More than 56 percent of 158 healthcare business insiders surveyed late last week say Wall StreetÂ™s financial crisis will slow down, but not harm the business of healthcare. In fact, almost 70 percent say the current economic crisis presents opportunities galore.
The survey was conducted by Jarrard Phillips Cate & Hancock Inc., a Nashville-based healthcare public affairs firm, to quickly gauge the industryÂ™s concern regarding Wall StreetÂ™s dramatic crash last week. The survey participants are hospital and healthcare business leaders and industry advisors who read the firmÂ™s newsletter, Inside Baseball. The full results are available at www.jarrardinc.com.
When asked what the crisis means for their organizations, the survey participants were evenly split: 44 percent said itÂ™s full steam ahead-letÂ™s buy somebody!, while 43 percent said itÂ™s time to burn the midnight oil and focus on same store sales.
The responses reflect the entrepreneurial spirit of NashvilleÂ™s healthcare industry, said David Jarrard, the firmÂ™s president.
As of late last week, those who best know the business of healthcare were largely optimistic despite the financial news, and said they are pursuing opportunities for growth. Those attitudes may change as events on Wall Street unfold, but for now, there is a sense of opportunity.
Bailout? The participants had strong opinions regarding the recent government bailouts of financial giants as Fannie Mae and AIG. The majority agreed that the bailouts were necessary, but 46 percent felt that the government should not bail out any more organizations, and 43 percent said the government should have no involvement at all, calling for survival of the fittest!
Best leader to fix it? When asked who could fix the problem best, 39.4 percent chose the free market, 24.6 percent chose Senator John McCain and a mere 9.9 percent opted for Senator Barack Obama.
How long until the economy recovers? 55 percent said it would take at least a year.
Best course of action? 39 percent say buy. Only 1.3 percent say sell. Twenty-two percent say stay. And, 36 percent say drink.
Jarrard Phillips Cate & Hancock Inc. is a national healthcare public affairs firm singularly focused on helping leaders of hospitals and healthcare organizations navigate communications challenges during times of significant change or extraordinary opportunity.Â For more information Â“ and full survey results Â“ visit www.jarrardinc.com.
Jarrard Phillips Cate & Hancock Inc.
Carlie Crenshaw, 615-254-0575