For outpatient technology and services companies that can master the art of successful hospital partnerships, the growth opportunities are limitless.

The growth opportunities for outpatient healthcare technology services companies have never been greater. Today’s hospitals are motivated to build partnerships and outsourcing relationships so that they can focus on their own core competencies while integrating the best ancillary services and technologies available on the market. While COVID-19 has refocused priorities in the short term, hospitals will get back on track to strengthening outpatient services in the near future.

For nearly three decades, I have focused on growing outpatient technology services businesses through partnerships with nonprofits, for-profits and academic institutions such as Rush University Medical Center and the Medical University of South Carolina. Recently I joined LLR Partners as an Executive-in-Residence to develop a physician practice management platform where physician and hospital relationships will be key to the growth strategy.

Creating these partnerships isn’t easy, but I believe outpatient service providers can build long-term win-win relationships, and avoid some of the most common hospital partnership pitfalls, by focusing on four key elements.