VGM & ASSOCIATESHealthcare MSO
Full Menu Search

Succession Planning: Don't Get Caught Without a Plan

Published in Programs & Services on March 14, 2019

What is your succession plan? Do you have a basic plan outlined if a key staff member would suddenly be gone? Miriam Lieber, a speaker at 2019 Focus Conference, recently outlined some key steps that every business owner, regardless if they are a retailer, HME provider, mastectomy business, or anything in between should follow. Make sure your business has a succession plan in place. Identify key staff in your business and train or cross-train to prepare for them to either take over the business in a few years or if a life-changing event would occur. Create plan documents that are based off of operational flow and best practices. Not only will this help your current business performance, but it will also help in the future.

Read the full story from HME News.

TAGS

  1. business development

Get Connected

Stay up-to-date on the latest resources and news provided by VGM & Associates.

Sign Up for Email

From Our Experts

Iowa Medicaid Coverage of Custom Breast Prosthesis thumbnail Iowa Medicaid Coverage of Custom Breast Prosthesis On Thursday, March 30, Nikki Jensen and Tom Powers met with Iowa State Representative Timi Brown-Powers and officials from Iowa Health and Human Services (HHS) to discuss Iowa Medicaid's coverage of custom breast prosthesis for patients. California is Moving Forward with Bill to Remove Tax on Breast Pump Equipment thumbnail California is Moving Forward with Bill to Remove Tax on Breast Pump Equipment In California, mothers who pump breast milk are required to pay sales tax when they buy their equipment. Meanwhile, infant formula is generally exempted from taxation. Breast pumps are basic necessities for breastfeeding mothers, and taxing pumps limits access to breastfeeding by making the product more expensive. VGM & Associates Releases Latest Playbook on Forecasting 2023 thumbnail VGM & Associates Releases Latest Playbook on Forecasting 2023 VGM & Associates has released the first playbook of the year, “VGM Playbook: Forecasting 2023.&rdq... The Lymphedema Treatment Act Passed! thumbnail The Lymphedema Treatment Act Passed! Last week, President Biden signed the Omnibus bill for 2022. With the signing of this, the Lymphedema Trea... Enhancing Your Store Experience: A Preview for VGM Retail Round Table Workshop thumbnail Enhancing Your Store Experience: A Preview for VGM Retail Round Table Workshop The pandemic has made doing business harder than ever. But business isn’t all gloom and doom. There ... Succession Planning: Ways to Transfer Ownership of Your Women's Health Business thumbnail Succession Planning: Ways to Transfer Ownership of Your Women's Health Business Business succession planning is a series of logistical and financial decisions about who will take over your business upon retirement, death, or disability. Minding the Customer Experience: In-Person, Online, and With Shipping thumbnail Minding the Customer Experience: In-Person, Online, and With Shipping Customers are your livelihood. You know this. And yes, it seems like a very basic statement. But often we forget just how important ONE customer can be—especially in today's environment where one bad review online can easily impact your business's reputation in a matter of minutes, much more so than a positive comment, unfortunately. World Breastfeeding Week, Aug. 1-7, 2021 thumbnail World Breastfeeding Week, Aug. 1-7, 2021 August 1 – 7 is World Breastfeeding Week. This year's theme is: Protect Breastfeeding: A Shared Responsibility. Breastfeeding has many benefits for infants, mothers, and children.  The American Academy of Pediatrics recommends that infants are exclusively breastfed for the first six months while introducing complementary foods for at least one year.