How you add value to a business – especially post acquisition – is a hotly debated topic and is even more to the fore in these hopefully soon-to-be post-COVID times. But are there easy wins? Panellists at HBI’s latest Big Picture debate on Wednesday thought so.
Attendees heard that a full analysis from the off matters. Taking a ‘full potential view’ and analysing the organisation’s structure, and providing the right incentives to the right people, is a must. But not everyone will stay.
So there may need to be changes at the top – and that is never easy. A third of your new staff may be with you, and another third ambivalent, but that still leaves a third.
And what do you look at next? You’ve already done your homework and assessed the market before you bought. You know in retrospect whether buying that former state hospital was a good idea – and whether it could ever be a good idea.
The HBI audience heard supplier prices might be squeezed. Prices could be put up – but that can’t be done in isolation. There has to be real merit behind it. Patient mix can be tampered with in some cases. And increasingly, digital solutions provide an answer to not just the current crisis, but also to controlling costs.
While each acquisition presents its own problems, a combination of the solutions above is often the best way to make early gains.
A full writeup of the session will appear for subscribers in next week’s HBI Deals + Insights.
More on our next session, Outpatient models post-Covid
Wednesday, July 22, can be seen here.