Last week I was contacted by the team at InterbrandHealth about a white paper they’ve published giving their perspective on the new reality for hospitals. If you’re not familiar with InterbrandHealth, it is the health & life sciences practice of the Interbrand Group, one of the world’s largest brand consultancies. Its mission is to be the leader in creating and managing brand value for health & life sciences in an increasingly complex and challenging global environment.
It is interest to review InterbrandHealth’s assessment of the new reality for hospitals – and their broad and necessarily vague prescription for addressing change (white papers by nature tend to be more thematic in nature, and not too detailed). At the heart of Interbrand’s message is that a strong brand is essential to outlasting the current volatile period within the healthcare Industry. “At InterbrandHealth we recognize this sea change as an opportunity for hospitals to develop a strong brand as well as an opportunity for the brand to bridge institutional gaps, differentiate the organization, galvanize stakeholders, attract consumers, and strengthen bottom lines.” (Source: Today’s Reality for Hospitals, InterbrandHealth) According to the report,
“The distant rumble of change that has been approaching the hospital community for years has landed with a roar on the desks of management and boards. Now, in the face of shrinking reimbursements, rising operating costs, and a rapidly changing healthcare culture and treatment system hospitals must rethink their delivery of superior and cost-effective care, if they are to be successful in the future.
This will often require a modified business structure to accommodate accelerating changes in delivery of care. Understanding this new environment and a hospital’s distinct and sustainable position within it is key to long-term success. Now more than ever, the ability to communicate positive change, make an emotional connection, and create lasting relationships is critical.”
If you click on the image below, you will be taken to the InterbrandHealth white paper. There you will have the option to download a PDF of the report or read it online.