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How to Survive A Merger, Acquisition or Reorganization in Healthcare

Here are 4 tips to set you up for success and to help protect your job.

Mergers and acquisitions are on the rise as healthcare providers attempt to stay alive and viable. As recent as December 2017, there was significant merger activity across the country as health systems joined forces with other health systems in an attempt to control the episode of care leading to better outcomes and lower costs. It isn’t a question of “if” but rather “when” your organization will go through the pain of some type of reorganization. Be prepared! As a leader in our ever changing healthcare environment, be ready to weather the storm. 

Here are 4 tips to set you up for success and to help protect your job.

When the vision, mission, values and culture of the organization take on a new direction, be sure to gain a very clear understanding and be able to articulate them to your direct reports. These four components will provide a firm foundation for how to be successful with the new organization.

1) Build Key Relationships Early, Starting with Your Boss.

Ø Understand the expectations of your boss and get clear on the top 3-5 goals your boss wants you to focus on. Find out about the key performance indicators and success metrics. Share progress often and regularly ask for feedback.

Ø Ask your boss to identify other key stakeholders for you and set up one-on-one meetings with them.

2) Avoid conversations about the past organization and resist talking about the “old ways of doing things.”

Ø Focus on the present and incorporate past learnings to build a better future for your organization.

3) Practice extreme self-care. Likely your stress level will be high and your workload will be increased.

Ø Getting 6-8 hours of sleep is critical. Sleep deprivation affects focus and judgment.

Ø Regular exercise is one of the best ways to reduce stress. It increases your overall health and your sense of well-being.

Ø Practicing mindfulness can help you increase focus and concentration to obtain exceptional results.

4) Plan for the worst. Protect yourself. Remain marketable. It is not unusual for the new administration to bring in its own team leaving you out of a job.

Ø Stay current with the latest industry trends. Increase your knowledge and skill level. Do not forgo continuing education just because your education budget has been cut. Invest in your future.

Ø Broaden your network and stay connected.

Originally published at www.robbiekcarlson.com

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