What doesn’t stop or even slow down during an recession? Depreciation. Regardless of what we hear on TV in regard to the slowing economy, depreciation still continues. Car breaks and tires ware out, computers break, even educations depreciate as new innovations develop and new skills are required; and yes, even parts of people fall into disrepair and need mending.
The January manufacturers inventory index declined at 0.7% on top of an adjusted 1.5% in December. In healthcare this is more of a challenge in that we don’t “inventory” procedures, this is good news and bad. In healthcare services are both produced and consumed at the same time. Replacing some of these parts can occasionally be delayed, but not forever. Consider replacing an Aortic Valve, delaying that procedure has consequences, often more expensive. The challenge hospitals and some industries face, is that there are no “inventories” upon which to depend as a cushion when needs abruptly change. In healthcare one is limited in the ability to quickly “tool up” to meet clinical needs
Hospital’s and healthcare systems, need to be focusing on the fiew out the windshield and prepair accordingly. This is no time to deprive ones self the talent required to meet demands that can improve so very quickly. It’s time to turn positive
Tom
