by Stephen Tweed
Dan in Phoenix is doing it successfully. Brianna in Michigan is having terrific success with it. Dave in Denver is growing his business with it.
What is “IT”? It is a strategy to create competitive advantage by developing and nurturing ongoing strategic alliances with other health care organizations.
For the last several issues of Private Duty Today, we’ve been talking about strategies to gain and sustain competitive advantage in your local marketplace. We’ve talked about creating Specialized Program Packaging and Promotion. We’ve talked about Exceptional Customer Experiences. Later this month, my son Jason will be leading a webinar of this topic called “Exceptional Home Care from the Consumer Perspective.” You won’t want to miss that program.
Today, I want to explore the strategy of developing relationships with organizations that can make referrals to your home care business. For this to work, you need to offer something of value to them. What is it that you can bring to the party?
My friend and colleague, Dr. Tray Dunaway talks about getting the attention of Doctors by helping to …
- make ’em money
- save ’em time
- reduce their stress
- increase their level of recognition
These same four principles apply to building strategic alliances with other health care organizations. How can you make ’em more money, save ’em time, reduce their stress, or increase their recognition.
One example we have seen in a number of locations is to develop a preferred provider relationship with a senior living community. Having just one or two or three home care companies on the property reduces the confusion that occurs when there are many companies sending in caregivers. Keeping residents in their homes instead of leaking out the back door to higher levels of care helps the facility stay full. We’ve seen situations where senior living communities have a high number of unfilled units because people are not moving in. The real estate market is such that they can’t sell their homes, and they need to sell in order to have the money to pay the rent. Yet, the back door is open and residents are moving out to higher levels of care; assisted living or skilled care.
By developing a preferred provider arrangement and providing high quality home care in the independent living facility, you are able to keep residents there longer, and help the facility keep its units full. We have met a number of private duty owners across the country who have built a significant portion of their business by developing these relationships.
You too can create competitive advantage by using “C-Suite Selling” to develop personal relationships with the owners and administrators of these facilities. Then negotiate an ongoing PPA that benefits both of you.
We’ll have more details on this in future programs from The Academy for Private Duty Home Care. Stay tuned to Private Duty Today for details.