A Look Back at 2020
Author: Vivek Mathew Posted: Dec. 18, 2020
This past year was unprecedented. It was especially challenging for agencies across the nation. Unfortunately, COVID-19 continues to place much stress on the entire industry as we look forward to the new year. Thankfully, 2021 looks to be promising. As we anticipate a mass rollout of vaccines, we are hopeful that the industry at large will push forward. But before we march onward, let’s take a deeper look into what 2020 looked like with MHA.
How agencies combatted COVID-19
Agencies across the nation took action against COVID-19 as they created containment and mitigation measures. The pandemic forced organizations to respond quickly as they monitored their agencies with greater scrutiny, and enacted procedures to protect their patients in long-term facilities. Extra screenings of all clinical staff took place to prevent any possible spread. Visitation at facilities was limited or eliminated altogether. Instead, telehealth was used to replace in-person visits.
M&A activity
There was a downturn in mergers and acquisitions in 2020 due to the pandemic. Traditional buyers in the space were more focused on their own operations than on a new venture. They instead focused on the access of PPE for their patients and staff. Newly enacted protocols ensured safety of their facilities and changed operations at several agencies. Banks were hesitant to lend to buyers in March and halted acquisitions to later in the year. Many in the private equity world evaluated the situation and moved quickly thereafter to discuss potential opportunities.
How MHA responded to the pandemic
We couldn’t have predicted the pandemic, but we acted swiftly to serve our clients across the nation. That’s why we moved our operations to remote and never ceased our tireless commitment to excellence. We developed a system of procedures to serve agencies across the nation and helped them continue their operations without any interruptions. We’re devoted professionals ready to cater to your organization’s specific needs. That’s why we’re here to help, and we can do it in a remote setting.
As we bid farewell to 2020, let’s reflect on this past year with gratitude. Despite the number of unfortunate stories this year, a new year brings much promise and hope. At MHA, we’re ready to navigate 2021 with a thoughtful approach and serve with a relentless excellence.