The turbulent year of 2020 is finally behind us. It has indeed been a trying time for us all, both personally and professionally. As we move into the new year, there’s considerable hope that the availability of COVID-19 vaccines will bring an end to the pandemic and a return to some form of normalcy.
Healthcare has faced extreme challenges as the pandemic brought to light weaknesses within the system. I envision 2021 as a year that will be defined by recovery in healthcare — a recovery fueled by health technology.
The pandemic has accelerated a digital transformation throughout the industry. As healthcare providers navigate their way out of the pandemic, there are three major trends they will need to confront: consumerism, operating margin pressure, and cybersecurity threats. …
Finding gratitude in the middle of a pandemic that has brought upheaval, uncertainty, and a trail of grief throughout our country and the world can be daunting.
I looked back on my “Reflections on Gratitude for 2019” post, and it struck me how much has changed in just a year. While I’m still very grateful for HealthPay24’s partnerships — they’ve kept us going strong through this challenging year — I find my sense of gratitude for 2020 extends outward, beyond the core of the business.
As I pondered what I’m thankful for in 2020, I realized that many of the things we have previously taken for granted are what are fortifying us now. And even during a year that has profoundly altered our lives, I have much to be grateful for. …
In less than two months, hospitals across the U.S. will be required to make their price information publicly available, including the specific reimbursement and payment rates they have with third-party payers.
Despite significant pushback from the hospital industry on the proposed price transparency rule published in July 2019, the rule was finalized last November with most of the requirements as proposed. At the time, the Centers for Medicare & Medicaid Services (CMS) pushed the effective date to January 1, 2021 to give hospitals more time to implement the requirements.
While it’s true that complying with the new rule is going to take up time and money, this mandate for price transparency is more than just a call for hospitals to openly share price information. It represents an opportunity to better serve consumers and create stronger brands while building trust and loyalty, which is more important than ever amid the uncertainty of the COVID-19 public health emergency. …
With public health experts predicting a second wave of COVID-19 this fall or winter, we can use lessons learned from the first surge to plan more strategically for another potential outbreak.
The pandemic has highlighted how gaps in technology and communication can jeopardize patient and staff safety as well as business sustainability. Cultivating trust and acting with empathy are more important than ever.
While there is still uncertainty in how the health crisis will play out, we are much wiser this time around and can take what we’ve learned to be better prepared, more proactive and tackle the challenges head on. …
Recently, during a demo of newly available product options and analytics, the client exclaimed, “Wow, this is literally an unmatched pace of innovation!” For a Health IT company, this is the ultimate compliment.
This exchange got me to reflecting on what exactly it takes to drive change — not just incremental, but meaningful change. Change that translates into transformative innovation.
Companies regularly face complex problems that demand solutions to build a competitive advantage in a constantly changing marketplace. Innovation is central to any business’ sustainability.
In ordinary times, it’s not unusual for meaningful change to occur in fits and starts. But these are no ordinary times. An international health crisis has accelerated innovation. …
When patients are treated as true partners in their healthcare journey, they are empowered to participate in shared decision making with their providers, make informed decisions about their medical care, and have a greater say in the quality of their day-to-day life.
Evidence consistently shows that supporting patients to be involved in their own care improves outcomes, enhances patient experience, and can reduce healthcare costs. Over the last two decades, health systems have implemented numerous initiatives to achieve this Triple Aim and drive value-based care.
Many of these efforts included employing health IT systems and tools to encourage patients to actively participate in their treatment process. However, when the COVID-19 pandemic hit, many health organizations quickly realized there were gaps in their patient engagement processes. …
“The pandemic represents a rare but narrow window of opportunity to reflect, reimagine, and reset our world.” Klaus Schwab — Founder and Executive Chairman, World Economic Forum
COVID-19 is causing one of the worst public health crises in recent history. And as the disease persists, it is now apparent that the pandemic will have profound long-term effects on human well being, economic growth, employment, and even social equality.
In the midst of the upheaval, business leaders have a choice. They can cling to the workplace as it was or embrace a better, more innovative work environment. While many companies miss out on creative opportunities when confronted with a crisis, others adapt to change and use it as a catalyst for innovation. …
Customer experience is at the center of every organization’s survival. In the healthcare industry, positive experiences influence 78% of purchasing decisions. Truly understanding what your customers care most about and addressing both their acute and long-term needs with a superior experience are without question the most powerful ways to stand out in a competitive marketplace.
In just several months-time, the COVID-19 pandemic has upended the lives and livelihoods of millions. This unprecedented healthcare crisis is not only changing the business of healthcare but will likely have a permanent impact on the expectations of patients.
As we move through and beyond this challenging time, the customer experience mindset will require a rethinking of priorities and reorientation of strategies. Keeping a real-time pulse on changing consumer preferences and adapting the customer journey accordingly are what it will take to build strong, enduring relationships. Three customer experience practices should take the forefront: walking the talk, being empathetic, and establishing a sense of community. …
As the Covid-19 pandemic continues to unfold, it is sending shockwaves throughout society and within every industry. Everything that was once familiar seems to be changing at lightning speed, and tomorrow seems to be more uncertain than ever.
What has become very clear: the economic and human impact of this virus is (and will be) substantial. It’s an all-hands-on-deck effort to protect lives and livelihoods. Healthcare systems are scrambling to manage unprecedented patient care demands and disruptions. Governments and other organizations are stepping up to provide economic relief and access to life-sustaining goods and services.
We are all witnessing a swift and dramatic shift to what many are calling the “new normal.” Going contactless is suddenly in vogue. From curbside food pick-up to virtual meetings to cashless transactions, the virus has not only changed how we interact with one another but also our perception of what it means to be safe. …
As each of us navigates through the rapidly unfolding events surrounding the novel coronavirus crisis, we are dealing with much uncertainty and fear. Healthcare systems, public health officials and political leaders are working hard to contain and mitigate COVID-19. And companies, large and small, are grappling with the potential economic fallout.
In February, I wrote about how to foster meaningful innovation. It’s surreal to think about how much has changed in a months’ time. And while those principles still apply today, company leaders can adapt their approach to successfully guide leadership teams and employees through this rough terrain.
Throughout history, there have been many examples of innovative thinking borne from critical circumstances. Now, more than ever is the time for leaders in industries across the board to inspire creativity amongst their employees and throughout communities. From developing a new vaccine and opening supply chains to finding new ways to educate children and disseminate needed products and services, creative problem solving is needed in every sector of society. …
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