Insights Magazine Volume IX - Page 8

Strategic Planning How to Get Measurable Results Julie Eckstein Most people have been engaged in some sort of strategic planning in their organization, whether it is brainstorming a new initiative or formally outlining an organizational plan, but critics, particularly internal critics, often question the value of the process. Three Examples of Measurable Results Within the first year of performing a comprehensive organizational assessment and plan, a specialty provider organization experienced a doubling of its priority service line, a 25 percent increase in upfront patient responsibility revenue collections and a 30 percent decrease in bad debt. Similarly, a nonprofit organization conducted strategic planning with its board and staff that transitioned an ineffective, unengaged board into a refreshed, high- performing one. The organization ended 6 two programs that had poor outcomes and poor financial performance and transferred the resources into new programs that a market study indicated were unmet community needs and areas in which funders were willing to invest. Recently, a family-owned company went through a leadership transition to other family members. The organization had not undergone formal strategic planning for many years, if ever. They knew their revenue was very stagnant and had ideas of what they could do to improve — from manufacturing process changes to introducing new products — but did not know how to get started with a strategic planning process. Now underway, they have captured their competitive landscape, identified market opportunities and state- of-the-art manufacturing processes, as well as the necessary skillsets for current