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What You Must Know About Opportunities, Euphemisms, and Power: Group “Buys” Competitors for Nothing
If you participated in the live or on-demand version of the How to Deploy the Secret Sauce of Opportunistic Strategy webinar, which is a prerequisite to participation in the Strategy Working Group Program, then nothing I’m going to describe below will shock you. In fact, it will make you smile. (If you haven’t done that initial work, you can start by accessing the on-demand webinar here.)
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The five orthopedic surgeons who dissolved their private practice in 2016 to become employees of Aspen Valley Hospital (“AVH”) are out of jobs, maybe permanently, in their little slice of what was a mountain paradise.
The majority of the seven surgeons from the current outside ortho group practicing at AVH, OrthoAspen, will soon be in the same avalanche, at least as to practice at the AVH location.
And The Steadman Clinic will have taken a giant opportunistic leap forward.
It appears that Steadman executed on one of the strategies explored in the How to Deploy the Secret Sauce of Opportunistic Strategy webinar and to be minutely dissected in the Working Group program: “buying” a practice without paying a cent.
The public reaction (for example, see this article in the Aspen Times) is one of shock. Why wouldn’t Steadman simply hire all of the currently AVH-based orthopedic surgeons?
The public, and I’d guess the soon to be unemployed OrthoAspen surgeons, apparently misunderstood what the word “partnership” means in the healthcare deal context.
Earlier this year, AVH’s CEO was reported to have said that AVH thought it wise for Steadman and OrthoAspen to be strategic partners instead of operating as separate entities.
But in the real world context of opportunistic action, “partnership” is a euphemism for “acquired” or “controlled.” As in, “sure, we’re your partner, but you work for us, I mean, if we let you work for us.”
Steadman understood this. AVH understood this. One can only wonder what OrthoAspen thought.
Apparently, no one consulted the hospital employed doctors because, well, no one had to.
[To become an inner Steadman (and not an inner OrthoApen), start by accessing the on-demand webinar here.]
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| | How to Deploy the Secret Sauce of Opportunistic Strategy - Webinar On Demand
They say that COVID-19 has changed the world, creating the "new normal." Many of your colleagues and many hospital administrators are running scared.
Others, leaders like you, know that crisis means opportunity.
Let me provide you with the strategic tools and insights that you need in order to seize opportunities, whether they’re in the context of your current business relationships, the expansion of your business activities, or the creation of new ventures.
You will learn:
•Defense as a defective default: It’s necessary, but not sufficient.
•Exploiting weakness: Drop the guilt and identify opportunity.
•Flat line negotiation is fatal: Understand its myths and limitations.
•Negotiation reality: Learn to identify and deploy on multiple planes to affect the outcome.
•Maneuver: Harness the power of maneuver, both in overall strategy and in specific negotiation strategy.
Others see a crisis and freeze in fear. Learn how to see the opportunities and obtain the tools to increase your odds of obtaining them.
The price to attend is $479. The cost of not attending is astronomical.
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| | | Newsflash: Business Life In the Time of Coronavirus - The Way Out
The coronavirus crisis, especially as it's become politicized, raises a number of business issues and, quite frankly, business opportunities in regard to future disruptive events.
Check out our mini-series, with actionable business lessons for medical group leaders.
Sooner or later this crisis will end. You can’t allow yourself to be too busy, too occupied, too concerned with current events, to devote time and effort to strategizing for your future.
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| | | Wisdom. Applied. 140 - The Problem Is the Cure I want you to think about things a different way: Most problems, maybe even all problems, are themselves the kernel of the solution. |
| | | Last month, our bookkeeper called me to let me know that what one of the postcards advertising our upcoming Understanding the OIG Advisory Opinion Process webinar had been returned by the post office.
I asked her what she was talking about because that webinar was presented over four years ago, in April 2016 to be exact.
She took a picture of the card and sent it to me: Yes, a postcard we had mailed out in March 2016 was returned as undeliverable by the post office four years later.
Yes, the post office did the right thing. They returned the postcard so we could update our mailing list.
But no, they did the wrong thing because they did the right thing four years too late.
Are your group members and staff doing the right thing? Great!!
But are they doing it in a timely manner, or so late that it doesn't make a difference?
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| | Help Us Help You With Helpful Content
What tailored content would you most like to see during this time? How can we focus on solutions to your most pressing strategic concerns?
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| | Podcast Compilation Greatest Hits - Strategy Edition 1.0
We've curated our most popular podcasts on strategy into our first compilation album.
Sit back, enjoy, and think about your future.
Listen here. |
| | | | | | We all hear, and most of us say, that the pace of change in healthcare is quickening. That means that the pace of required decision-making is increasing, too. Unless, that is, you want to take the “default” route. That’s the one is which you let someone else make the decisions that impact you; you’re just along for the ride. Of course, playing a bit part in scripting your own future isn’t the smart route to stardom. But despite your own best intentions, perhaps it’s your medical group’s governance structure that’s holding you back. In fact, it’s very likely that the problem is systemic. The Medical Group Governance Matrix introduces a simple four-quadrant diagnostic tool to help you find out. It then shows you how to use that tool to build your better, more profitable future. Get your free copy here.
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| | | Whenever you're ready, here are 4 ways I can help you and your business:
1. Download a copy of The Success Prescription. My book, The Success Prescription provides you with a framework for thinking about your success. Download a copy of The Success Prescription here.
2. Be a guest on “Wisdom. Applied. Podcast.” Although most of my podcasts involve me addressing an important point for your success, I’m always looking for guests who’d like to be interviewed about their personal and professional achievements and the lessons learned. Email me if you’re interested in participating.
3. Book me to speak to your group or organization. I’ve spoken at dozens of medical group, healthcare organization, university-sponsored, and private events on many topics such as The Impending Death of Hospitals, the strategic use of OIG Advisory Opinions, medical group governance, and succeeding at negotiations. For more information about a custom presentation for you, drop us a line.
4. If You’re Not Yet a Client, Engage Me to Represent You. If you’re interested in increasing your profit and managing your risk of loss, email me to connect directly. |
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