During this time of working from home due to COVID-19, our Scioto Properties team is listening and learning from various webinars. We would like to share the highlights from the webinars; so that you can be informed of ideas and best practices to consider for your organization, what the future after COVID-19 may bring, and how you can be prepared for the changes.
Webinar Summary
Value Based Care for Behavioral Health powered by CareLogic | The Effects Of The Economic Crisis Created By The Pandemic | Webinar held on April 21, 2020
Navigating the New Normal With COVID-19: 12 Essential Actions Executives Need To Take Right Now. The host was Open Minds CEO, Monica Oss and one of the panelists was the Jon Wolf, the CEO of Pyramid Healthcare.
Key takeaways:
- The advantage will go to financially strong organizations.
- Credit will be hard to come by.
- Virtual is the new normal. There is a need to determine what really needs to be done face to face.
- Intrastate license compacts will survive.
- Substitution of new technologies for traditional services.
- There will be aggressive new competition from existing health and human service organizations.
- There will be new “out of industry” competitors.
- Economies of scale will prevail.
- New competition will drive the need for capital.
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5 Stages of a Crisis:
- Discovery and sense-making (we are still in this stage).
- Crisis planning and response.
- Recovery strategy.
- Post recovery strategy.
- Reflection and learning.
12 Essentials for Executives:
- Look ahead and constantly reframe efforts.
- Use an adaptive bottom-up approach to complement top-down efforts (more interaction/more communication).
- Provide very specific operational guidelines and procedures for employees to follow.
- Proactively create clarity and security for employees - keeping employees safe and employed should be priorities.
- Use social media to coordinate team members and stakeholders (LinkedIn/Zoom, for example, don’t assume all stakeholders are comfortable).
- Shift sales channel mix (in a crisis, communication channels are interrupted; increase investment in virtual communication and advertising channels).
- Spot new consumption habits being formed (virtual approaches to health care/home delivery).
- Look for new opportunities amid adversity (reduction in regulations; new partnerships; streamlined operations).
- Rapidly innovate around new needs (emergencies bring unexpected customer needs; are new opportunities “one time” or replicable; geographical boundaries may be eliminated with telehealth/virtual services.
- Prepare for faster recovery then you expect.
- Adapt your recovery strategy by location (not all areas will recover at the same pace; recovery will be shaped by state policies and budgets).
- Expect different recovery speeds for different sectors of the health and human service field; specialty niches will be most affected).
Download the presentation. Membership required.
National Investment Center for Seniors Housing & Care (NIC): The Intersection of Operators and the Financial Community in a COVID-19 Environment | Webinar held Thursday, April 9, 2020
The National Investment Center for Seniors Housing & Care (NIC) held a webinar to discuss the current environment in independent living, assisted living, memory care, and skilled nursing facilities.
Key Takeaways:
- Many operators are reporting a decrease in move-ins at independent and assisted living facilities, though move-outs have been mostly unchanged.
- It is predicted that skilled nursing facilities may not be as impacted as assisted living and memory care. Employees are trained to handle communicable diseases and protocols are already in place.
- In a post-COVID-19 world, the operators who prove they protected their employees during the pandemic will be the ones who attract the highest caliber individuals who might be looking for new employment.
- Committed private equity will likely not shy away from this sector, but firms that were dipping their toes might rethink their investment strategy
Download the presentation. Webinar Recap.
Open Minds Crisis Management Executive Blueprint For Crisis Management: Building Resiliency In The Face Of Adversity | Webinar held April 7, 2020
How do you increase organizational resilience and assure sustainability after the disruption caused by COVID-19?
Key Takeaways:
- Not all organizations will survive this crisis.
- Credit and financing will be tough to come by and creditors are cautious.
- Focus on, and target your most valuable customers.
- There will be an increase in mergers and acquisitions. You will have to determine if you are a buyer or a seller.
- Cash management and cash flow are vital for business survival.
- Identify organizations for urgent collaborations.
- How do you get more cash? Banks are canceling lines of credit and you may have to consider selling your real estate to raise cash.
- Data is key. Be prepared to revise your plan accordingly.
Download the presentation. Membership required.
On-Demand Webinars
The following are various On-Demand webinars you can listen to now. We have included their Twitter and Linkedin links - where applicable.
Reflecting on HCBS Policies and Practices in Response to CV19 - Health Management Associates | Webinar held on April 17, 2020
Medicaid-covered home and community-based services (HCBS) are critical to the health and well-being of millions of individuals with intellectual or developmental disabilities, physical disabilities, and/or behavioral health conditions.
In response to COVID-19, the Centers for Medicare and Medicaid Services (CMS) has provided state Medicaid programs with increased flexibility to modify HCBS programs to continue to provide timely high-quality care. State Medicaid programs have secured approval for new initiatives through a combination of Section 1135 Waivers, 1115 Emergency Amendments, Emergency State Plan Amendments, and Appendix K amendments to HCBS 1915(c) waivers.
During this webinar, the experts at Health Management Associates outlined what these changes mean for states, providers, and individuals who rely on HCBS. Speakers provided an overview of key flexibilities, offered examples of promising practices, and shared insights about the present and the future of HCBS as reshaped by COVID-19.
View the webinar.
COVID-19 And Long-Term Care Providers: Where are we now? Relias Skilled nursing facilities and other long-term care providers are having to remain diligent to prevent the virus from making it into their organization.
- Where are we now with COVID-19?
- How is COVID-19 impacting long-term care providers?
- What are some tools and best practices your organization can leverage to stay ahead of the virus?
- CMS has announced its new targeted plan for facility inspection. What do you need to know and how should you prepare?
Take a look at the various resources that may be informative to providers about COVID-19.