Supporting the 3 C’s in Post-Acute Partnerships
Successful partnerships in the post-acute industry are no different than any other industry when it comes to measuring success. However, it takes significant effort to find the right partner and build the right kind of partnership that produces results for both sides. This is especially true when faced with regulatory pressures and increasing provider consolidation. In addition, it is necessary to have leaders in place on each side who are passionate about making the relationship successful. These leaders are forward-looking and know how and when to collaborate while sharing the credit.
There are several factors to account for in post-acute partnerships, but arguably the three most important are the three C’s:
Clear and thorough communication is the backbone of any successful relationship, even when collaborating in the ever-changing, highly-regulated, post-acute market. Each partner has their own way of communicating, likely backed from internal communication strategies and communicate directly to the provider in a sales setting. Successful partner communication relationships are reshaped to promote cooperation, mutual business building, and a general focus on the overall outcome.
The overall art of collaborating is to eliminate any finger-pointing and ensure all responsibilities are clearly defined and expectations are clearly set for mutual customers. These activities include:
- Having the passion to contribute and sustain the partnership.
- Ensuring all parties on each side are proactive in their touchpoints (sales, marketing, product development, and strategy)
- Putting together an equal number of resources and overall effort to achieve a shared outcome.
Like any relationship, you need to be committed to making it work. This is only successful when all parties have a clear and concise path that benefits them and their customers. Every partnership goes through challenges and unknowns that will test each side’s commitment to succeed. However, if everyone is committed upfront, then overcoming obstacles becomes significantly easier. Each side needs to realize that strategic partnerships include employees from other companies whom you may have zero influence over. Each organization in a business relationship understands the other side has its own cultural norms, standards, culture, etc. However, as long as you stick to the commitment made, those potential internal obstacles can be overcome. This goes beyond the terms of the agreement. This includes routine check-ins, improving the model of the relationship, and committing to the previously set objectives while forecasting new goals.