Live blogging from HME Business Summit: What's your adaptive capacity?
Carol Muratore on "unprecedented leadership in unpredictable times."
She points out that the HME industry isn't the only industry to be experiencing unpredictable times. The world has also become unpredictable due to 9/11 and terrorism, the economic meltdown, climate change, not to mention healthcare reform.
Muratoree says, as consumers, we're not getting bang for our buck when it comes to health care. The US spends $7,300 per person and the average life expectancy is 78 years. Japan spends $2,600 per person and the average life expectancy is 83 years. Like Professor Van Horn, she says we're in a crisis and something has to give.
She says traditional fixes for unpredictable times include collect and analyze data, tighten controls, cut expenses, restructure. (The things you want to avoid: Tunnel vision, false sense of security, illusion of normalcy, return to old ways.)
So what's adaptive capacity? Muratore says adaptive capacity comes from crucible experiences. She says they unleash your capabilities, both personally and professionally. HME providers need to take the attitude that, "I'm not going to let this defeat me."
Four adapt-abilities: fast, flexible, vision, inventive.
Here's how Muratore says you can incorporate adaptability skills into your business model: blend traditional and new methods; be quick to re-act to market dynamics; be "studied to make accurate decisions; use crisp communication; share learning with team; develop others to unlock their potential; distribute responsibility down and across; and ensure everyone has a stake in the game.
Muratore says, "Don't forget, adaptive leaderships is what's needed in this day and age."