It has been a long three months since the start of the pandemic crisis in the U.S. The health crisis still continues—and the economic crisis is just starting.
As a leader, the daily news feed is a troubling distraction on the march to recovery. Well-known retailers—J.C.Penney, General Nutrition, McDonald’s, Starbucks—have a steady stream of notices of permanent store closures. And news outlets from every town and city announce the permanent closure of small businesses whose names are not “well known” but that represent the heart of many communities.
And the news from the health and human service field is the same. Each day, I get notices of another organization or program that is closing—nursing homes, maternity centers, and psychiatric inpatient units were on the list this week. We’ve covered every survey of health and human service organization executives on the financial impact of the crisis (see Fewer Appointments = Less Revenue & Less Cash, The Sound Of Closing Doors, The Big Questions For Leading Through This Crisis Period, and 68% Of I/DD Provider Organizations Closed One Or More Service Lines Due To The COVID-19 Pandemic) to get a sense of the trend on the ground. The most recent, a new National Council For Behavioral Health survey of behavioral health provider organizations, reported that 44% could only remain open for six months without financial relief (see The Financial Viability Of The Nation’s Mental Health And Addiction Treatment Organizations Is In Jeopardy).
In this chaotic time, the role of the leader is to look this adversity in the face and find a path to recovery for their organization—with a focus on finding a financially sustainable model for continuing its mission. It is daunting. As the pandemic crisis goes into the second quarter, executive teams need to shift their attention to “what’s next.”
Over the past three months, our team has focused on bringing OPEN MINDS Circle members the best information, management best practice models, and real-world success stories on the five key elements for recovery in our Executive Blueprint For Crisis Recovery. I launched this series on April 7 in my briefing, The OPEN MINDS Executive Blueprint For Crisis Management: Building Resiliency In The Face Of Adversity, which provides a framework for this planning process. Since then our team of experts has done a deep dive into each of the key elements.
We discussed how to approach cash management and plan for financial survival until the crisis subsides:
Cash strength is the single most important indicator of survival during periods of economic disruption—and executive teams must focus their resources on building an effective cash management process to optimize revenue. That was the key takeaway from this web briefing, where OPEN MINDS Senior Associate Ray Wolfe, J.D., mapped out a five-step approach to managing cash flow and revenue to recover from the economic disruption.
Navigating a recession certainly isn’t easy—but it’s not impossible. In this web briefing, OPEN MINDS Senior Associate Ken Carr discussed how organizations can manage to quickly increase cash inflows now, while optimizing operations, talent, and service lines to improve financial strength and resilience.
Mergers, acquisitions, and affiliations (MA&A) can be leveraged to improve financial and market positioning—but many organizations wait until it’s too late. OPEN MINDS Senior Associate Ken Carr discussed the essential components of MA&A strategy that contribute to long-term success—from identifying the best fit growth model for provider organizations to ensuring seamless transitions.
The unprecedented $2 trillion federal coronavirus relief package had a lot to unpack (in over 800 pages of legislation). The Coronavirus Aid, Relief and Economic Security (CARES) Act has a number of provisions to help small business owners struggling with finances—which OPEN MINDS Executive Vice President Tim Pisula outlined in this web briefing. Mr. Pisula covered how provider organizations can leverage a variety of financial resources including federal relief funding, telehealth benefits and grant programs, and provisions for Medicare home health services.
The organizations with enough cash to weather the significant downturn in revenue brought by the crisis are the organizations that survive. This article outlines the five key steps to managing cash amidst the crisis, a time where balancing income and expenses is essential for survival.
We looked at how to maximize revenues and do business development in the midst of the crisis:
Responding to rapidly changing market needs requires a complete transformation of service delivery in all aspects of the organization. In this web briefing, OPEN MINDS Senior Associate Paul M. Duck examined the strategic implications of our current disrupted market, and shared innovative ideas to maximize revenue, reposition services, and strategically deploy staff.
Maintaining competitive advantage is critical both during and after the COVID-19 crisis. In this web briefing, OPEN MINDS Vice President Richard Louis, III reviewed how specialty health and human service organizations can stimulate referral volume and enhance service delivery systems to stay competitive in the months (and years) ahead.
Maximizing revenue in the short term is key for sustainability in the long-term. OPEN MINDS Senior Associate Ray Wolfe, J.D., discussed how executive teams can learn to manage costs, streamline operations, and strategically improve financial strength for post-disruption resilience.
One big challenge for executive teams trying to stabilize revenues is that traditional referral channels are running dry as they deal with the effects of the pandemic. But how do you focus on generating new referrals while grappling with the economic and market disruption? This article summarizes how to build a strong referral generation plan, even during a crisis, with three key components: referral source education, marketing and outreach, and payer needs assessment.
While it may seem contradicting, the revenue of health and human service organizations is down. This article highlights two possible routes for increasing revenue amid the crisis, from going virtual service through virtual marketing, to seeking out new revenue opportunities during the crisis.
We took a deep dive into all things needed for digital service delivery:
Telehealth and virtual care have become the new normal as a result of the COVID-19 pandemic. But how can executive teams prepare for the future of telehealth as the paradigm shifts after the crisis? OPEN MINDS Senior Associate Steve Remillard took a deeper dive into answering the big picture questions in this web briefing, where he discussed the new rule base for going ‘virtual service’ during the pandemic and how to take steps to ensuring your strategy is sustainable in the long-term.
