We are now at a fork in the road which calls for bold, proactive, structured decisionmaking as never before. So what do executives need to make effective decisions? What are the best practices that will lead to success? I would boil it down to three categories—data to inform decisionmaking, a clear process and framework, and metrics to monitor the impact of the decision and the need to adjust strategy as needed.
For the next normal, I would recommend that executives of specialty health and human service provider organizations pare down to focus on the five most essential decisions—what services to close, what new services to invest in, when to add or replace a member of the executive team, if the organization needs a new name or brand, and if the organization should merge with or be acquired by another organization.
And we share insights from our conversations with leaders at six organizations to learn how they made decisions on these five issues:
- At Hope Network, Growth Focus & Continuous Business Reviews Drive Executive Decisionmaking
- At Oaks Integrated Care, M&A Is Seen As An Opportunity For Diversification & Expansion Of Service Lines
- At Ohel, The Need To Balance Mission & Margin Drives Executive Decisionmaking
- At Road To Responsibility, Market Trends & Peer Case Studies Drive Executive Decisionmaking
- At Catholic Family Center, CEO’s Corporate Background Leads To A Sustainability Focus In Executive Decisionmaking
- At OMNI Youth Services, The Need To Be Competitive Drives The Decision To Add A New Service Line
When Families Inc. switched to a new electronic health record in 2010, staff knew the EHR had data reporting capabilities far beyond the basics they were able to previously just record on paper, but the staff really had no idea how much more could be obtained. Fortunately, they were able to find a clinician on staff with a knack for data analysis.
Bad decisions, or lack of decisions, can be expensive to specialty health and human service provider organizations, especially in these times of uncertainty and market volatility. Bad decisions result not so much from lack of ability or lack of process—or even lack of information—but from defaulting into certain mindsets, biases, and routine ways of thinking.