LHC #126 - Get Ready for the Future - Coming Soon! ![]()
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Get Ready for the FutureIt's Closer Than You Think!December 19, 2007~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~In this issue...-- Christmas is a Great Time to Get Ready for the Future-- Sales and Marketing Strategies for PPS Performance-- About the Author-- Permission to ReproduceWelcome,
...to Stephen Tweed's Leading Home Care Report. This special report is for CEOs and senior executives of America's leading home health care companies. This report is published every other Wednesday by Leading Home Care ... a Tweed Jeffries company for our clients, friends, and advocates who want to grow their home health businesses.
Christmas is a Great Time to Get Ready for the Future~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~It's Christmas time and I'm looking forward to some things! I'm looking forward to time with family, turkey dinner, going to church, playing with the grandchildren, and perhaps a day of skiing.I'm also looking forward to a day of reflection. One of my personal holiday traditions is to find a day with nothing planned and reflect on the year just finished. I usually begin by looking at The Seven F's - Faith, Family, Fun, Fitness, Free Gifts (volunteering), Finances, and Focus on Career. Every year, Elizabeth and I set goals in each of these seven areas and I like to reflect on what has happened in each one.
Then I spend some time on Finances and Career. That means reflecting on our business. I review the financial results, the statistical data, and the list of clients served.
I use these numbers to paint a picture of our business as it exists at the moment. Then I look into the future to create a picture of what I'd like our business to look like next year at this time. That reflection leads to some dreaming about the things I want to do in the coming year.
This is not a formal strategic planning process. That's a different time. This is my time of personal reflection, pondering, dreaming, and visioning. It's a time to give thanks for all the blessings of the past year, and to put together my wish list for the coming year.
In getting ready for this time of reflection, analysis, pondering, dreaming, and visioning, I took a quick look at the numbers through November. I learned some interesting things about our business:
- We grew just over 30% this year.
- Just over 50% of our business was related to Medicare Certified Home Health Care.
- Just under 50% of our business was related to Private Duty Home Care.
- Nearly everyone calling us wants to grow their business.
- The areas of greatest concern are sales and marketing, and recruiting and retention.
- Just over 50% of our revenue is from speaking and consulting engagements.
- Just under 50% is from learning products.
In looking back at the year nearly finished, there were a number of highlights that led us to a terrific year:
- the introduction of our Private Duty Caregiver Selection System and Online Assessment
- the growth of our Sales Training & Coaching business with Michael Giudicissi
- the introduction of the Certified Home Care Sales Professional program in cooperation with Decision Health
- partnering with Dr. Tray Dunaway on the CHCSP workshop
- the launch of our Quick Start Coaching for new sales representatives
- publishing new e-Books and e-Tools
- introducing Julie Raque as our new Client Services Coordinator
There were some things we tried that didn't work well, and some areas where we did not do as much as previous years.
Next week, I'll take some time to do more analysis and reflection. After the new year, I'll have some insights and strategies for you to think about, and at least one major announcement that is very exciting.
What about you?
What will you be doing over the holidays? Will you be able to find a few hours somewhere to sit back in a quiet spot with a cup of coffee and reflect on 2007? Will you take some time to look at the numbers to see what you can learn? Will you come back to work after some family time with a new, fresh vision for the coming year and some exciting ideas about how to grow your business?
Taking a little down time to relax and reflect is a great way to celebrate the past and get ready for the future. But don't forget to enjoy the present. Please take time in the moment to enjoy your family, your friends, your church, and your community. If you are traveling, as we are, please travel safely and enjoy the journey.
Best wishes for a joyous Christmas and a prosperous New Year!
From all of us at Leading Home Care!
Sales and Marketing Strategies for PPS Performance~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~The hottest topic in home health care today is the upcoming change to Medicare PPS. This adjustment in the way your agency is reimbursed for care will have a huge potential impact on the future of your agency. Since this CMS reimbursement change is designed to be "budget neutral," some agencies will win and some will lose.Will your agency be a winner or a loser under the revised PPS?
One of the ways to be a winner is to focus your sales and marketing team. Help your sales team members understand the changes in PPS, and how their sales efforts will affect revenue and profitability. Then help them focus their sales efforts on those referral sources that are most profitable for your agency.
We're NOT talking about cherry picking the system here. What we ARE talking about is helping your sales and marketing team members understand the changes to PPS, and how their sales effort will affect your agency either positively or negatively.
As we work with hundreds of sales and marketing representatives in agencies around the country, we are constantly amazed at how little they really know about home health reimbursement. They don't understand the impact of their sales actions on the agency's bottom line.
If you want your sales reps to grow your agency by bringing in referrals that turn into profitable admissions, then you need to help them understand the best way to do that.
Join the Team from Leading Home Care
. . . for a three part audio teleseminar series on Sales and Marketing Strategies for PPS Performance beginning on Thursday January 17, 2008 at 1:00 p.m. and then running every three weeks for three sessions. Stephen Tweed, Judy McGuire, and Michael Giudicissi will lead you through an in-depth discussion of the changes in PPS, the information your sales reps will need to be winners in the marketplace, and how you can measure your sales and marketing performance under the new PPS.
- Thursday, January 17, 2008 - 1:00 p.m. Eastern - How PPS Impacts Sales and Marketing
- Thursday, February 7, 2008 - 1:00 p.m. Eastern - Sales Team Strategies for PPS
- Thursday, February 28, 2008 - 1:00 p.m. Eastern - Measuring and Managing Sales Success
Now's a good time to register if you still have some money in your 2007 Sales Budget that you need to use before the end of the year. "Use it or lose it" is how the saying goes. For the very reasonable price of $499.00 per calling location, you can receive this value-packed audio learning program for all of your sales and marketing representatives. You will also want to invite members of your management team. The more people in your agency who understand these principles, the better your bottom line performance will be.
Just click on the link below. Enter the contact information and your credit card. We'll send you a telephone number and log in information a few days before the teleseminar, along with a link to download the handout materials.
It's a simple, easy, effective way to help your sales and marketing team members get the information they need to bring in more referrals that turn into admissions with higher revenue per episode.
And now's the time to register if you want to use those few remaining dollars in your sales and marketing budget before the end of the year. Use them or lose them!
About the Author~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Stephen Tweed, CSP, is Chairman and CEO of Leading Home Care ... a Tweed Jeffries company. For nearly 25 years he has been a recognized leader in strategy and leadership development for home care companies and associations. He is the author or co-author of five books, four of which were written specifically for the home care industry. He has served on the boards of directors of three not-for-profit home care agencies, and has served as interim President & CEO of a $25 million home care company.
Stephen is a past-President of the National Speakers Association, a 3500 member international society of experts who speak professionally. He is also the father of a 37 year-old son who is physically disabled and uses the services of home care on a daily basis.
Permission to Reproduce~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Permission is granted to healthcare publications, associations and companies to reproduce this article in your publication, or to distribute copies to your leaders, on the condition that you reproduce the credits and contact information as follows: "Reprinted with permission from Stephen Tweed's Leading Home Care Report. Copyright 2006 Stephen C. Tweed. To receive a FREE subscription to this newsletter, log on to www.leadinghomecare.com."
Contact Leading Home Care~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~email: stephen@leadinghomecare.comphone: 1-866-209-5101~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~