Stay in the Know

Staying on top of news and trends that can impact your business is vital.  It can be hard to keep a pulse on the latest happenings when your nose is to the grind stone getting things done.  Here are some tips on how to stay in the know and still accomplish your daily to-dos.

Info Sources
Endlessly searching for information can waste a lot of time and go no where fast. Securing trusted sources of industry information is the key to success. All industries have targeted publications, associations, various blogs and informational sites. Get connected. Sign up for emails, magazines, or RSS feeds.  Set up Google Alerts are key topics, competitors, or industry terms. These alerts send emails directly when these key words are indexed by Google. Tap your LinkedIn profile and join industry groups. Set up automated email alerts for new postings and actively participate in these communities.  Most participants are willing to share when you get involved.

Organization
Now that you have all these great sources of data how do you handle it all? The trick is keeping organized.  For emails and RSS feeds set up rules in your email to automatically move things to pre-assigned folders.  This saves you time spending all day sorting your email alerts and keeps the info in one place.  Sort your direct mail and segment your industry publications separate from day to day correspondence in their own tray or folder.

Time Management

Of course the question on every one's mind is when do you have time to go through this info. The answer is you make time.  It is easier to do than you think.  Have a quick 10 minutes before your next meeting? Open up your industry email folder and scan through ones you feel are of interest or open up that industry magazine and mark articles worth diving into.  Set aside some time early in the morning or before you head out the door in the evening and go through your news sources.  The more you do this the better you will become at scanning headlines to weed out the fluff and get at the valuable data efficiently.

Prioritization

Now that you marked what you feel is important and before you close the email or toss the publication make a decision on what you are going to do with it, who is involved, and when you will do it by. This is an essential step or you wind up with piles that you never tackle. Ask yourself is this share worthy and if so who is the appropriate audience? Is this info actionable and what are my recommended steps? Then take the 2 minutes to share the the info via an email or memo or keep a running list of info to share in a monthly or bi-weekly meeting. 

Make this a daily habit and the system will flow. It will become second nature. You will be on top of your game and in the know!

Top Tips for Better Meetings

We have all been there - the endless meetings that seem to go no where or a calendar so pack with meetings you don’t know how you will do the work that comes from the meetings. Let’s stop the insanity! Here are the top tips to improve meetings for better results and shorter time frames so we call get more done.
 

Rules of Engagement

Set the ground rules of how your meetings will be structured. Don’t allow phones, tablets, laptops unless needed for presentation purposes. This avoids distractions and allows participates to be fully engaged. No meeting should be over an hour. Attention spans wane. If a topic needs more time, then break it up into pre-scheduled meetings or adjourn for a continuation meeting. Start meetings on time. Late comers have to jump in and don’t recap. They need to be respectful of everyone’s time.

Laser Focus

All meetings must a defined, measurable goal. This could be determine a new vendor, evaluate the potential for a sales contract, or brainstorm 3 ideas for new sales tactics. Whatever the meeting is for its goal must be measurable, meaningful, and define. This drives the why of the meeting. Drill this home with a focused agenda. Send the agenda to all parties as early as you can prior to the meeting. The agenda needs to highlight the goal of the meeting and detail the questions or topics to be reviewed.

Tricks of the Trade

Send out support materials ahead of time, preferably at least 24 hours prior to the meeting. This allows everyone to absorb or at least skim your talking points. This drives educated questions and streamlines meeting time by avoiding diving through the details and going straight to questions and actionable decisions. Don’t forget the follow up. The person that held the meeting is responsible for achieving the meeting’s goal. A summary email following the meeting bullet pointing the topic and the measurable results (or lack there of) not only keeps everyone in the know, but also keeps the meeting host accountable.  

Try these tips and share if you saw improvement. Have other ideas? Please share below. Happy Meeting!

Handling Complaints

Pleasing all the people all of the time isn't reality. Learning how to handle complaints and unhappy patients is a valuable skill to keep the integrity of your brand and business. Here is a sure fire method to turn complaints into satisfied customers!

Apologize

No matter what happened or how it happened apologize upfront. Even if the customer isn't always right they need to feel heard and their opinion is valued. Don't be defensive. Hear out their concern and respond back validating what you hear. The magic words to conclude the customer's concern are to thank them for their complaint. Reinforce that your business values continuous improvement and we can't improve without knowing what to fix. Many times these customers are geared up for a fight, but these magic words tend to diffuse the situation instantly.

Act

Once you understand the concern, recover the patient's confidence. You don't want to feel taken advantage of but generally the offer of a voucher, a discount, or a free service will appease the client. Another approach is ask the customer, "What can I do to make this right?". This lets you know what the customer feels is fair retribution. For the most part people will be fair and not demand the world. Try to meet them at least half way. If you have a repeated complaint, review the true cause and brainstorm solutions with your staff. Proactively educating customers and staff on your policies via  printed materials, website, and posted signs can go a long way to create expectations and a collective understanding to prevent some incidents from ever occurring.

