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MARKET
ASSESSMENT
To effectively plan
for the future, it is essential to understand the key elements of the
current environment as well as the factors that may influence the future
marketplace. Accordingly, when Partners assesses a market, we focus on
key demographic trends within a defined geographic service area. This
includes historical, projected, and age/sex specific trends; source of
patient trends; market share trends; use rate trends (inpatient and
outpatient services). Specifically, the key areas of emphasis
include (dependent on availability of data):
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Geographic source of patient data
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Population trends by service area and
age cohort
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Historical volume trends (i.e.,
inpatient, outpatient, and ancillary)
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Market share movements by geography and
service line
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In- and out-migration patterns
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Managed care trends
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Medical staff profile and projected
physician demand analyses
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Discharges and patient days per 1,000
population rates
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Competition analysis
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Projected service volumes.
When completed, the
assessment will answer key strategic questions, among which typically
include:
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Will more or fewer people reside in the
service area in the future?
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If more, where will they be located and
how can our client provide the services and facilities to make
healthcare delivery convenient, and our client the provider of choice?
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If fewer, what impact will a declining
population have on existing services and facilities?
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Will changing demographics and
utilization rates materially impact the type and amount of services
required for the future?
Finally, upon
completion of the assessment, a series of potential strategic directions
will be developed for consideration that may include: relationships
with primary and specialty care physicians, collaborative relationships
with other hospitals, the client’s role in the continuum of care,
ambulatory strategies, and improved operating and financial performance.
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952-548-3377
