Transform the operating model
Societies also need to transform their operating models to be more efficient and adaptable to change. With healthcare providers spending less, societies will feel the impacts. To remain competitive, societies will need to assess their capability model, organizational agility, and internal processes.
Societies should understand the capabilities required to develop new products and sustain traditional revenue streams. The decision to insource, outsource, or partner will vary on each organization’s strategic goals, costs, and existing infrastructure.
Societies have historically relied on a few key products for revenue with little need for organizational agility. However, as societies add products, they will need to assess whether their support processes (e.g. finance, governance) can be scaled and adapted to changing service offerings. For example, a traditional Society with a membership driven revenue model will need to focus on developing B2B marketing and sales capability to deliver new training products targeted at physician groups. Similarly, back office functions like Finance and Accounts Receivable need to be redesigned to work in a B2B environment.
To drive efficiency and scalability, societies should review their internal back office processes. Societies that standardize their processes avoid data silos and inconsistencies that make it difficult to manage operations. Adoption of automation and technology, such as CRM systems to drive sales growth or auto-fill in membership forms, can help societies use resources efficiently and effectively.