Increase Admissions: Competitive Analysis

Well we have done a good job of looking at who we are and what we do best. A great first step. We looked at all the areas of the SWOT analysis. (Strengths, Weaknesses, Opportunities and Threats) We are now more intimately aware and have a better framework on what and who we are. We may now even have a better idea of where we want to go. So before we head out all jazzed up, and ready to take the hill, we need to know something else. We need to know the terrain, we need to know our competition.

Because we dont operate in a vacume, we have to understand the external environment we are working in. We must be intimately aware of our competition. Lets look at two real life examples of why this is so important, and how you can exploit YOUR competitive advantages.

1) Service delivery- I remember working for a start up hospice agency. Being part of a start up is VERY challenging, and extremely rewarding. After getting to know the competition more intimately through primary and secondary research and information, I found out that the dominant hospice could not get out to see the admission (dying patient) within 24 hrs and wouldnt see new admissions on the weekends. Can you believe that?! From a clinical perspective this was horrific, however from a competitive positioning perspective it helped us to gradually gain market share and increase admission. We improved hospice care in that area, and that was a good thing.

Now of course this was the key selling point on each and every sales call. We take new admissions withing 3hrs! As many of you know, sometimes the referralls in hospice happen so late that the referral had died before our nurse could get there. This was part of the education that needed to happen with our referral sources, but thats a topic and challenge for another time. But can you imagine how many times that happened through the years with that other hospice?!

Compete to your strenghts in service delivery.

2) Pricing/Insurances- Competing on value is usually more successful than competing strictly on price however you need to know what your competitors private pay rates are (if this applies to you) and or what insurances they take. Remember that this is fluid. Your competitor who only saw 24hr cases last year, (private duty) now does two hour minimums.

Maybe your large corporate giant homecare only takes Medicare. Could this be an opportunity to shine? You bet it is. I remember competing against one of those corporate giants. The key message was, they only take Medicare? I can help you Mrs Referral source with most insurances, Medicare and Medicaid.

Its always about WIFM's (whats in it for me) You can make the referrall sources job easier. It translates into... just call me as we take most insurances. I can take these patients off your plate and provide quality care. You dont have to worry who takes what insurance. One stop shop. That was a nice position, you might not have that same luxury.

So hardwire a competitive analysis semiannually into yourr startegic plan,
and compete to your strengths in price/insurances and or value proposition.

You can look at a long list of variables when you do a competitive analysis. The key is proper positioning after the research.

Heres to proper positioning and watching your competitors closely. Most importantly here to increased admissions.

Steve Kiley
Senior Care Partnership
www.seniorcaremall.com
(508) 868-2801

Increase Admissions: Watch Out For The Threats

Todays post will speak to the scary things, (appropriate around this time of year with Halloween and all) that may be lurking in your market. We call them threats. Threats should be looked at in the external environment that you work in. We looked at weaknesses that we should think of as internal, threats are the external ghosts and goblins. (Sorry)

Lets look at 3 practical examples from experience, maybe you have had the same types of threats in your market?

1) New Competitor- The giant in your industry has just landed in your back yard. Gentiva or Amedisys if you are homecare or Home Instead or Right at Home if you are private duty. Or maybe worse, there is rumor that they are coming. Next year? The year after? When? New competitors large and small can pop up with or without notice. You need to be prepared, do your homework (competitive analysis) pick your spots and work your plan.

2) The Economy slides- Private duty has been hit hard the last few years with the economic downturn no doubt. Every geriatric care manager, homecare agency, long term care facility we have all felt the pinch. What to do? Do things better and more efficiently, dont miss ANY opportunities, and maybe add some new programs to meet new consumer demands and needs? You cant stop. Now is the time to be creative, and persistent.

3) Change of government regulations- Reimbursement changes, regulatory changes, licensing changes, the list is long and BOO can be scary. (Sorry again last one)
I have seen industries change, do a comple 360 in 2 years because of governmental changes. Example PPS change in the rehab setting changed long term care in the nursing home around quick. We need to be tapped into these changes, and proactively prepare vs getting blind sided when the change occurs.

Well there never is a simple solution too dealing with threats. Guess if there was, they wouldnt be threats! Anyway, if nothing else I hope this gets us thinking about these nasty stress producing things. If we stay on top of them, prepare for them, and take action appropriately, they will be greatly minimized.

Heres to increasing admissions.

Regards,
Steve
Senior Care Partnership Program
www.seniorcaremall.com

Increase Admissions, Opportunities, Maximize Them

SWOT Analysis Lets now look at Opportunities

To increase admissions in your market is as you know a challenge. But its less of a challenge when you play to your strengths and your competitions weaknesses. Lets look at a few real life examples. I have been marketing and selling in both positions of strength and weakness.

1) Discipline specific advantages- You have a SLP (Speech Therapist), sell that therapist and the problems she/he can solve. I have worked for homecare agencies that did not have Speech. Who would you refer your stroke patient with swallowing difficulties to? No brainer. Promote how your clinical/non clinical staff can solve these specific concerns more effectively than XYZ Competitor. Educate the referral source about these disciplines because your competitor may try to promote OT (Occupational Therapy) OT in that particular stroke patient. SLP is really the go to discipline for swalloing issues.

