Understanding Corporate Services in Healthcare
In the ever-evolving landscape of the healthcare industry, organizations are constantly seeking innovative ways to streamline operations, enhance patient care, and ensure financial stability. Part of this effort includes modernizing the corporate services and back-office functions that play a crucial role in supporting the operation and front-line caregivers, allowing them to focus on patients. The scope of corporate services functions can encompass finance, human resources, IT, and procurement. By transforming corporate services into a modern delivery model where employees within these areas are as passionate about serving their internal customers as they are about patients, healthcare institutions can utilize savings to fund patient-facing innovations, foster a culture of excellence, and create an environment where employees are engaged and excited about their work.
Corporate services encompass functions such as finance and accounting, human resources, information technology, and supply chain management. Often, due to mergers, acquisitions, and growth, these functions can become siloed, duplicative, and bureaucratic. By consolidating and standardizing resources and expertise, healthcare organizations can achieve greater consistency and efficiency in these areas. However, many health systems have historically struggled to scale and improve their services to customers. Common complaints include bureaucracy, lack of agility, added layers, siloed work teams, excessive approvals and hand-offs, and confusion.
Strategies for Modernizing Corporate Services
So, what are the strategies that make a corporate services function successful? The following are just a few to keep in mind.