Strategic Planning and Options
Our team encompasses a broad range of clinical and organizational expertise. Drawing on this resource, NMG provides informed recommendations that will help your organization meet its short-, mid-, and long-term strategic goals. Since 1988 we have taken part in strategic initiatives at laboratories of all sizes and complexities throughout the United States. We will apply this experience to help your organization identify and develop successful strategies for your market and its particular needs. NMG can guide and assist you in key initiatives:
- System-level Strategic Planning
- Hospital-Wide Strategic Planning
- Departmental-Specific Strategic Planning
- Financial Assessment
As an objective and knowledgeable outside party, NMG will help you set a strategic direction and priorities to achieve your goals. We will guide you through an analysis of options for key revenue-producing diagnostic services. Typically, we explore several options at a high level, followed by a detailed analysis of one or two. Options analyses may include:
- Mergers and Acquisitions – Acquisition of a laboratory and merging operations, or development of an exit strategy and sourcing potential buyers.
- Consolidation and Integration – Best models to consolidate operations across multiple sites.
- Outreach – Implementation of a new outreach program, or enhancement of existing programs, with application of best practices to your organization.
- Business Optimization – Identification and quantification of the best opportunities to improve business processes, including analytical, pre-analytical or post-analytical processes, infrastructure requirements to support business strategy, billing and revenue cycle management, and change management capability.
- Facility Design or Consolidation – Overcoming barriers to new revenue or cost reduction through analysis of design options for existing facilities and new facilities.
- Structure and Governance – Not-for-profit versus for-profit, separate company or under the hospital, provider number for billing, governance structures and functions.
- Divestiture – Know when to monetize your valuable lab asset.
Our experience in the industry enables us to share proven effective options, and to define the common characteristics of successful models. We analyze each option utilizing a balanced scorecard perspective that determines the financial, service, efficiency and workforce effects. Our approach is tailored to your laboratory.