Case Study

Healthcare GPO

 

 

 

 

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Portfolio Management System

Challenge

Create an executive-level portfolio management solution for aligning project investments of a rapidly growing healthcare GPO organization to the corporate strategy. The goal was to create a system that ensured that projects the executive team funded and staffed promised the highest yield and were the most important initiatives for the firm.

Approach

We took a three-pronged approach: review and assimilate the enterprise’s strategic plan into a project investment screening and selection framework; assess the existing project management performance management processes, methods and tools; and interview business stakeholders to gather their viewpoints on prospective project evaluation criteria and methods for prioritization. The information collected was echoed back to the executive team to establish a common understanding of:

  • Current project selection and prioritization criteria that were common across the enterprise.
  • Project and portfolio management effectiveness.
  • Existing project initiation processes, tools and standards in place.
  • Gaps or inconsistencies in project investment vetting and decision-making.

Solution

OptimizeHealth constructed a project evaluation, selection and prioritization model based upon the firm’s strategic imperatives and existing protocols. We then established a centralized repository for storing all project activity: new project requests, in-flight engagements and archived projects. Finally, we enhanced existing project management tools to provide necessary project performance data and dashboard reporting for ongoing decision-making and prioritization.

Results

  • Eliminated redundant, low-value and conflicting projects in the funnel, reducing the overall project demand by 45%, which freed resources to increase traction on high-yield efforts.
  • Reaped a bottom-line savings of over 2.5% from the project portfolio the first year and each year thereafter the OptimizeHealth model and practices were applied.

EMR Selection and Implementation

Long Term Care Industry

Integration

Health Insurance Industry

Portfolio Management

Healthcare GPO

Project Delivery Improvement

Healthcare Industry

PMO Assessment Roadmap

Healthcare Industry

IT Strategy

Long-term Care Industry

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