Looking at GI Practice Management Differently: Fortify the Business of Healthcare in the GI Practice (On-Demand) | November 2021-Putting the Pieces Together: Analyzing What We Are Seeing to Build Better

Video Transcription

Video Summary

In this video, the speaker discusses the impact of COVID-19 on various aspects of GI practice. They begin by mentioning a benchmarking survey called the GI operations benchmarking survey, which collects data from GI units to analyze trends in operational and financial performance. The survey reveals that there was a significant interruption of services across the board due to COVID-19, with hospitals and academic institutions experiencing the highest extent of interruption. The data shows that it took several weeks for units to regain 100% capacity after the interruption. The speaker also mentions the increase in the cost of business due to factors like labor and supply chain issues. However, they emphasize that the adversity brought by COVID-19 has also created opportunities for improvement. They discuss the importance of planning, implementing, and analyzing the effects of change to build a better practice. The speaker suggests strategies such as measuring key performance indicators, retaining well-trained staff, streamlining processes, and exploring additional revenue-generating avenues like specialty pharmacy. They also highlight the role of technology, particularly telehealth, in adapting to the current situation and planning for the future. The video concludes by emphasizing the need for a backup plan and being prepared for potential future disruptions.

Asset Subtitle

Sufiyan H. Chaudhry, MD, MBA

Keywords

COVID-19 impact

GI practice

benchmarking survey

interruption of services

telehealth