Hedging Your Bets

Most health and human service executive teams have revenue diversification as one of their strategic goals—looking for a financial cushion in the event that a key service line contract is terminated or rates are reduced (see;Diversify Or Die;and;The Ripple Effect). It is a common business strategy, but the recent federal policy shifts, and the resulting market chaos, have made it more pressing (see;Is Your Team Crisis Ready?).

There are two diversification questions for executive teams to answer—what services to invest in (for what consumers, service model, geography, payer, etc.) and . . .