Creating a strategic plan is essential for any healthcare leader or executive. It adds real value to the organization by creating a vision of where the organization should be in 5, 10, or even 20 years. Beyond deciding the direction for a company, the strategic plan lays out how the organization will achieve those goals.
In addition to providing direction, a strategic plan allows all employees to work together towards the same shared goal. It boosts morale, efficiency, and communication. With more than 25 years of industry experience, Bill Sugg of Valley County Health Systems shares four planning phases to create an outstanding strategic plan.
The first step is to understand the primary direction of the organization. Bill Sugg recommends fully understanding all internal and external workplace organizational structures. For hospitals, it is especially beneficial to identify areas that need a boost in performance. Next, Bill Sugg suggests performing an analysis to find out which direction the regulatory and competitive environment is moving towards.
2. Formulate Strategy
To develop a high-level strategy, begin with the end goals in mind. Bill Sugg recommends identifying the best metrics to track, which for hospitals typically include finances, operations, communication, and health care. At this stage, you will also evaluate staff and link the organizational structure to the strategy.
It’s time to take that high-level plan and put it into action! Bill Sugg suggests focusing on projects and measurable action items. A software or tracking system would be very beneficial for keeping track of goals and progress. Over time, data collected can be broken down into charts and graphics to provide a clear picture of performance.
Once the plan has been implemented, gather all the data collected from the tracking system. Bill Sugg recommends evaluating the performance of the method in its entirety. In some cases, a metric will not align with the others, and additional strategies will need to be made. Although this is the last step of the process, this phase is ongoing and never-ending. Bill Sugg believes that a leader is always working to make the organization perform at its best.
About Bill Sugg
William T. Sugg, also known as Bill Sugg, of Valley County Health Systems, has worked through almost every major crisis possible in a hospital setting, including deadly tornadoes, floods, fires, and scandals.
Under Bill Sugg’s leadership, his organization has received many awards and distinctions including #1 Hospital in the Sun Regional Heath System, Tennessee HealthCare Award, and Studer Group Award.
His leadership style is approachable, transparent, and people-centered. William T. Sugg believes in a strong teamwork culture that promotes respect, trust, commitment, and dedication to goals and values.