Accept
Things will go wrong. Complaints are going to happen. Reframe complaints as an opportunity to grow, improve, and wow a customer with how your business responds. Also be aware that there are serial complainers out there. These are people aren't happy unless they are unhappy about something.  If you experience a continued complainer, a suggestion is to have an honest conversation with them. Explain they are always welcome, but your services might not measure up and they might prefer another provider better able to meet their needs. 

Learn to see complaints as an vehicle to drive better customer satisfaction and you will increase patient loyalty and build a positive business image. Do you have other tips for how you deal with complaints? Please share below.

Greening the Supply Chain

Being green can mean more green. A socially responsible businesses not only helps the planet but also drives are more economical and sustainable business model.  Here are some tips to greening your supply chain to become a more eco-driven business while keeping an eye on the bottom line.

Vendor Support

Many contracting agreements and GPO's are driving Environmental Preferred Purchasing agreements and partnering with vendors that offer greener alternative products. Explore what options are available andbe amazed at the not only the green offerings but also the savings that are to be had. Remember to keep in mind long term savings. An eco-product might cost more upfront but evaluate the potential for savings overtime.

Create Review Criteria

Draft a policy for reviewing potential new products or services. Look for eco attributes or eco-options and evaluate potential cost savings remembering the long term sustainable approach. Creating a green scorecard and a green purchasing policy has helped many organization. Keep in mind that sustainable approaches tend to have long tail savings but can add up to signification numbers over time.

Team and Partnership

No one can be a lone soldier. Create a Green Team to help look for new areas in the value chain that can be greener.  They can create policy, help spread the word, and drive support through the organization. Partner with outside groups such as Practice GreenHealth. Learn what others just like you are doing to become more green while meeting the savings battle cry. There are resources, tools, and assistance waiting to make you successful.

Analysis

Track your results and your savings. As with anything - what gets measured, get done. Outline from the start your goals and metrics and it will easier to track down the line. Even small green changes might not seem like a lot but tracking savings and environmental impact can be excellent tools to use to support broader bigger initiatives in the future.

Rewards

Acknowledge wins when eco-minded changes are adding value, driving savings, and creating a more sustainable business model. Holding quarterly or annual awards for green supply chain efforts will highlight the work through out the organization and motivate future winners creating a sustainable process for continuous improvement. 

These tips will get you started on moving towards a green supply chain. Remember small changes can have a huge impact.  Is your business employing exciting methods to green your supply chain? Please share below.

New Year's Resolutions for your Business

As the new year approaches it's the perfect time to take a look at what is working, what isn't, and how you can improve. Many people are planning to launch into weight-loss goals, more quality family time, or stress-reduction resolutions. Why not make a resolution to improve the health of your business? For many healthcare businesses there can be cost savings and untapped profit potential. Here are 3 areas to examine to make this new year your best yet!

Product and Service Lines

The first step is to take a hard look at the products and services your business is offering. Is your offering keeping up the needs of the community you’re servicing? Possibly there are products or services you could delete that would allow room for more profitable or in-demand items. Run some reports to examine what services and products you are selling and who is buying. What are your low performers and do you still need to carry them? Also look at those low or mid-level performers and see if there are ways you can encourage growth. Another excellent source of untapped data is from your staff members.  The front lines hold a wealth of info. Ask your team their thoughts of what is moving, what isn’t, why, and how you can improve. If you are a home healthcare provider, it is time to dive into increasing retail products.  This can be an excellent add on with instant cash flow in light of reimbursement concerns.

Vendor Review

Make a resolution to review your vendors. Look for ways to consolidate purchases. Many times we don’t know all the products a vendor carries. You can conserve cost by buying more items at a time and reduce freight expenses.  Review your contract agreements. It is amazing how much savings most members aren’t taking advantage of. Look at your top spend items and your supply item disposables. These costs can add up fast so complete a value analysis review and see what savings you are missing out on.  Most vendors will offer assist with your review and ramp up your savings in no time.

Positioning and Promotions
For many in the medical field, there isn’t the typical discounting and promotions that we see in the consumer marketing, but there are still many ways you can promote your business. A couple of key concerns most patients voice is are they receiving the best care at a reasonable cost? Positioning your medical business as the industry experts, the leading providers, offering innovative services and products will encourage this brand message. Also educating patients on how you are cutting unnecessary costs and giving more value for every hard earn dollar going your way will go a long way. Create cost effective marketing flyers and brochures to hand out at events or in office. Additionally, get more involved in your community. Participate in cause-related marketing efforts such as health walks or community health fairs. Not only will get to engage with your potential patients but you are helping educate on health-inspired messages while supporting your neighborhood.

These are some high level ideas but the lesson is to make time to think about business resolutions. With focused goals and targeted tactics you can make this year a smashing success!  Have other resolution tips? Please share your comment below.  

