ADAPTING to Customer/ Patient Changes Provides Opportunities!          We discussed in our last note that the reason that strategic thinking, planning and leadership is now so critical is that all of the key stakeholders, the micro and macro-environment is changing both rapidly and significantly. Stakeholders are any group that has a vested interest in the success and profitability of any organization.      They include customers, suppliers, employees, communities, educational organizations, governments and others.          We will start with the…

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Strategic Winning equals L.A.T.I.N LEADERSHIP is first!             Leadership is vital to the success of any organization. Even if an organization has the best competitive strategy it will not succeed unless it has the right leadership.             Based on my experience and research leadership must fit the life cycle of the business and the type of strategy they selected. Let me illustrate what I am saying. There are four stages of the life cycle. Each requires a different type…

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Strategic Winning! L.A.T.I.N!!               Having spent many of my years as a corporate strategist, leading my own consulting organization, teaching, writing and lecturing, I tried to summarize what I believe are the essential elements of being a strategic winner.             When I wrote my latest book: The Secret To GE’s Success! (that I wanted to entitle: Breaking the GE Code) I came to conclusion that GE’s 125-year growth, profitability, and survival could be summarized in one word: L.A.T.I.N…

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Reasons why Middle Income Class Is in CRISIS and Declining!!             The United States is unique because its MIDDLE income have grown, prospered and provided the foundation of its society… BUT THE MIDDLE INCOME is DECLINING and in JEAPODY…I would like to outline some of the reasons for its decline. Reason #1— IMPOSSIBLE TO GROW SAVING! The Federal Reverse’s 12 years of low interest policy has made it impossible for the middle class, and those on FIXED income to…

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The Wall Street Journal article in their August 26, 2016 edition highlights the growing problem of the MIDDLE INCOME families and individuals to be able to AFFORD and USE healthcare services. These are some highlights in the article: By 2014, middle-income households’ health-care spending was 25% higher than what they were spending before the recession that began in 2007, even as spending fell for other “basic needs” such as food, housing, clothing and transportation, according to an analysis for…

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Patient Demographics Marital Status, Children, Continuity and Turnover! More keys to cash flows!             So far we have discussed the following patient demographics, trends and impact on cash flow: Ability to pay!, Health Condition, Age, Gender, Nationality/ Race/ Religion, Occupation and Income level.             Now we will discuss Marital status, Number of children, Continuity and Turnover.   Marital Status and Number of Children The attitude toward marriage and families has changed dramatically in many parts of the world and…

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Additional Strategic Patient Profiling and Implications! CONTINUING PROFILING…..             We have now covered these patient demographics and described the need to track and monitor changes that can impact cash flow: Ability to pay, Health Condition, Age, Gender, Nationality, Race and Religion. Next we will focus on Occupation and Income levels.             Occupation/Profession How patients make a living is vital since it influences the type of illnesses, health risks that can impact them. For instance…

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Additional Profiles and Implications! In my last note, I discussed the value and need to profile your current patient demographics and then use them to project changes in the future.             We have discussed the need to understand how the patients pay, since this is changing and more and more of the cost is being placed on the patients themselves and less is coming from insurance and employers. There is no question that this trend will continue, unless the…

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In my last few notes, I described some of the elements of a strategic profile. Having a profile of your practice’s current patient base is important since it enables you to understand the current demographics that impact your cash flow and then to help you evaluate how changes in the future will impact it.             A strategic patient practice profile is similar to the charts you use for patient to determine what is normal for each patient and then…

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                 All successful businesses and organizations must start with understanding who their current customers are and which segments contribute to the most to their positive cash flows. This requires “profiling” of the current customer base and then a projection of how these demographics may change.             In the last two notes, I discussed “how they pay” and “health conditions” as two key demographics that must be evaluated to determine how they impact…

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