September 26, 2003

Strategic planning spotlight:
New Business Opportunities Task Force

Since the MGH embarked on an intensive strategic planning effort several months ago to determine the future direction of its clinical programs, members of seven task forces have been meeting, planning and preparing to make preliminary recommendations to the Strategic Planning Steering Committee. Hotline will be highlighting the work of some of these task forces during the upcoming weeks.

The main goal of the New Business Opportunity Task Force is to find new ways for the hospital to deliver additional services to the MGH community and beyond that also will bring in added revenue. The task force - which is chaired by James Thrall, MD, chief of MGH Radiology - is charged with identifying potential new nonclinical lines of business.

"One of our main goals is to look at all services that can potentially benefit patients, families and visitors as well as our own employees and the general public," says Thrall. "What can we do to help people in their daily lives? For example, can we offer employees a special place to buy uniforms and other supplies needed to do their jobs? Can we make day passes to the health club available for family members who are visiting patients? In addition to providing the best medical care, what other quality services can we provide?"

Three subcommittees of the task force have been formed to focus on different areas - technology transfer and intellectual property; retail, sales and services; and publishing, education, multimedia and consulting opportunities.

The main goal of the technology transfer and intellectual property group is to expand the financial return to the hospital through such means as licensing its inventions and enhancing royalty revenue. According to Thrall, the MGH is one of the top nonprofit institutions in the country in procuring patents on research. This subcommittee will identify ways to increase return through licensing opportunities, patent filings and possibly by forming startup companies.

The subcommittee on retail, sales and services is focusing on ways to enhance already-established retail areas of the hospital, as well as developing new retail concepts. With successful retail efforts such as the MGH General Store and Flower Shop, Images Hair Salon, Nutrition and Food Services and The Clubs at Charles River Park - the committee is considering making some of these services more visible to patients and visitors. For example, having pushcarts in the Main Corridor that sell flowers, balloons and other items that also are available in the General Store may increase the store's visibility and accessibility. A new retail opportunity the committee is exploring is the creation of a full-service MGH spa that offers services such as massages and facials for patients, families and visitors.

The subcommittee on publishing, education, multimedia and consulting is researching opportunities to offer MGH expertise in various educational forms outside of the hospital community. For example, the hospital could offer information about common diseases and health topics on multimedia CDs or other electronic formats. Another possible opportunity would be to offer workplace wellness fairs and programs to local businesses.

"These subcommittees have generated a lot of great ideas so far, but we also would love to get more ideas from the MGH community - especially in the retail and sales area," says Thrall. Any employee is welcome to submit ideas by visiting http://is.partners.org/mghstrategicplan or by sending written ideas through interoffice mail to the New Business Opportunities Task Force, Bulfinch 240.