your teams to develop and implement clinically optimized, evidence-based, tech-enabled solutions that drive CMS quality and patient satisfaction scores up.

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We work with clients who are just starting to move from volume to value or who are already in a value-based care arrangement and need to improve their operational and financial performance.

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Transform medical groups into high-performing, value-generating provider enterprises through improved patient access and scheduling, optimized coding and documentation, and aligned incentives.

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We help clients establish, grow, and improve their telehealth and overall virtual care services through access transformation.

Getting full value from technology investments requires doing a lot of things right. Or just one… choosing the right partner. Impact Advisors has been helping clients select, plan, implement, optimize, and scale technology for over 15 years. We push you to think beyond surviving the challenges of today to a position of strength and unparalleled performance.

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Impact Advisors has led and/or supported over 100 highly successful EHR implementations. By skillfully planning and executing projects, integrating clinical, revenue cycle and operational workflows, and incorporating best practices and lessons learned, we help clients obtain greater value from their system investments.

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We deliver greater ERP value. From assessing performance to advising on process design and effective use of enabling technology to implementing and optimizing those technologies and supporting true transformation initiatives, we create greater “system-ness” and value for our healthcare customers.

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From targeted staffing to comprehensive, outcomes-based solutions, we support enterprise and adjacent business and clinical applications including EHRs, ERPs, and ITSMs. Our tailored solutions and teams align to your enterprise goals, adopt your tools and technologies, and provide industry-leading customer service focused on reducing demand.

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Security leadership and expertise to identify risk and develop remediation plans, benchmark security maturity and measure improvement, interpret regulatory requirements, and create programs to ensure compliance.

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Impact Advisors leverages a significant catalog of experience to help our clients align business and IT strategies, streamline IT project prioritization and decision-making, optimize the performance of technology, and take bold steps toward innovative care models.

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Whether you are just getting started on your journey or already have digital tools poised for scaling and driving adoption, we can help you identify and refine the strategic and tactical roadmaps necessary to deliver a high quality, differentiated experience for your patients, consumers, and providers.

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Now is the time to be bold. We have your back, helping you develop innovative and holistic strategies to compete, evolve, and grow, and we’ll demonstrate their viability and value. Next—and this is where you will find we’re different—we help you fund those strategies with targeted improvement initiatives and “hard-wire” changes with structures and systems that ensure sustainability and continuous improvement.

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Informed, agile decision-making is a critical enabler for any organization, especially those on the leading edge of innovation. Our experts will help you access and leverage data and artificial intelligence, turning it into actionable insights.

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The complexity of pulling together two or more organizations (or pulling them apart) cannot be understated, and that’s after the grueling process of determining it’s the right thing to do in the first place. Impact Advisors offers expertise at every stage—due diligence, planning, integrating, and operating—to help achieve your M&A objectives and deliver the value expected.

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For any significant organizational change to succeed, people must understand it, adapt to it, and embrace it. Impact Advisors brings a structured approach, certified change experts, and a strong commitment to helping you cultivate these responses instinctively, for this change and those to come.

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We work with payers of all sizes and types, including commercial, Medicare, Medicaid, and managed care organizations, helping improve performance, optimize operations, and innovate business models. As former leaders in the healthcare payer industry, we’ve faced the same challenges and know which strategies are most effective for overcoming them. And using a highly collaborative approach, we help you operationalize them quickly.

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Impact Advisors knowledge and experience working with both healthcare payers and providers gives us a unique perspective and valuable insights. From cost of care improvement, to operational efficiency, to growth and revenue, to supporting technology and analytics, developing successful strategies requires a deep understanding of your challenges and a balanced response to them.

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Impact Advisors helps payers optimize business processes and manage complex programs to achieve operational excellence and customer satisfaction. We leverage our proven methodologies, best practices, and industry benchmarks to assess, design, and implement solutions that align with your strategic goals and deliver measurable outcomes. Whether you need to streamline claims processing, improve care management, enhance your provider network, or transform your customer service, we have the expertise and tools to help you succeed.

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We help payers develop new products and services that meet the evolving needs and expectations of their customers. Whether you want to launch a digital health platform, offer personalized wellness programs, or create value-based payment models, we can help you design, test, and implement innovative solutions that differentiate you from your competitors. We also help you leverage data and analytics to make more informed decisions and optimize your performance.

innovation

Nov 01, 2022

Disruption and Innovation: Actionable Strategies for 2023

Written by Jason Fortin

Category: M&A

As nontraditional competitors steadily gain traction in health delivery – especially in primary care – it is more critical than ever that hospitals and health systems get innovation “right.”

Nontraditional Competitors in Health Delivery Are Rapidly Evolving

Onsite and virtual care options from:
- Major pharmacy, retail, and/or grocery chains
- Independent urgent care centers
- Employer-sponsored worksite clinics
- Payer programs and initiatives
- “Concierge medicine” providers
- Emerging tech-enabled primary care startups
Acquisitions by private equity firms
- High-value specialty areas (dermatology, orthopedics, etc.), imaging, ambulatory surgery centers

Major players like CVS, Walmart, and Amazon – which have inherent advantages over traditional providers such as brand recognition, deep pockets, and technology assets – are aggressively expanding their footprint in health delivery through acquisitions and partnerships. The litany of recent announcements from these companies (and others) underscores the willingness – and ability – of nontraditional competitors to quickly pivot and embrace bold changes in order to capitalize on perceived opportunities in health delivery. Providers should fully expect that trend to continue, regardless of the success or failure of any individual near-term initiative or announcement.

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Actionable Strategies

Foster a culture of innovation and a willingness of hospital and health system leadership to:
- Actively participate in disruption efforts.
- Take risks and make calculated “bets” for the future.
- Put structure (and funding) behind innovation.
- Build and expand strategic partnerships with a variety of different stakeholders.
Establish a private equity or venture capital “innovation fund.”
Have a plan to respond to the threat from nontraditional competitors…
- Find innovative ways to differentiate the health system’s brand and services.
- Compete directly on convenience and access.
- Focus on clinical expertise, depth of services, and the patient-provider relationship.
…while also capitalizing on any opportunities for strategic partnerships with those organizations (e.g., joint ventures, etc.).