Telehealth has remained at the forefront of the pandemic in terms of strategy. OPEN MINDS Senior Associate Deb Adler hosted this executive web briefing outlining how two behavioral health provider organizations pivoted overnight to sustain critical services during the COVID-19 pandemic through virtual services, with perspectives from MindPath Care Center’s Diego Garza, M.D., vice president of strategy and innovation and director of telehealth; and Kolmac Outpatient Recovery Center’s Jen Dorsey, chief clinical officer and vice president of operations and George Kolodner, M.D., founder and medical director.
Specialty provider organizations serving vulnerable populations are impacted in completely new ways as a result of the shift to virtual care. This web briefing brought together a panel of autism services experts who shared their unique perspective on navigating and overcoming the challenges in virtually serving consumers with autism. The faculty included Mordechai Meisels, chief executive officer (CEO) of Encore Support Services; Colin Davitian, CEO and co-founder of Gateway Learning Group; Yagnesh Vadgama, vice president of clinical care services and autism at Magellan Health; and Deb Adler, senior associate at OPEN MINDS.
The shift to virtual will continue to reshape how we deliver care in the future—but despite our new “digital” normal, it’s important not to lose sight of the individual. As highlighted in this article, virtual may not be the most optimal treatment modality for all consumer populations (including consumers with autism, intellectual and developmental disabilities, paranoia, anxiety disorders, and consumers with sensory and communication difficulties) and requires a more calculated approach to care.
Maintaining continuity of care for consumers in residential and outpatient addictions treatment programs has posed a significant challenge for provider organizations amid the pandemic disruption. In this web briefing, OPEN MINDS Senior Associate Deb Adler was joined by Lantie Jorandby, M.D., chief medical officer of Lakeview Health; Pablo McCabe, director of national and strategic accounts at Hazelden Betty Ford and Quyen Ngo, executive director of the Butler Center for Research at Hazelden Betty Ford, who discussed the strategic opportunities and challenges blended programs are facing as a result of the COVID-19 pandemic and how the new changes are shaping the direction of research. Erin Boyd, solutions and program director at Cigna and Deb Nussbaum, senior director of behavioral product at Optum, shared the payer perspective on the changes to service delivery for facility-based care for addictions.
We outlined the steps to moving referral generation and revenue generation to digital too:
With more consumer populations turning to online platforms for health information and treatment options, building up your online virtual brand is essential for competitive advantage in our current market. OPEN MINDS Executive Vice President Tim Snyder focused on how to build a compelling virtual brand in this web briefing, including how to modify your web presence and performance to drive volume in virtual services and use social media for referrals, testimonials, and consumer engagement.
A well-branded, functional website can give your organization a leg up on competition in these challenging times. In this web briefing, David Forbes, vice president of client partnerships at OPEN MINDS, shared a step-by-step approach on how health and human service provider organizations can upgrade their online presence to stimulate referrals for online and onsite services.
Now more than ever, consumers are turning to online platforms and social media to find information and treatment options—ensuring your virtual brand and virtual strategy are up to par is essential for competitive advantage. This article outlines five fundamental questions to consider when re-vamping your online presence.
With increasing competition for consumers and referrals, investing in an online presence—and online marketing—is increasingly important for provider organizations to maintain revenue. That was the main takeaway from this article, which highlights the six essential components to deploy a “best practice” approach when competing for referrals and consumers online.
What are consumers looking for when they search for your organization? And what will they think when they find you? This article highlights a few key considerations to ensure your organization is better positioned in an increasingly competitive market by making your website simpler to understand, and easier to access than any of your competitors.
And, we provided a framework and best practices for recovery planning for post-disruption sustainability:
What are the challenges keeping executives up at night? In this executive roundtable discussion, OPEN MINDS Senior Associate Joe Naughton-Travers was joined by fellow senior associates, Sharon Hicks, Ken Carr, and Leon Hoover, on lessons learned from managing during the crisis, what lies ahead in terms of market disruption, and how executives are preparing for the new normal.
When a crisis hits, the focus is on survival—but a short-term focus with a long-term view is necessary for sustainability. For executive teams, that means adjusting your market positioning, expanding your service line portfolio, and reevaluating your strategic plan to be market-focused. While the future is uncertain, this article explores the strategic challenges and opportunities for executive leaders as they navigate the disruption.
Plans of any type—including plans in a crisis—are only as good as their effective implementation, making executive action and efficient execution critical. In this article, we outline the essential actions that executives can take to ensure success in a crisis from empowering frontline staff to make decisions to looking for opportunity amid adversity.
For many organizations, the leadership team is charged with the task of developing and implementing the recovery plan. But what do leaders need to turn those plans into action? This article covers the 12 critical actions successful leaders are taking right now to combat current market challenges with specific leadership advice from three chief executive officers (CEOs)—Charles Ingoglia, CEO at the National Council for Behavioral Health; David Klements, CEO at Qualifacts Systems, Inc.; and Jon Wolf, CEO at Pyramid Healthcare, Inc.
To achieve financial sustainability and competitive advantage in a specific market, for a particular group of consumers, organizations must have a value proposition for serving customers that is better than (or at least as good as) other alternatives. This article takes a deeper dive into the basic steps to approach the task of developing those new business models needed for success in a post-crisis environment.
And for even more, join us for our upcoming web briefings that will be offered as part of The OPEN MINDS Executive Blueprint For Crisis Recovery series:
- July 2 at 1:00 pm EDT: Executive Portfolio Management In Time Of A Market Shift – What Programs To Keep & Which To Close?
- July 9 at 1:00 pm EDT: Opportunistic Business Development – Responding To New Market Needs, Quickly