Becker's Hospital Review

21 EXECUTIVE BRIEFING 2 EXECUTIVE BRIEFING Working together, technology and process evolution help ensure that patients receive the right care in the right place at the right time. Ms. Taylor underscored the need for coordination among operations, clinical care teams and technologists as organizations stand up technology solutions. This ensures that digital solutions fit the requirements of the business and make the lives of users easier, rather than harder "One of the most common pitfalls is viewing technology projects as one more initiative to implement and check off the digital roadmap. But it costs a lot more on the back end when projects don't meet business needs resulting in considerable rework," Ms. Taylor said. When strong coordination exists among all stakeholder groups during implementations, optimization efforts and ongoing improvement projects, digital modernization efforts generate better, faster ROI. Who delivers the care? In the future, care will still be provided by people, but they will be empowered and supported by technologies that make them more effective and efficient. By reimagining workflows and eliminating routine work with AI and automation, it's possible to transform the employee experience, address workforce shortages and turn burnout into engagement. Healthcare has been slow to adopt new technologies, but in recent years, the sector has flipped the script. According to a Menlo Ventures report, healthcare organizations are adopting AI at more than double the rate of other industries. Health leaders involved in provider strategy have shifted their thinking on AI over the past 18 months. Once content to be fast followers, many now are actively embracing the technology, adopting everything from ambient listening tools to AI-enabled revenue cycle optimization. "It shows that the ROI of AI in healthcare is increasing at a rapid pace leading to broad adoption," Ms. Taylor said. "We are now also seeing increased AI adoption to support clinical decision-making." By integrating AI into daily routines, clinicians can operate at the top of their licenses, achieving a more sustainable work-life balance, expanding time at the bedside, and reaching more patients. AI can also help providers strengthen relationships with patients and their caregivers while maintaining transparency and trust. Organizations must be clear about how AI will augment roles for employees to minimize resistance among care teams. Best practices include getting people involved early, providing adequate training and explaining how AI will enable clinicians to work more effectively and spend more time with patients. A future of new collaborators Long-term success will depend not only on how care is delivered, but on how organizations create value through partnerships and strategic investments. Partnerships with pharmaceutical and medtech companies, new market entrants, tech companies, and even competitors, allow providers to focus on and invest in core strengths, while gaining access to new capabilities. "Providers will partner in novel ways to provide care across their communities," Ms. Taylor said. Partnership arrangements can expand access to care, increase capacity, enhance specialty capabilities, and strengthen financial sustainability. Through partnerships, providers can offer more holistic, preventive and home-based care for patients and the community. Providers can also benefit by exploring partnerships in non-clinical functions outside of their core capabilities. Such collaborations can help build economies of scale and enable access to more advanced technology than providers could achieve on their own. In addition to partnerships, strategic investments can also create significant value. However, not every opportunity warrants pursuit. As deal markets heat up, organizations risk falling prey to the "thrill of the buy." Hospitals and health systems must remain anchored to their vision and to what they ultimately want to be known for. "The most successful providers bring a discerning eye to potential investments and ask whether an opportunity aligns with their growth strategy or fills core capability gaps," Ms. Taylor said. "This discipline leads to better outcomes as organizations integrate new assets into their portfolios." At the same time, leaders cannot afford to be timid. The days of incremental, marginal change are over. Once organizations determine which service lines, sites of care and capabilities they want to build, they must be prepared to make bold moves. By being bold, they create value by enabling differentiation, improving agility and sustaining long-term revenue growth. The right move will differ based on an organization's type, market dynamics and existing portfolio. "Are you an academic medical center focused on optimizing for the full tripartite mission, a standalone hospital defining its role in the community, a multi-state health system optimizing for strong enterprise functions or an integrated delivery network laser focused on tackling reduced cost of care? Those differences will drive decision-making and what's right for an organization," Ms. Taylor said. The forces reshaping healthcare are already in motion. Providers cannot afford to wait. Those that move decisively now will be best positioned for 2035 and beyond. Imperative Description Understand four forces driving change Economic pressure, technological innovation, medical advances and consumerism Define what care to deliver Don't be everything to everyone. Decide and focus on select service lines for your community Determine where care is delivered Build a future footprint that combines inpatient low-acuity outpatient sites — ACSs, home care, virtual care, etc. Reengineer how care is delivered treamline processes and make care more data-driven with cloud and other digital technologies Optimize who delivers care Implement technologies like AI to make clinicians more efficient and remove administrative burden Think and act big Create value by pursuing partnerships, exploring prudent strategic investments and making big bets that are aligned with the vision Figure 1: Imperatives to Thrive in 2035

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