Hospital executives contend with many basic business challenges: improving customer satisfaction, containing costs, managing complex supply chains, and attracting and retaining top-notch talent. Yet the human consequences of their work, as well as ongoing healthcare reform measures and changing delivery models, make their roles more complex.
We bring global healthcare expertise and operational and analytical skills to help executives meet these challenges. Our teams have served market-leading institutions as well as hospitals embarking on large-scale performance transformations.
Our consultants call upon a variety of proven tools and approaches:
- Benchmarking metrics reveal how hospital performance compares with direct competitors, world-class institutions, and emerging best practices.
- Dashboards and program management tools allow hospital executives to monitor and manage operations against standardized performance indicators and to better engage staff and clinicians.
- Market and institutional analytics can identify opportunities to improve cost and quality and can also assess the consequences of more sweeping actions, such as instituting payor risk-bearing arrangements or remaining independent in a world of affiliated institutions.
Examples of our work
- We helped turn around a multimillion-dollar deficit created by an underperforming specialty unit within a European national health provider. After collecting data on key measures (such as theater utilization, patient length of stay, and waiting time) and synthesizing it with observations from patients, staff, and clinicians, we helped revise pathways and redesign clinical coordinating roles that together improved both financial performance and patient satisfaction.
- We supported a successful US hospital system in a comprehensive performance transformation in anticipation of expected shifts in the market. This multiyear effort included redefining key strategic goals, improving IT and sourcing capabilities, and redesigning the organizational structure to improve team effectiveness. The effort generated $120 million in savings and implemented a care model shown to have enhanced the patient experience.
Proprietary research and assets
Our commitment to helping hospitals and other institutional providers improve their performance is reflected in the investments we have made to support and engage with providers. These include:
- McKinsey Hospital Institute. Solutions and support for hospital leaders focused on performance transparency and lasting impact, offered in Germany, the United Kingdom, and in the United States through Objective Health.
- Health International, our publication for providers which shares insights from McKinsey’s work and from industry experts
- Center for US Health System Reform. Our source on the economics of health and the implications of the Affordable Care Act, the Center undertakes original research and develops tools to help navigate in a post-reform era. more