With the political landscape littered with fantasy health care solutions based on financial models no one can validate, it is no wonder the American public has no faith in Washington's ability to run a business. The undoing of AIG, GM, and others provoked similar concern about the private sector. But as we look at these times through the lens of many of our clients, we see hope and opportunity.

There is a line from a Kenny Chesney song that goes, "Everyone wants to go to heaven, but no one wants to go now." That seems to sum up where many people are right now—everybody is hoping things will get better, but few are willing to make the tough calls. Health care is expensive and made up of a complex delivery model. We have to change our current financial and delivery models to provide health care for everyone and not go into debt for future generations. People are unwilling to change, and those running the show lack the expertise to deliver the needed fundamental change. And raising taxes is about as creative a solution to the financial challenges of universal health care as the approach taken by the companies that think that trimming travel expenses, mailing costs, and a few positions is the way to financial stability.

Preparing for growth in an expanding health care system while reducing costs is a challenge—one similar to that facing the financial services sector. Use this as an opportunity to look at redesigning your service delivery model and reducing expenses simultaneously. It can be done! While some companies are responding by simply slashing expenses, others are attacking both the revenue and expense sides of the equation. When we talk with our clients about improving their service, reducing their expenses, and growing their market share, we emphasize a focus on new, innovative ways to replace what is outdated, unnecessary, or can be improved with technology.

The winning companies are concentrating on being the best in their core markets and shedding unprofitable lines and services. In customer service, they are developing new, creative, high-quality solutions. Stripping away redundant infrastructure and excess management and focusing on core processing is the path to profitable growth. It is all about People, Process, and Technology working together for a brighter future. Now is the time to prepare for the next boom.

This annual study yields more than 1,000 unique performance ratios for participating banks and credit unions. Each performance factor is compared to the benchmark (top quartile), median, and average of all participants by size of organization.

You can register early to participate by calling our offie in Dallas at (800) 248-3742. Further details will be outlined in the first-quarter 2010 Nolan Newsletter.

More Information on the Bank Performance Study

The Robert E. Nolan Company announces the release of a new report containing research and original articles on the topic of service improvement and differentiation.

In the financial services arena, service excellence has proven to be the dominant market differentiator. Strong, sustainable relationships with customers and agents are essential for long-term success. This new report from the Nolan Company provides a diverse, real-world perspective on this complex topic.

Request the Nolan Service Differentiation Report