Be the Buyer Hero

Healthcare reform keeps swirling around us all. Pressure is being put on all parts of the healthcare supply chain to reduce costs and increase efficiency. According to ModernHealthcare’s 2012 Survey of Executive Opinions on Supply Chain Issues found that 91% say reducing medical and surgical supply costs is very important with 80% of the providers saying it is part of their organization’s strategic plan.  If you are a buyer in the medical supply chain, this initiative has likely landed on your desk. There is no one sweeping magic answer to the challenge ahead, but there are steps you can take now to make headway and look like the buyer hero!

Partnership

Take a look at who you are working with and buying from.  Are you actively buying off your GPO contract or other buying partnerships? If you aren’t involved in these, now is the time to step on board. GPO’s, IDN, ACO’s are all working hard to negotiate lower and best pricing deals which equates to savings. Buying through your wholesaler or distributor has many advantages and can lead to efficiency and savings. Other times speaking directly with your vendors on creative ways to reduce costs such as buying a larger quantity or different timing of your shipments can drive additional discounts.

Capital verses Commodity

When looking at reducing expenses, most buyers start with the big ticket items. This is  natural since they are larger line items on the budget, however significant savings can be found when looking at commodity items. Disposables and supply items used daily add up fast. Put these items on radar for value analysis. Review them with your buying group affiliations for deals you may be missing. This can show up as immediate savings making you look good!

Collective Think Tank

No one has all the answers and being so close to the numbers can blind us. Put together a collective think tank of people from various areas of the business especially those working with the items you are purchasing. Ask them what they recommend or could do differently.  You might discover the size of an item is actually too big and staff is cutting or folding the item - wasting time and money. Going down a size will meet our need and save expense. Another item you might be ordering every 10 days but if you bumped your order for 15 day usage you reap the benefit of the price break. You will be surprised at the saving ideas the front line can share.

Flexibility

Rules and regulations are created to make your business run smoothly, but building in flexibility can help you capitalize on opportunities. Appropriately take advantage of special offers or close out deals. Many suppliers are running promotions to move inventory off their books this year. You don’t want to be swimming in mountains of inventory, but take time to see what will work for your business to reap the savings benefits. Starting the new year off with a reduction in a line item can make you shine. 

Change is constant. Looking at the supply chain buying differently, developing new approaches, and working with your supply partners you will be up for the challenge and become a buying hero. Have other tips that have worked for your teams? Please share below in our comment area. Happy Buying!  

How Profit this Holiday Season

It's October and time to sure up your holiday promotional plan. Create a calendar of when and what promotions you are launching. Then back into the "who" behind each event or activity. Get your staff on the same page and divide up the tasks. This keeps stress levels in check and allows you to get more done. Here are some holiday ideas to make the most of seasonal sales!

Wish List
A fun, interactive way to make sure your customers receive the gifts they want is have them fill out a Wish List. This can range from items such as lift chairs, a new brace, a designer cane and more. Ask them to include the email of the significant other or gift buyer of choice. Create an email campaign to send to these potential shoppers saying ...Psst you know a secret that is on their loved ones wish list. Offer them a printable list with a discount offer. This way they gift giver knows they are buying just the right gift and you are ringing up the sale!

VIP Sales Events
Offer special VIP events closed to the public. Mail or email invites to your VIP clients,Wish-List email recipients, or specific segments of your client list like Power Chair users or Lift Recliner Users. Offer refreshments, appetizers, event-only offers, and possible gift wrapping service. All these goodies will drive attendance and increase your overall sales.

Decorate

Your customers need to envision your business as a gifting location. Tastefully create selling retail displays with holiday bags, tissue, group product sets, and ready-to-go gifts in various price points. Make it inviting and use signage such as "Gift Center" or "Santa's Little Helper Station". Encourage engagement with try-me sample areas and keep it fresh by changing your displays through the season.

Gift Cards

Did you know that gift cards and certificates are the #1 retailing item? Stock up and don't miss the boat on this huge profit driver. Create a gift card display at your check out areas. Place signage through out your location. Don't forget coordinating packaging. Offer your gift cards elegantly boxed tied with a bow or in cute gift card bags. This increases the perceived value and makes it a easy gift for the gift giver. You can also offer downloadable gift cards on your website to drive instant gifts for those last minute shoppers.

Gift with Purchase

Take a tip from department stores. Offer a free gift with purchase such as a tote or travel bag. You can offer an additional discount for volume purchases or use successful promos such as "Buy one as a gift get a free product for yourself".  Free samples or discounts off future services also are popular ways to entice buyers.

Get Social

Shout your specials and events from your digital roof tops! Keep your social media sites such as Facebook and Twitter going with new content such as info about your offers and events. Hold contests for best holiday decorated wheelchair or host raffles for prizes. Creating buzz and excitement about your sales will make them more successful.

These are a few ideas to get you going. Please share what is working for your business. Ring up those holiday profits starting today!