This edition is brought to you by The Last Invention

Good morning to all new and old readers! Here is your Saturday edition of Faster Than Normal, exploring the stories, ideas, and frameworks of the world’s most prolific people and companies—and how you can apply them to build businesses, wealth, and the most important asset of all: yourself. 

Today, we’re covering April Anthony and her journey to turning setbacks into a $750 million home healthcare empire..

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What you’ll learn:

• How did April Anthony overcome setbacks

• Lessons on embracing accidental opportunities, turn setbacks into catalysts and get your hands dirty

Cheers,

Alex

P.S. Send me feedback on how we can improve. We want to be worthy of your time. I respond to every email.

April Anthony

April Anthony was born and raised in Texas. She never planned to be an entrepreneur. She simply wanted a family-friendly job after leaving her position at PricewaterhouseCoopers.

"I had no business owning a business at 25," Anthony admits. "But I knew from that time forward that this is what God was calling for me."

Her entry into healthcare was accidental. She took a controller position at a company that owned four businesses, including a struggling home health agency. When her boss asked for her opinion, she didn't mince words.

"This is going to get worse," she told him.

Little did she know that this frank assessment would set her on a path to building a healthcare empire.

Anthony's first real test came when she was fired while giving birth to her second child. A termination letter arrived at her home fax machine during her scheduled C-section. Most would have been devastated. Not Anthony.

"It turned out to be the best day of my career," she says.

This setback became the catalyst for founding Encompass Home Health & Hospice. Starting small, Anthony acquired failing agencies and turned them around. Her strategy? Fire all but two office staffers and handle most of the work herself.

Tough. But effective.

Within a year, she'd transformed losses into profits and paid back her loans. Her salary? A modest $10,000.

Anthony's approach was hands-on. She went on home visits with health aides to understand patient care intimately. This knowledge allowed her to reduce treatment costs to 25% below Medicare reimbursement rates.

Building Encompass wasn't easy. The home healthcare industry was in turmoil. Medicare reimbursement caps and regulatory changes wiped out nearly a third of providers. Anthony not only survived - she thrived.

Her secret? Culture.

"If we can create a better way to care for our team members, you will deliver that to our patients," she tells employees. "And they will tell their neighbors and friends and their referral sources."

This focus on employee satisfaction translated into business success. Encompass boasts a 15% turnover rate in an industry where 30%+ is typical.

Anthony's journey reached its pinnacle in 2014 when she sold Encompass to HealthSouth for $750 million. But she wasn't done. She stayed on as CEO, continuing to grow the business.

By 2020, Encompass had become the country's fourth-largest Medicare-approved provider of home healthcare. Anthony's personal fortune? An estimated $700 million.

The COVID-19 pandemic presented new challenges. Anthony worked overtime to keep her 8,000+ nurses and therapists safe while caring for 40,000 high-risk patients.

"I spend my drive to the office praying," she says, her voice breaking.

Anthony's story isn't just about financial success. It's about creating value in a difficult industry. It's about perseverance in the face of setbacks. And it's about building a culture that puts people first.

Her advice to aspiring entrepreneurs?

"I believe in my heart the promise of Jeremiah 29:11, that God is here to prosper us, not to harm us, and to give us hope and a future," she says.

Lessons

Lesson 1: Embrace accidental opportunities. April Anthony didn't plan to be a healthcare entrepreneur. She stumbled into it when her boss asked for her opinion on a struggling home health agency. Her frank assessment - "This is going to get worse" - set her on a path to building a healthcare empire. Sometimes, the best opportunities aren't the ones you seek out, but the ones that find you.

Lesson 2: Turn setbacks into catalysts. When Anthony was fired while giving birth to her second child, she didn't wallow in self-pity. Instead, she saw it as an opportunity. "It turned out to be the best day of my career," she says. This setback became the catalyst for founding Encompass Home Health & Hospice. Look for the silver lining in your failures. They might just be the push you need to start something great.

Lesson 3: Get your hands dirty. Anthony didn't just manage from afar. She went on home visits with health aides to understand patient care intimately. This hands-on approach allowed her to reduce treatment costs to 25% below Medicare reimbursement rates. Don't be afraid to dive deep into the nitty-gritty of your business. The insights you gain can give you a significant competitive edge.

Lesson 4: Culture is your secret weapon. In an industry plagued by high turnover, Anthony focused on creating a culture that cares for employees. "If we can create a better way to care for our team members, you will deliver that to our patients," she tells employees. This approach led to a 15% turnover rate in an industry where 30%+ is typical. Your company culture isn't just about feel-good moments - it's a powerful business tool.

Lesson 5: Scale strategically. Anthony's approach to scaling VitalCaring Group is methodical. "Don't expect us to buy a little dab [of the market] in Virginia or a little dab in Utah," she explains. "We may start with a small acquisition in Virginia, but we would build out around that." Focus on dominating specific markets rather than spreading yourself thin.

When Machines Begin to Think

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That’s all for today, folks. As always, please give me your feedback. Which section is your favourite? What do you want to see more or less of? Other suggestions? Please let me know.

Have a wonderful rest of week, all.

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