The corporate reorganization survey: management indicates satisfaction.

Discussion of and literature about corporate restructuring abound, but little data is available. For those currently considering or in the process of restructuring the problems encountered by respondents in this survey can be educational. The purpose of this survey was to provide solid data about corporate restructuring among home health providers. The methodology used was a telephone survey of a random sample of free-standing home health agencies selected from a HCFA listing of more than 5,000 home health agencies. Two hundred and fifty-seven agencies were selected, and information was obtained from 198 such agencies. A total of 108 agencies with complete data were available for analysis. Sixty-four percent of the responding agencies had actually completed or were involved in the process of corporate or were involved in the process of corporate restructuring. The Northeast appeared to have the highest level of restructuring activity, and agencies with annual budgets of $3 million or greater were pursuing corporate restructuring at a high rate. Respondents described the process of restructuring as taking longer than anticipated, with heavy emphasis on board involvement and planning prior to the actual decision to restructure. The benefit of restructuring anticipated and realized most often by respondents was greater flexibility to compete more effectively as well as the opportunity to joint venture. In spite of the complex process of restructuring and difficulties encountered, overall satisfaction with the results of corporate restructuring was high.