In business, resiliency measures a company’s ability to weather each of the three stages of dislocation: the shock of initial crisis, the fight for stabilization, and the transition to normalization. For not-for-profit hospitals and health systems, the COVID-19 pandemic represents an unprecedented assault on the core business model. The industry successfully responded to the first wave but looking forward, potentially sustained shifts in volumes, the costs of changes in care delivery, and uncertainties around the fiscal health of employers, state governments, and consumers all suggest the potential for additional albeit less violent disruption; we are out of the crisis stage, but normalization is not yet in sight.
This article was published in the February 2021 issue of System Focus, A Monthly Governance Institute Newsletter
