Talamo Topline v2.1: the Good, the Bad, the Ugly

This week on “The Talamo Topline” marks the final week of summer for us – my kids go back to school on Friday (woohoo!). It’s been an interesting one, full of ups and downs as most summers are, while giving us the time to refine and align before the start of the “new year.” In some parts of healthcare and media, some would call this “selling season” ramping into the planning of the new year – just a few months behind the start of the school year. Just like I tell my kids in looking at this new school year, we should take some time to reflect on the on the outlook of the current/past year. ?

So kick-start this issue of the TTL, I want to revisit a report published by PwC in January on Health Services. How many of these predictions came true? And if they didn’t (yet), how are you setting yourself up for when they do?

I hope you enjoy this week’s eNewsletter. I’d love to hear what you think, along with how we may be able to work together -- find me on Calendly or send me a note. Looking forward to it!

PS – I have to mention a Special Shout-Out for this year’s 2nd Annual MJH Life Sciences golf outing, hosted here in Central NJ, with proceeds to benefit the Mike & Patti Hennessy Foundation . If you are interested in playing on September 25, let me know! We would love to have you.

Chart of the Week

?

This research does not predict aggregated future employment levels; instead, (we) model various drivers of labor demand to look at how the mix of jobs might change—and those results yield some gains and some losses. In fact, the occupational categories most exposed to generative AI could continue to add jobs through 2030 (See Chart), although its adoption may slow their rate of growth.

The largest future job gains are expected to be in healthcare, an industry that already has an imbalance, with 1.9 million unfilled openings as of April 2023. We estimate that there could be demand for 3.5 million more jobs for health aides, health technicians, and wellness workers, plus an additional two million healthcare professionals.

The Headlines

• PwC: Revisiting the January 2023 Report, Mid-Year: Next in Health Services 2023: Revisiting an early 2023 report by PwC for new perspective: PwC research shows we’re in the middle of a five-year, $1 trillion revenue shift away from traditional healthcare payers and providers. By 2030, we expect the sector to move into a new health ecosystem. We believe the greatest potential lies in embracing new roles as orchestrators, integrators, and platform and solutions players in the health ecosystem.
• The Motley Fool: Older Americans Are Putting Off Healthcare Because of Financial Constraints: Compounding the problem of rising healthcare costs is that many seniors live on a fixed income that consists largely (or in some cases, solely) of Social Security. So when these healthcare costs start to rise, seniors are often forced to make sacrifices. New data, however, reveals that seniors may be sacrificing their own health by putting off medical care because of a lack of funds.
• Forbes: American Healthcare: The Good, The Bad, The Ugly, The Future: From Robert Pearl, M.D.: In looking at the three lists, I’m reminded of a baseball slugger who can occasionally hit awe-inspiring home runs but strikes out most of the time. The crowd may love the big hitter and celebrate the long ball, but in both baseball and healthcare, failing at the basics consistently results in more losses than wins.

From our MJH Life Sciences Network

• Medical Economics: Cyberattacks on Health Care Grow in Number Even as More Leaders, Staff Gain Awareness: As of Aug. 15, health-related entities reported 388 incidents – 153 more than the same time in 2022 – involving more than 60 million people, Thompson said. He cited records from the U.S. Department of Health and Human Services’ Office of Civil Rights (HHS-OCR), which tracks breaches of unsecured protected health information involving at least 500 patients.
• OncLive: Emerging Uses for Circulating Tumor Cell Technology: Detection of circulating tumor cells, which are released from primary or metastatic lesions into the bloodstream and are the “seeds” for distant metastatic lesions, has been of interest in cancer research and treatment because these cells can potentially provide information on cancer detection, prognosis, and likelihood of treatment response with minimally invasive methods.
• Ophthalmology Times: Is Office-Based Surgery a Harbinger of Things to Come for Ophthalmology?: Although cataract surgery was once a hospital-based procedure, 86% of cataract surgeries are now performed on an outpatient basis. Trends such as this suggest a shift to office-based surgery (OBS) as the new normal for lens-based procedures.

AI in Healthcare, also from our MJH Life Sciences Network

• AJMC: How AI and Machine Learning Can Bring Quality Improvements in Biopharma: The upfront investment needed to make artificial intelligence (AI) and machine learning (ML) viable in the pharmaceutical sector will be worth it.
• HCPLive: Artificial Intelligence Chatbot Provides Appropriate Ophthalmic Advice, Study Finds: Performing a cross-sectional analysis of human-written and AI-based responses to 200 eye care questions, an investigative team from Stanford University found an AI chatbot generated appropriate answers that did not differ significantly from ophthalmologists in terms of incorrect information and the likelihood of harm.

On the Hill

• The Hill: Biden to Request Funds for Another COVID Vaccine Amid Rising Cases: “I signed off this morning on a proposal we have to present to the Congress a request for additional funding for a new vaccine that is necessary, that works,” Biden, who is vacationing in the Lake Tahoe area, told reporters. “It will likely be recommended that everybody get it no matter whether they’ve gotten it before or not,” he added. ?The announcement comes alongside a recent rise in COVID-19 cases in some regions.

Productivity, Positivity, and Mindset

• Forbes: Leadership Insights: Navigating The Science Of Failing Well, From Psychological Safety To "The Right Kind Of Wrong": In the ever-evolving realm of modern leadership, where traditional paradigms are challenged by a dynamic world, the concept of psychological safety emerges as a beacon of wisdom. As the corporate landscape shifts, leaders stand to gain profound insights from Harvard Business School Professor Amy C. Edmondson's groundbreaking work, which includes her forthcoming book "The Right Kind of Wrong: the science of failing well ." Within this evolving landscape, where remote work and work-life balance take center stage, the significance of psychological safety becomes more pronounced than ever before.

?

I hope you enjoyed this week's eNewsletter! If you would like to subscribe via email, please send me your info over LinkedIn message or drop me a note!

Phil Talamo

Senior Vice President | Mergers & Acquisitions, Strategic Innovation

[email protected]

?

?

?