Back in 2005 I was a newly minted CEO of a small hospital in south Mississippi. One month into my tenure we were hit by Hurricane Katrina. It was disastrous. At the same time, it brought us together as a hospital. But that is a different story.
The purpose of this story is to relay something I learned two weeks after Katrina devastated our area. At a debriefing with our state Emergency Management leaders, one of the crowd members asked, “How can we prepare in case this happens again?” I will never forget the answer given by the speaker. He simply said, “YOYO.” We looked at each other puzzled. He continued “YOYO – You’re On Your Own.” What a great acrostic. I have used this acronym since to deal with disasters or semi-disasters. It works very well. You can rely on no one else to help. It is up to you!
So, I am here to respectfully suggest YOYO – You’re On Your Own.!”
The Larry A. Green Center and the Primary Care Collaborative recently said, “Perhaps at no other time in history have primary care practices faced such risk and uncertainty. As many as 13% predict closure within the next month and 20% have already had temporary closures. Nearly half have laid off or furloughed staff and 51% are uncertain about their financial future one month out.” The report further states, “57% report decreases in payments sufficient to care delivered, while 60% find less than half of their work reimbursed.”
And we all know what small hospitals have been dealing with over the years. COVID-19 has added a whole new layer of financial distress to already overloaded hospitals.
So, YOYO. What to do? Well, there are 2 Key Areas you must address as soon as possible.
- Get Money. You must be more aggressive going after every penny you are owed.
- Get your Patients back. You must develop a relationship with your patients that goes beyond anything you can imagine.
That’s it. That’s all you have to do. Simple, right? Easy, No! To recover successfully from the COVID-19 disaster, you are going to have to do those two things better than you ever have before.
We have developed a two-pronged, simple approach to assist you in your COVID-19 recovery. If you’d like to see more and set up a free short call to discuss how this two-pronged approach can help you not only survive but thrive after COVID-19, click the link below. And remember…YOYO!