COVID-19 Updates

The No Normal Show - Episode 1

 

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.

  1. Maintaining a safe environment. 
  2. Virtual care. 
  3. Working capital solutions. 
  4. The idea of physician-hospital integration. 
  5. Reexamining scale.