Healthcare Mega-Trends in 2013

The health care industry today faces uncertainty. Uncertainty created by factors such as government regulations, tighter margins, new information technology, and new consumer behavior. Other factors changing the landscape are seven mega-trends. Mega-trends that the industry should look around the corner to observe and consider as they make plans to adapt to change and adapt to the environment. Many companies in healthcare have to determine how they are going to address each of these seven mega-trends.

Paul Keckley, Executive Director of the Deloitte Center for Health Solutions describes mega-trends that will influence the healthcare industry this year.

Source:  Deloitte Center for Health Solutions

Mega-Trends recap: 

1. Demanding demographics
2. Strategic globalization
3. Unconstrained connectivity
4. Constrained resources
5. Accelerated consolidation
6. Big data
7. Consumer discontent    

>>Read more

PE Firms Sweet on Hospital Deals

While private equity firms have not engaged much in the margin-thin hospital market, things may be changing.

As noted by Ron Shinkman in a recent Fierce Health Finance article, PE firm interest may be on the rise because “the healthcare industry is exiting a period of business decline, rapidly growing and enjoying new value."

According to the article, the key to future connections will be a firm’s assessment of the hospital’s C-level executives.  Since PE firms will likely be more hands-off than in other industries, they will want the right management in place.  >>Read more

Make it Harder for Patients to Leave...

Roger Levin, DDS of The Levin Group reminds practice owners that patient loyalty isn’t what it used to be...Consider a few of his customer service tips.

BE  PROACTIVE

Focus on attracting new patients, enhancing customer service, and conducting patient surveys to gauge patient satisfaction. Your practice health depends on building your patient base and increasing patient retention.

DON'T  TAKE  PATIENTS  FOR  GRANTED
Although some patients will stay...others will move to another practice that offers...Lower Fees, Better Location, Services you don't offer or, didn't tell them about.  Be sure to find out why patients “jump ship”, and correct the issue.

Source:  The Levin Group

Lessons from Quentin Tarantino Movies

A Band Apart Production

It’s Academy Awards season...and once again a Quentin Tarantino movie is nominated for the "Best Picture" gold statue.  This year, it’s Django Unchained.  While Tarantino’s movies are typically successful at the box office, two academics point out how the movies also successfully illustrate several business lessons.

Consider these concepts outlined by Robert J. Thompson, professor of Television and Popular Culture at Syracuse University, and Todd Dewett, a management professor at Wright State University. >>Read more:  

1. Find the right training to get to the top of your game. Good teacher, motivated staff and opportunity to use new skills are key.
2. Assemble a strong team 
- that works well together.
3. Choose quality over quantity - avoid change for change’s sake.
4. Surround yourself with top talent - who are dependable and offer honest feedback.

Source:  Entrepreneur.com

H.I.G.'s CIS adds Access Family Services

Community Intervention Services (CIS) announced the acquisition of Access Family Services (Access) to the H.I.G. Growth Partners’ behavioral health platform in January, 2013. It represents CIS’ second acquisition.  Access is a leading provider of community-based outpatient behavioral health services in 6 North Carolina markets.     The Charlotte-based organization employs a clinical staff of over 100 clinical therapists, qualified behavioral health professionals and developmental educators.  >>Read more

South Bay Mental Health, based in Brockton, MA, was the first CIS acquisition in April, 2012.