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Five easy steps to building a strategic radiology business case

In today’s healthcare world, financial resources are limited. Your healthcare organization might be considering where to spend a capital investment, and trade offs will need to be made. Radiology is often competing with other departments for funding. That’s why a strong business case is needed to win the support of the organization’s leadership, or the so-called “c-suite”.

 

Your successful radiology business case

 

The main goal in creating a successful radiology business case is to persuade decision-makers that your project makes the most financial sense and meets the strategic objectives of the hospital or health system.

 

Here are five steps to help you get there:

 

1

Grasp the situation: Make a complete study of the process involved, the objectives you need to achieve, and the outcomes expected. Below are some guidelines to help you write your plan.

 

  • Identify the stakeholders
  • Ask colleagues for plans that have been approved by the C-suite for capital investments.
  • Determine who are the decision makers and what’s important to them.
  • Align project with strategic initiatives of the organization
  • Outline deliverables and timelines.
  • Determine the criteria you must meet (i.e., return on investment in a year).
  • Consider how current business will be effected
  • Plan to minimize disruption to the patients.
  • List the patients benefits that will result from this investment
2

Gather the data: Get the evidence you need to construct a financial model and business justification. Communicate with all the stakeholders who have the data in marketing, operations, sales, and finance.

 

Gathering data
3

Do the analysis: To prove yours is a winning business case, you must calculate the project value in terms of profit or payback. We can help you provide compelling data analysis for your case with Philips tools, resources and consulting teams.

 

Find out how we can help you demonstrate the value of your radiology business case (and its support of the overall hospital/health system strategic plan).

 

4

Make it Compelling: Your success rests on the credibility of the case you make, so tell a story that is credible, compelling, and supported by your analysis.

 

5

Connect the dots: Make sure to connect your story and anchor your findings back to the organization’s overarching strategic initiatives. If executives have announced that improving radiology or other types of related services is at the top of their goals, be sure to demonstrate how your business case supports their goals.

 

Now all you have to do is present your winning case and win the day.

Good luck!

 

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Our analytics and business solutions can help you to:

  • Estimate whether the proposed systems will be affordable and profitable
  • Compare different systems to determine which has the best return on investment
  • Shore up your business case to make sure that it is compelling and helps you to make your case to key decision-makers
  • Estimate whether the proposed systems will be affordable and profitable
  • Compare different systems to determine which has the best return on investment
  • Shore up your business case to make sure that it is compelling and helps you to make your case to key decision-makers
  • Estimate whether the proposed systems will be affordable and profitable
  • Compare different systems to determine which has the best return on investment
  • Shore up your business case to make sure that it is compelling and helps you to make your case to key decision-makers
  • Estimate whether the proposed systems will be affordable and profitable
  • Compare different systems to determine which has the best return on investment
  • Shore up your business case to make sure that it is compelling and helps you to make your case to key decision-makers

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