VICTORY CONSULTING
™Health Care Business Strategies & Economic Research
For
Employers & Providers
Welcome!
We appreciate the opportunity to introduce innovative concepts that address, Twenty First Century challenges, spawned by the ongoing, radical, evolutionary transformation of the health care market. Because these innovations are of special import to decision makers who are charged with the responsibility for protecting considerable stakeholder interest held by organizations on both the supply and demand sides of the predominantly employment-based, health care benefits market. Victory Consulting strives to keep clients informed of these market dynamics via its monthly newsletter, "The Impact Of Biotechnology, Health Care and The Life Sciences On Your Business". To subscribe click here
Our primary mission is to focus the attention of decision makers on the potential for their respective organizations to realize significant improvements in loyalty, retention, recruitment, absenteeism, presenteeism and the overall performance of employees, by investing in partnerships arrangements that focus on the development of positive interrelationships that exist between health, well being and productivity.
Victory Consulting believes that investing in programs that add measurable value to a client's human capital assets, can drive increases in the return on investment (ROI) from total compensation and serve as a competitive advantage. Victory Consulting has therefore developed a system that facilitates the ability of an organization to benefit from health, well being and productivity relationships optimization (H WB PRO TM).
The nucleus of H WB PRO TM system is the development of a "health and well being centric organizational culture" a process which generates innumerable opportunities for investment in the organization's human capital assets. The magnitude of the potential rewards from such investments justifies the formation of partnership arrangements between employers and providers.
Most importantly, Victory Consulting believes that when an H WB PRO TM system functions within a "health and well being centric organizational culture," it can effective in overcoming the: "There's no compelling reason to do business there anymore" syndrome.
You will discover that inherent in our organization's name is the
classic definition of "VICTORY," the gaining of superiority in
any struggle, or the achievement of success in any endeavor. The principle
embodied in the acronym V.I.C.T.O.R.Y - Very Important Clients Target
Organizational Results And Yield - constantly reorients us to our mission.
We are committed to going the extra mile, so that where and when possible,
our efforts to institute the H WB PRO TM system will yield
results that are over and beyond the expectations of clients.
As all business executives are aware, however, whether an organization actually experiences results over and beyond expectations is determined by the manner in which its programs, products or services are perceived in the marketplace, by current and prospective clients. Therefore, we strongly recommend that clients embrace the principle embodied in V.I.C.T.O.R.Y, and foster a health and well being centric organizational culture as core elements of their overall strategy for improving business relationships, improving ROI, attaining or maintaining a competitive advantage and increasing market share.
Victory Consulting believes that a fundamental pre-requirement for achieving and sustaining these universal business objectives is the development of a health and well-being organizational culture which facilitates the ability of an employer to perfect business relationships with employees. This feat is best accomplished when employees are perceived as internal-clients. Doing so ensures that as human capital assets, employees are continuously motivated by appropriate incentives, and are constantly inspired to increase their value to the organization, with respect to the quality and/or quantity of the products they create or services they provide to external-clients, as well as the frequency with which they submit innovative ideas.
Our business philosophy is compatible with and we are structured to deliver to the greatest benefit to clients that (a) identify with the principle embodied in V.I.C.T.O.R.Y, and are interested in learning about the process of fostering health and well being centric organizational cultures, (b) are seeking to work in partnership with organizations that adhere to the same principles.
Victory Consulting believes that the need to forge synergistic health care partnership arrangements will assume great importance in the consumer-driven health care market. Research and analysis indicates the foundation of this emerging market would indeed continue to be rooted in employment-based benefit programs, and, now, more than ever, the degree of success achieved by individual employers and providers will be inextricably linked to their ability to jointly resolve the dilemma of balancing the unquestionably high level of benefits employees receive from scientifically and technologically advanced health care products/services, against un-stainable increases in cost.
We recognize that health care benefits have become a major source of concern for most employers, because of their inability to maintain cost at sustainable levels. Predictably, they are passing complex consumption versus savings/investment issues on to employees, as they elect to offer coverage under health reimbursement accounts (HRAs) or health savings accounts (HSAs), two versions of the increasingly popular consumer-driven health plans (CDHPs).
