Healthc Financ Manage. 2009 Nov; 63(11): 68-70, 72, 74
A healthcare organization’s “strategic pie” has four pieces: physician retention, brand, patient retention, and patient acquisition. When allocating strategic effort among these pieces of the pie, leading hospitals are following the lead of other industries, focusing on concepts such as churn rate, downstream value, strategic halo, promotable products, and the relative power of different metrics. A risk-reward metric offers an important means of assessing factors that would influence how much you would be willing to spend for specific purposes, such as acquiring new patients.