"When a company becomes publicly traded, their loyalty moves from inside to outside. Their loyalty now lies primarily to the shareholders and shareholders show their loyalty back to the company in the form of buying and owning stock in the company,"Jay Bazzinotti,
Always Be Closing.
Most of us think of organizations such as Amazon, Comcast, AT&T and the like when we think of publicly traded companies. It might come as a surprise, then, to know that most, if not all, multiple facility P&O companies in Middle Tennessee are either venture capitalist backed or publicly traded companies.
How Does This Affect You, The Patient?
Seems like the way a business is organized wouldn't matter that much to anyone but shareholders. But it is tremendously important when you are considering whom you are entrusting your mobility to. Our President, Aaron Sorensen, MBA, CPO, LPO, is the final decision maker in all things related to RHS. He is a practitioner himself and sees a full caseload of patients every week. There are no board of directors or shareholders who make, or have input into our decisions regarding our patient care.
When Planning Our Patient Care We:
-Do not have to stick to a corporate pre-approved list of vendors or products
-There is no formulary for our clinicians to follow
-There is no time limit or number of visits placed on appointments
-There is no hard sell on technology that you may not need or want in order to drive up revenues for the company
Important Questions to Ask When Deciding Between P&O Companies
-Is your ownership local?
-If not, what is your primary focus, regional or national?
-Do your practitioners receive bonuses for financial performance?
-Do you have a formulary that limits componentry and decision making to certain types of products?
-What types of percentages off the cost of components and other products does your practice receive from manufacturers to incentivize you to choose them over another supplier?
-Does your company have a preferred vendor list that you are required to follow in patient care?