Horizons Spring/Summer 2021

Long-Term Care The pandemic hit long-term care (LTC) facilities early and hard. As of April 15, 2021, there have been an estimated 182,000 COVID-19 deaths in the U.S. among residents and staff of LTC facilities. Going forward, it is only natural that seniors may be wary of entering long-term care facilities. Facilities may face pressure to provide increased compensation to its staff. And, the government will likely be under pressure to further regulate the industry. All of this means increased costs and potential pressure on top line revenue. To survive, long-term care facilities will need to demonstrate to a wary public, their commitment to the health of their residents. Facilities may also further embrace the trends toward in-home care, perhaps by partnering with physicians and home health agencies. Make no mistake, the population is still aging, and senior living services will continue to be in demand. Acknowledging the challenges and facing them head-on will give facilities the best chance of thriving in a post- pandemic world.

Behavioral Health The pandemic has led to a sharp increase in mental health awareness and those seeking help. Behavioral health is a big part of the previously mentioned growth in telehealth. Many people who may not have been comfortable walking into a therapist’s office are able to get care via smart phones or other internet-connected devices. Public awareness of mental illness has also increased, perhaps with a lessening of the associated stigma. These factors, and others, will lead to increased individuals seeking help. By embracing technology and documenting improved clinical outcomes, behavioral health providers will be well positioned for the future. Government Funding and Regulation The debate over the extent of government involvement in healthcare has been raging in the U.S. for decades. No matter where you land on this issue, no one can deny the money the federal government put into the system this past year: Provider relief funds alone were $178 billion, and PPP “loans” (effectively grants) to healthcare providers were another $68 billion.

Five Ways COVID-19 Has Changed Healthcare

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