Description

Resources  

• For-profit hospitals saw volumes rebound in Q2, but delta variant poses a threat  
• Kaufman report shows hospital volume recovery is shakey  
• Jefferies lowers medtech outlooks as hospitals project delta pressure into Q4  
• Alabama man dies after being turned away from 43 hospitals amid COVID-19 surge

Takeaways  

The last COVID-19 show  

• Even though we are still navigating COVID-19 and The No Normal, we’re moving away from COVID-19 being the sole focus of the show and transitioning into new, forward-thinking discussion topics.  
• This episode is our final COVID-19 focused show, so we recap the past 18 months, it’s unexpected changes, and projections for the future.  

Lasting changes for health systems  

• With a shortage of physicians, increasing responsibility to help with vaccine communications, and widespread burnout, health systems continue to face staffing shortages.   
• In combination with the emerging competition for skilled workers, these shortages are putting workers in the place of power. We could see this power impact wages, health systems’ competitive standings, and even the ability to stay open.   
• The unknown has extended much longer than many expected, begging the question: are annual marketing strategies irrelevant? While there still may be a time and place for long-term strategies, what they look like may change in the future to be more responsive to change.   
• Our life spheres are becoming smaller as new technologies make it easier to receive personalized products and services without leaving home. To maintain engagement, brands – inside and outside of healthcare – need to invest in personalized marketing.   

How the COVID-19 era surprised us  

• The pandemic gave our industry a wake-up call that many industries don’t receive. While we were caught flat-footed, these deficits have surfaced as an opportunity to regain footing and thrive in the future.  
• Ownership over the patient relationship has changed as organizations from outside of healthcare compete for top-of-funnel services.  
• Because these outside players have the first interaction, they get to define what comes next – including the partners they want to send business to for higher-value services. This change restricts health systems’ ability to control service line volumes.   
• The pandemic became politicized much faster than expected. Events like WWII and 9/11 unified our country for a long time before becoming divisive, so it was surprising that the pandemic had different results. The proximity of the election to the pandemic could be part of this politicization.  
• This polarized environment emphasizes that humans are not always rational. We have to understand how to motivate people beyond logic to become the healthiest they can be.