What healthcare can learn from the retail apocalypse

By: Dr.Mansoor Khan   The retail industry is going thru what can rightly be called an apocalypse. Almost 7,000 retail outlets shut down in the US in 2017! In the meanwhile, these retailers opened almost 1,500 new stores!
  • Dollar General: 900
  • Dollar Tree: 320
  • Aldi: 180
  • Target: 35
  • Walmart: 25
  • Costco: 3
This is true across all major retail verticals from home goods to grocery to fashion (source: CBInsights). With the recent seismic shifts in the healthcare industry, we anticipate that this sector will also face a similar shift in the not too distant future. So what do we do about it? As the retail success stories illustrate and as we started to talk about in the last blog, the answer lies in giving the customer what they want. Healthcare, fortunately, has a big advantage; 88% of patients give their ... read more

Patient Engagement – the Urgent Care killer?

By Dr. Mansoor Khan Last month, we started looking at the impact of Urgent Care centers on physician practices. I only started there because a news article had caught my eye. There are, however, multiple other reasons for the steadily declining revenues and squeezing profit margins of physicians. These include payer payment transformation and value-based purchasing initiatives, patient demand for more convenient care delivery modalities, quality incentives/penalties, unfilled practice calendars (27% of available slots go unfilled), losing patients to competitors, to name a few. The response to these conditions however, can’t be more of the same (remember what Einstein said, no not “The hardest thing to understand in the world is the income tax”, though he did say that, but rather “We can't solve problems by using the same kind of thinking we used when we created them.”). So, to survive and thrive practices ... read more

The Evolution of Patient Engagement and Chronic Care Management

Patient and Clinician By Fauzia Khan, MD, FCAP
As the healthcare industry continues a positive shift toward value-based care and away from the fee-for-service model, payers and providers are starting to look at patient engagement and managing chronic conditions very differently. Previously, disease management was measured more by associated cost such as procedures ordered, in-patient stays and re-admissions, and patient engagement typically consisted of generalized letters that described their disease and standard therapies. These letters were a one-way communication and hardly fulfilled the notion of “engagement.” There have been great strides made recently in developing patient-centric, IT solutions such as electronic health records, ... read more