Talking business: Insight into the future of healthcare and how an acquisition can help growing companies thrive
Dodge Communications president, Brad Dodge, sat down with Atlanta Business Radio to discuss major trends in healthcare PR, the future of the ever-changing industry and key messages that every company should strive to communicate. At Dodge, Brad and more than sixty employees provide successful integrated marketing and public relations strategies to clients, which is reflected in the agency’s steady growth and recent acquisition by Myelin Communications, a family of agencies serving the healthcare and financial services sectors.
Industry shifts bolster the need for integrated communications
As the healthcare industry changes its dynamic, so do the public relations efforts that support it. Luckily, Brad notes, PR thrives on change. The job of a PR professional is to “recognize, capitalize on, participate in and manage these changes” in order to reap the benefits, so staying in sync with the evolving industry and its major trends is key. For now, the focus lies on a changing business model, and companies are taking big risks based on the perception of how the industry will operate in the future.
The industry is shifting from a fee-for-service model to a fee-for-value model, says Brad, meaning “physicians and hospitals must be more careful about services they perform when managing the health and wellness of their patients.” Going forward, this shift will alter the way that business has been done in the past, resulting in an overall fundamental change in the industry. Thus, the need for a sound integrated communications strategy is now more important than ever for companies in the space.
The benefits of an acquisition for a growing company
As the industry changes, opportunities arise. Dodge’s most recent opportunity being an acquisition by Myelin Communications, a network of communications experts linked by their experience, capabilities and vision. This acquisition provides Dodge with an abundance of new resources and allows the agency to share its PR, content development and marketing automation capabilities with its sister agencies, while also benefiting from their expertise to better serve the needs of clients.
Conveying change to your organization – transparency is key
Brad offered that the acquisition process can often be challenging when it comes time to share the news with employees and clients. With both parties always at the forefront of his mind, Brad firmly believes that all problems can be solved through proper communication, suggesting that other companies going through an acquisition should take the same approach. He insists that being clear with what you want to accomplish from the acquisition is key to getting everyone to recognize the fruits of labor.
Leading up to the acquisition, Dodge’s leadership team planned a communications strategy, which anticipated key touchpoints that would be critical in sharing the news, as well as responding to any questions or concerns from employees or clients. As a result of the leadership team’s transparency, Dodge has transitioned smoothly into Myelin’s network of agencies and looks forward to engaging in opportunities that will support future growth and drive success within the industry. If you’re interested in learning more, listen to the full interview here.