Nevertheless, as stakeholders with significant interest in the health of employees, employers inevitably must decide where and how to strike a prudent balance. We believe that by exercising due diligence in forging synergistic partnerships with provider organizations that offer disease management, prevention, wellness and fitness programs, that address peculiar health conditions, unique to their workforce, represents a viable option for minimizing the incidence of well documented preventable costs, which account for as much as 56% private sector spending on health care.
Victory Consulting is prepared to assist employers who are confronted by the dilemma of choosing which of multiple options will offer the optimum return on investment (ROI), for example: (a) Striking the right balance between an acceptable level of investment risk in health care initiatives that target specific problems, in addition to the cost associated with the sponsorship/funding of health insurance benefits from a growing menu of alternative disease management, population health management, etc., programs available or; (b) Electing to eliminate unanticipated cost by establishing rigid limits on health care benefits expenditures, via defined contributions, coupled with the increasingly popular, high deductible consumer-driven health plans (CDHPs). Our programs are designed to prevent employers from making the costly error of choosing the latter option, without weighing the benefits of being positioned to positively influence the health of employees and the potential of realizing significant benefits from H WB PRO TM .
Victory Consulting is also aware that providers who once thrived on patient loyalty are being thrust into a highly competitive, complex marketplace, as the industry transitions from managed care domination to CDHPs. Provider success will be now contingent on the ability to develop a competitive advantage, in order to retain and/or attract information technology (IT) savvy consumer-driven patient/clients. Victory Consulting believes that a competitive advantage could be attained by provider organizations that employ knowledge management (KM) to maximize the benefits or yield that they return to patient/clients for the limited funds available in their HRAs or HSAs.
Additionally, Victory Consulting believes providers must become adept at translating the value of the health, well being and productivity benefits associated with their products/services, in terms of financial benefits to employer clients, and successfully advertising or promoting the same, to attain or maintain the business of employers who will increasingly become interested in investing in disease management, prevention, wellness and fitness programs.
Incidentally, in my book, ("The Victory Principle: An Essential Strategic Guide For Health Care Providers In Search Of A Competitive Advantage And Increased Market Share," M. L. Wavecrest Publishing,2000) I wrote extensively about the emergence of a health care market with a more viable operational structure superseding the inequities inherent in traditional employer-sponsored health care programs and the managed care juggernaut it spawned. Included in my writings are many forward looking concepts, based on my then seemingly risky prediction. Essentially, I took the risk of predicting that the fundamental logic underlying innovative tax and investment benefits associated with medical savings accounts (MSAs), would eventually be incorporated into numerous employment-based health care benefit plans, spun-off by enterprising entities, and succeed in changing the direction of the market — much like we are witnessing, now that health reimbursement accounts (HRAs) and health savings accounts (HSAs) have been approved by Congress and the Administration.
Therefore, with considerably greater confidence, I can now advise employers and health care providers that, the fact that CDHPs are linked to savings/investment programs which can be customized to suit the needs of employers and employees, validates the important role that medical savings accounts (MSAs) spin-offs are destined to play in totally restructuring the way business will be conducted in the health care market of the future.
The health care market of the future reflects the complexity and competitiveness virtually every employer now associates with doing business in a global economy. Employers are driven to seek innovative strategies which ensure their long term viability. It suggests that even providers will be compelled to embrace cutting-edge business strategies such as "Six Sigma," that have been employed successfully to improve the performance of organizations in other industries. Moreover, there will always be the need for a responsive organization culture to enable effective execution of strategies for competing in a consumer-driven market , and the achievement of targeted objectives.
While acknowledging that it is impractical to control the direction in which market forces are driving change, Victory Consulting believes that every organization possesses an infinite ability to be proactive in fostering an organizational culture that can be highly effective in responding to anticipated change.
Noel Harper, MBA.
President, Victory Consulting
Phone: 317-441- 6735 www.vcstrategies.com
Email:
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