How Restaurants Can Build Rapport With Inflation Relief
Inflation is hitting us at the gas pump, the grocery store aisle, healthcare, and, unfortunately, the restaurant bill.? Barbara Jarvie Castiglia ?of?Modern Restaurant Management Group?explores the price changes that restaurants are discussing and some breaks going to the customers. Castiglia said, “it’s a fever pitch right now. More people want to go out, eat, and travel, but according to the?Alignable?Small Business Report, ‘50% of independent restaurant owners feel at risk. They feel they aren’t going to make enough now to stay afloat in the fall.’”
Restaurant owners understand the constraints their guests are feeling. They’re customers, too. When menus increase prices on appetizers and desserts, it changes the decision process for what people order. The price hikes are “making people choose what they’re going to eat,” said Castiglia. The alternative, and preferable way, is to order what sounds appetizing.
National Menu Hikes
The?National Restaurant Association ?reported on dining prices between June 2021 and June 2022. The article stated, “According to data from the Bureau of Labor Statistics. Average menu prices increased 7.7% between June 2021 and June 2022.” 7.7% is the most significant increase in restaurant pricing since 1981.
Restaurant price hikes are a multifaceted issue. Increasing supply and labor costs are significant factors, which increased by 15.6% and 10.1%, respectively. Across the nation, menu price increases vary from 7.1% to 8.1%.
For more on how restaurants can ease inflation concerns for consumers, visit the full article on MarketScale.
Private Health Insurers Must Evaluate Public Health Data
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Is it in?health ?insurance providers’ best interest to continue offering free COVID-19 test kits after it’s no longer mandated??Clearsurance.com ?health insurance expert,?Melanie Musson , explores the need for data, evaluation, and making the best decision based on facts.
COVID-19 Public Health Emergency
In April 2022, the COVID-19 Public Health Emergency (PHE) was extended for 90 days, which expires around mid-July.
Georgetown University Health Policy Institute shared that the Biden administration has previously advised that they will give?60 days’ notice ?before the PHE expires. So, since there hasn’t been a notification, it’s expected that the administration will extend the PHE.
In January of 2022, the Health and Human Services Department announced that the Biden-Harris administration requires health insurance providers to cover the cost of at-home COVID-19 testing kits.
Even though it appears that health insurance providers will continue to be required to cover certain COVID-19 services like free testing kits in the short term, in the long term, the Public Health Emergency will end. So, insurance providers must weigh the benefits of continuing previously mandated coverages.
Click here to get Melanie's full insights on the story.
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