Introduction
As in any other industry, it is important to build a roadmap in the healthcare business well. A road map gives a direction indicating which projects are required to drive and support the growth of the business at the required level. In a short period of 18-36 months, how the business strategy is going to achieve its priorities and how the organization will adapt to support the same. The senior leadership program at Stratist is designed to endow you with such skills required for business leadership.
The best roadmaps contain the following:
- A strategy statement
- Priorities for the business in the order of execution
- Timeline of the projects
- Substantiation for each project
- The estimated cost and duration for each project
- An identified personnel is accountable for each project.
It may perhaps sound like an easy-to-make business plan, while a business roadmap is a strategic document that lists out your company’s long-term direction and the steps needed to get there. Business road map thus gives a bird’s eye view, unlike lengthy business plans which are about fine details. The company’s key objectives and broader strategies which will be used to help achieve these set objectives are clearly outlined. Roadmaps also help in keeping stakeholders and other team members always on track towards success.
Role of Departments in creating a roadmap: In the healthcare business due to the multiple departments functioning in unison with each other, a business roadmap will prevent individual teams from working like water-tight compartments by defining the business’ future and how each department will contribute to attaining the future growth. While a roadmap as a tool is most commonly used to showcase the growth trajectory, it can also be used for various other strategic projects, like change management, department-wise projects, etc.
The roadmap has three primary functions:
- Prioritization: The roadmap will serve as a reference point when discussing with all concerned, changing priorities, etc. It will help everyone understand how to balance priorities and visualize trade-offs to be on the same page.
- Planning: Plan time required to mobilize resources and costs for capital needs. A survey shows that only 11% of managers say they have the resources they need to pursue the company’s strategic objectives. When this vast majority of Managers are silent, the roadmap will help expect requirement and capital costs ahead of time and make it possible to incorporate key projects into each department’s day-to-day plans.
- Accountability: Create accountability for execution at individual and departmental levels. It will help the Promoter clearly understand how they should balance the existing roadmap initiatives with new requests and issues as and when they crop up. It will keep people on track when other business needs arise or shift the track when the required milestone is achieved or changed. Active management of the roadmap will result in better executive alignment and stakeholder buy-in before projects even begin, and give those accountable a smoother road to success.
Roadmaps are prepared based on what is currently known. As you start implementing it and learn more about how to best meet the user, customer, and business needs, the roadmap is likely to change. It thus helps you maximise the value and offer the best possible service —instead of following a plan blindfolded that might be outdated. You should therefore review and adapt the roadmap regularly.
Conclusion
In conclusion, a road map for the healthcare business as in any other industry is focused effort in ROI. Short-term & long-term road maps will show if there are any deviations from the set standards that may affect the outcome. Various departments function such that they don’t function in isolation. A sense of accountability is in every individual involved in the project for better execution. Healthcare roadmaps depend on factors that are within the reach and beyond but give the right direction to mobilize the right resources. Stratist, best mentors have remarkable expertise in the mentoring healthcare business. Our initiatives like “spark” to identify challenges, “ignite” strategize solutions & “empower” to be a partner, are signature products to nurture maiden entrepreneurs.
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