2) Cultural needs- Every city and sometimes town has ethnic and culturally sensitive needs. Your staff may consist of someone who speaks a certain language or is from a specific ethnic group. One town in FallRiver MA is comprised of a large Portuguese speaking community. One competitor did not have anyone who spoke Portuguese. The other agency Portuguese speaking staff. Not only did the second agency do a better job of connecting with the patient population, but they also did a better job of connecting with the Portuguese staff members/referral sources.

3) Special Training- Is there an underserved population? Should your nurse get wound care certified? Should your aides get special training for dealing with dementia patients? Can you serve exceptionally, an underserved population? What niche could you serve? How could you prove your superior outcomes? Special training in a particular area just may be a great opportunity for you, your staff, and the community.

There are plent of other examples however the bottom line is find your opportunity in your market, and promote it heavy.

Heres to increased referrals.

Regards,

Steve
www.seniorcaremall.com

Weaknesses..We All Got Em

As important as understanding our strenghts is to growing your healthcare organization, understanding your weaknesses is just as critical. These are the basics of growing referrals, admissions, and census. This is the stretching out before running. The aiming before firing. (throw in your favorite cliche here) Lets look at three reasons why understanding your weaknesses is so important to increasing admissions, referralls and census.

1)Creating Bad Experiences For Referral Sources & Consumers. Damage control and negative experiences are challenging to overcome in this competitive environment! Do you do woundcare? Can you take weekend referrals? Do you take all insurances? Do you have a Speech Therapist? Do you have experience with Alzheimers patients? If yes you better nail it, and provide the services and quality care you say you can provide. Whether you are providing clinical or non clinical care, knowing who you are and what you do exceptionally well is key. Otherwise, you may be moving backwards instead of progressing forward in the relationship with the referral sources and your patients/clients.

2)Clear Expectations. You are a problem solver as you know, for caregivers, seniors, social workers, wellness directors, case managers etc. They rely on you to SOLVE THEIR PROBLEMS. Thats the key, make my job easy please. WIFM (Whats in it for me) You need to be clear and descisive about the things you can and can not do.

3)Competitive Advantage. One of my objectives often through the years while in healthcare sales was to be in the "right place at the right time." If I wasnt in a leader position, or didnt have the market share in a particular market, I would never totally give up. I would rank according to potential, and would always make some calls at these referral locations because it was only a matter of time before someone messed up. Often it was an operational issue and the proverbial ball was dropped. I was always happy to help pick up the ball and SOLVE THEIR PROBLEMS, and assist where the competition failed that day. (It happens to us all)

In summary we need to know what we do well, and not so well, and take action based on our strengths. Focus on your strengths, and minimize, be upfront about, and at times work to overcome, some of those weaknesses.

Heres to SOLID and SUSTAINABLE growth.

Your Guide & Partner

Steve

Your Healthcare Agencies/Facilities Strenghts

In order to Increase admissions lets continue with the SWOT analysis of you agency or long term care facility. Lets look at the key concepts and critical aspects of the Strenghts section. What areas should you look at? How do you frame the first step in the SWOT? What will the time invested provide for you and your healthcare organization?

Strenghts should be Internal- When you look at strenghts stay focused on your internal resources/assets. Do you have programs that are different or better than your competitors? Woundcare...Certified Wound Care Nurses? Psych program, with Psych nurses? Good or great outcomes that show the quality of care being provided? Spanish, Russian, French or other foreign speaking staff? Accredidations? Years of experience in industry? Technologies? Other resources that are potential unique selling propositions, and/or competitive advantages.

Take your time here and really exhaust this list with a brainstorming session of your own, or with your team if possible. The synergy with team can take you into places within the organization that you may not have thought of. The perspective from various view points alone is worth the time.

Heres to Increased Admissions

Always A Good First Step

To generate more admissions it is very important to understand who you are, and what you do. It has been amazing to me through the years to see healthcare organizations that try to either be all things to all people, or try to do the things that they werent built for. Either way these approaches can hurt you in the short or long term. It is best to decide early and then be consistent on what you do BETTER than anyone else, and consistently do THAT thing or THINGS better than ANYONE else.

A tool to help you and guide you in this critical process is a SWOT analysis. (Strengths, Weaknesses, Opportunities, and Threats) A SWOT analysis will not change your admissions tommorrow, but a SWOT analysis will help you define what and who your healthcare organization really is. This will be a very important first step in a keener more focused sales/marketing strategy.

Heres to good Sales/Marketing.

Hello Healthcare Marketers

I am looking forward to providing marketing content that will be a resource to healthcare organizations. It will take me a few weeks to get ramped up but the information here will be practical and pertinent. The topics will be specific to healthcare marketing and sales and will draw upon the bloggers 20 years of experience.

So stay tuned this week for a few examples of what will be provided moving forward. I look forward to sharing and learning from many of you as well. The great thing about this industry (healthcare) is that it is always changing. Even though the blogger has much experience in the field, I have been humbled on more than a few occasions during the past 20 years. We are always learning, improving and executing. The learning is always a crucial part of the process.

Hope you join me frequently here. Heres to learning together, and growing your healthcare organization.