The idea of owning a hospice is daunting. There are so many rules and regulations, and financial pitfalls that can derail your new operation before you even pull out of the station. The ability to perform due diligence effectively protects you, the purchaser and owner, from being exposed to financial obligations and fines from Medicare for poor practices shielded from you prior to purchase. Medicare does not pursue the team that committed the offenses – they pursue the current ownership regardless of whether or not you owned the agency at the times the poor practices were in place.
WD Management experts are able to review from an operational perspective to expose those things a seller tries to cover. We can provide a list of concerns with a discussion that helps not only with your decision to purchase or not but to negotiate price and escrow commitments.
There really is such a thing as passive ownership. With the right team and consistent communication, any owner can enjoy the benefits of being the person bold enough to take the risk. Most small business is just not able to cultivate the level of expertise necessary to achieve that comfort with the staff within the first five years – if ever. There’s a reason that owners of small agencies often share similar stories of stress and long hours.
That’s not necessary.
For less than the cost of one skilled executive, you can have the entire WD team managing your agency. Under the skillful guidance of the WD Management crew, you can pursue other business opportunities or the enjoyment of life. You will become accustomed to having the expectations of clear and accurate communication regarding the status of your business, with strategic growth and compliance management.