Service Line Diversification: The 5-Step Process For Evaluating New Service Line Opportunities 

Finding the right growth strategy is inextricably linked to an organization’s financial sustainability and requires nimble (an on-going) service line portfolio management by the executive team; otherwise, any given service line portfolio will likely decline in revenue and margins over time. The likely revenue decline and loss in profitability is due to changing consumer and payer preferences, new competitors changing the margins on existing services, and evolving technologies changing best practice delivery methods. Specialty health care organization executives need the ability to decide which services to add, which to eliminate, which to change, and which to grow. . . .