How can the practice of co-sourcing create competitive advantages for Residential Providers? How can we be innovative and achieve improvements in our business & clinical outcomes? Within this session, we will explore how an increasing amount of Providers are awakening to this business relationship model which is allowing them to leverage capabilities from their Partners whilst consolidating non-core activities.
Today, Providers are looking for the competitive edge. Whether improving the quality of food services through to enhancing the customer experience program, Providers are all on a journey to be become a provider of choice. By today’s measures, this translates into having a strong demand for services which is aligned to consumer preferences, an innovative model of care that can withstand reform challenges, and strong EBIT (Earnings Before Interest & Taxes) performance that is underpinned by occupancy results.
Co-sourcing is an approach through which organisations seek to mitigate risks and generate new value that can be converted into sustainable competitive advantages. From the perspective of a Provider, it involves the process of reallocating certain business activities to a separate Partner to perform. In return, the Partner ensures that the quality of the completed activity is improved, the cost to perform the outcome is reduced, and the risks associated with the activity is mitigated through the deep expertise of performing that ... Read More