We are re-sharing the most recent update on our Business Acumen Center, last shared in our Weekly Update, as a courtesy to our members.
As written by Donna Martin, ANCOR’s Director of State Partnerships and Special Projects:
Today’s Learning Collaborative team profile is focusing on the Business Development Learning Collaborative. This Collaborative has teams from three states and is comprised of over sixty CBOs all working to develop strategic plans for their organizations’ stability and sustainability. We will take a look at Altair ACO from the great state of Minnesota!
Altair is an Accountable Care Organization (ACO) formed by twelve individual CBOs serving over 12,000 Minnesotans with intellectual and developmental disabilities. These organizations came together five years ago to develop a provider-led entity for the purpose of delivering wrap around healthcare management and long-term supports and services (LTSS). They joined the Business Acumen project to further their business-savvy around operating in an integrated healthcare environment within the framework of value-based purchasing.
As the team works through the first two steps of the Business Acumen Tool kit, they have completed an environmental scan and SWOT analysis and are now using the tools provided in “Step 2: Plan” to develop their strategic and operational plans. The interesting feedback they have shared as part of their learning is that the initial process needs to be slow and deliberate with all partners collaborating for the best possible outcomes. They have also learned that the business environment they work in is rapidly changing and they must revisit steps in the planning process regularly to adjust and pivot as things change. This is a dynamic example of the need for CBOs strategic plans to be a living document, not something that is completed at a retreat then shelved and dusted off once or twice a year. Healthcare and LTSS systems are changing and evolving with great speed and service organizations must have their eye on the ball if they are to remain competitive in this new environment.
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