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Service-line strategies for US hospitals
For US hospitals battered by competition, trying to be all things to all patients is no longer a viable strategy.One way hospitals can more effectively compete with smaller, more focused competitors is to organize themselves by service line, focusing on building world-class capabilities in just a few clinical areas.Hospitals that succeed with this strategy can reap tremendous fiscal benefits while enhancing their ability to serve their communities. But as three disguised case studies show, the successful implementation of a service-line strategy is no mean feat.Choosing the right service lines to emphasize requires a superior understanding of a hospital’s economics and competitive environment. Hospitals also need to overhaul the management of both strategic and nonstrategic service lines.
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