Resources Mentioned in Today's Episode
Key Takeaways
The "No Normal"
- We don’t know what normal looks like.
- There will undoubtedly be profound changes in our society.
- We’re still in the midst of this, and it will take months or even years for the healthcare industry to feel like things are starting to normalize.
- To recover from the financial strain, we have to learn to live and thrive through this uncertainty.
- That’s why we created this podcast.
Five Principles for Success
- Make no assumptions.
- We can’t assume what we did in the past will work moving forward.
- Market research has a short shelf life (2-4 weeks).
- We’ve seen considerable shifts in just three months of surveying for clients.
- We’re living in a fluid environment.
- The industry will continue to change as we navigate through multiple waves of COVID-19, the seasonal flu, and the economic unrest we’re experiencing.
- We’re going to experience a fluid environment from now into 2021 or possibly even 2022.
- The market has essentially been on a sugar high, but now we are looking at even more layoffs in July when the CARES Act runs out.
- We have to be in a mindset of constant learning.
- Our decision-making process needs to be faster and feedback loops need to tighten.
- We have to be agile enough to learn through the waves of COVID-19.
- Let’s make decisions and adjust our course as we go.
- The old way of research and committees will leave you behind.
- There will be massive ripples – this isn’t just about COVID-19.
- We must be ready for the significant changes COVID-19 will bring on.
- There's been ten years of societal and digital advances in just a few months.
- We have to be comfortable in chaos.
- There’s an opportunity in this chaos to restructure the healthcare system around the consumer instead of the physician.
Five Issues for Providers in COVID-19 (download the full report here.)
- Maintaining a safe environment.
- Virtual care.
- Working capital solutions.
- The idea of physician-hospital integration.
- Reexamining scale.
