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What is Strategy?Strategy is one of those words that means many different things for many different people. In healthcare organizations, strategy is used to define the financial strategies, operational strategies, the IT strategy, the north or west strategic areas, a strategic alliance, a strategy for growth, a strategic plan … and many, many different uses.For Strategy Advantage, when we use the word strategy, we mean “differentiation” and “uniqueness that achieves advantage for your company.” Specifically, your strategy should be very clear about:How you are unique and distinctive from others.How you will become even relevant and valuable in the constantly changing times of healthcare and specific to the customers you serve (i.e. payers, your community, consumers, your patients).How you will gain further advantage relative to other hospitals/ health systems/ competitors in your primary, secondary, and tertiary market areas.How you will build and sustain that advantage and superior high performance over timeThe pathway you choose and the roadmap you create for getting from today (your current business performance) to there (your future vision and set of goals).The focused set of strategic decisions and specific actions that, when executed well, will enable your organization to improve volume, service/ value, financial goals, and market/ brand position.For the more than 20 years that Strategy Advantage has been a healthcare strategic planning company, we have referred to only one source as we have defined and applied strategy in our work for clients. We recommend Harvard Business Review's "What is Strategy?” by Michael E. Porter (November-December 1996), . ................
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