Effective Communication Strategies for Hospital Mergers and Acquisitions

Hospital executives are often faced with the challenge of managing anxiety and rumors among employees and stakeholders when a management or governance deal is announced. However, effective and strategic communication can help alleviate concerns and ensure a smooth transition.

According to Carol Geffner, PhD, co-founder and president of Newpoint Healthcare Advisors, hospital leaders need to proactively communicate with all parties involved in the deal to address questions and concerns. This communication should begin early in the process and continue throughout the transaction.

To create an effective communication strategy, hospital leaders should consider the following tips:

1. Communicate the shared vision: Clearly articulate the shared vision and goal of the transaction to help employees and stakeholders understand and accept the deal. Hospital leaders should paint a picture of the future and demonstrate their commitment to achieving the shared goal.

2. Utilize the communication continuum: Use a variety of communication mechanisms and vehicles to reach different audiences. This can include mass emails, small meetings with key executives, and larger town hall meetings. Tailoring communication to fit the circumstances can help combat negative rumors and pushback.

3. Consider social media: Social media can be a valuable tool for communicating with the community during a transaction. Larger hospitals with an established social media presence may benefit from using this platform to address concerns and provide updates. Implementing best practices, such as regular monitoring and response, is essential for effective communication.

4. Respond to concerns: Create channels and vehicles for employees and stakeholders to voice their concerns and engage in dialogue. This two-way communication can help hospital leaders understand the perspectives of physicians and staff, leading to valuable insights that can be incorporated into post-transaction operations.

By developing strategic communication plans early in the process, hospital leaders can effectively manage responses to a transaction announcement. These plans should be comprehensive and adaptable to ensure that communication remains effective throughout the merger or acquisition process.