The Benefits & Considerations Of Revenue Diversification
Executives of health and human service organizations are confronting an era of extraordinary market turbulence resulting from shifting federal policies whose effects will trickle down to the states, labor shortages, rising costs, evolving reimbursement models, and escalating expectations for digital innovation and consumer engagement. Traditional financial strategies focused on incremental growth and efficiency are proving insufficient at keeping organizations ahead of the competition or maintaining sustainability or creating the foundation for growth for the future
The new, “winning” executive mindset should be that financial sustainability requires service line diversification across the organization’s portfolio. Put another way, revenue diversification builds . . .