Gear Change. A series by James Price. Fast information for when your time is poor, and you know the best time for change is now.
This series provides insight and advice with a focus on improving productivity and sustainability for aged care providers in Australia. A series that you can squeeze in during your lunch hour and then share the ideas with the rest of your team in the afternoon.
Here we are in April 2020. And it’s that time of year where we may be reflecting on our New Years Resolutions we made way back then, which seems a lifetime ago.
After Christmas, generally our resolutions relate to losing weight, doing more exercise and being more organised. Christmas certainly has a lot to answer for!
Some research suggests that 45% of people fail to keep their resolutions past February and only 19% keep them for 2 years. I’d expect here in Australia we probably fare a little better, because let’s face it our resolutions probably aren’t kicking in ‘til we’ve had the Australia Day long weekend.
So, what’s the secret to keeping a resolution and how do we make change stick?
Well they say a problem shared is a problem halved and where we seek help, we are most likely to succeed. In health and fitness, we have long been exposed to the notion of a personal trainer and in business we are familiar with performance coaches.
We use the concept of performance coaching in our partner relationships with our clients. We don’t ask our clients to outsource their processes to us, rather we co-source and drive performance improvement together.
The key to achieving the desired results is to measure against your targets on a regular basis and set those targets based on what we understand is possible. I might benchmark my 100m sprint against Usain Bolt, but realistically I should be aiming to take 2 seconds off my time and not aim to beat the Bolt!
With a realistic target in mind, the next step is to build a plan and execute on this plan flawlessly. At Mirus we have a solid track record in helping clients improve their organisations performance. As a result, we have some great benchmarking data to utilise.
With many Providers experiencing financial pressure and by some indications more than half the industry operating at loss – the time is right to seek support and coaching.
The recent announcement of a $50m fund to help Providers in trouble is a commendable initiative from the Department and we look forward to the success stories from the eligible recipients.
If you can’t wait that long or wish to hear how Mirus drives performance improvement, then please get in touch. We focus on the three (3) key areas to drive financial sustainability in aged care:
- Revenue – the right funding, no more, no less, is essential – are you getting the right amount?
- Admissions – how does your business look if occupancy can be increased?
- Workforce – Do your systems allow real-time reporting and forecasting? Solutions that can do this open 2-4% cost savings.
Make 2020 the year you embrace coaching. For you and your teams. Please get in touch to find out how we can help.
James Price, co-founder at Mirus Australia is a self-confessed petrol head. That is a person who is overly reliant on the use of their car and enjoys making a noise with it. James frequently shares a car analogy to explain a methodology, complex problem or an idea that has formed and with the goal of #makingagedcarebetter