Phase Three: Strategy Prioritization

Phase Three incorporated sensitivity planning – what if any underlying circumstances changed – and institutional implications of various strategies. The objective of Phase Three was to understand the interconnectivity and implications of the recommended strategies on the overall institution, and begin to set the stage for final implementation planning. This phase focused on strategy prioritization, defining what strategies UMMC will implement immediately over the next year versus others that would begin implementation over the next three years. In this phase, the Steering Committee, with help from the workgroups, began to identify performance metrics for each key strategy.

The second planning retreat was held to communicate the strategic direction and strategies to the broader group of stakeholders. Unlike the first planning retreat, which was intended to elicit input and participation, the second retreat functioned more as a communication forum. The objective of the retreat was to walk the stakeholders through the recommended goals, strategies and metrics, have them understand the rationale supporting these recommendations, and discuss the relative importance of each strategy.

Financial assessment

Strategies developed as part of this strategic planning process will directly impact the economic viability of UMMC. In addition to any infrastructure and facility investments which may need to be made, UMMC will have programmatic growth, recruitment, network expansion and IT development initiatives that all impact financial performance. The following process was followed to understand financial implications:

• Created enterprise baseline pro forma financial statements;
• Determined which strategies/tactics have a significant financial implication;
• Projected revenue and expenses associated with the identified strategies and estimated any capital/operational funding requirements;
• Modeled financial implications and sensitivities;
• Integrated strategic financial outputs into the baseline enterprise pro forma.

UMMC's response to health care environment challenges

• Progress to a premier academic institution in the country
• Be a leader in transformative research
• Continue the growth of high complexity programs and leverage a network to appropriately deliver tertiary and quaternary care across the state
• Support health and wellness programs and foster partnerships and care models that emphasize "well car e"
• Ensure financial stability and begin shift from fee-for-service towards more value-based and risk-based models
• Build a workforce and leadership prepared to deliver health care differently, while ensuring superior quality, safety and service