ADAM: Hey guys, welcome to Prescriptions for Growth. I'm Adam Peebles, the SVP of Growth for Trilliant Health. Joined by my cohost Jason Nardella, VP of Data Intelligence.
So, Jason, we get a lot of questions from our partners, both national, regional, local asking about real estate opportunities. And so, we're seeing different questions come in from different health systems, different market dynamics going on. So, is this a time that hospitals need to be thinking about their footprint? About M&A opportunities? Or do they need to be coveting and holding those dollars and sitting on that waiting to deploy those resources at a later point?
JASON: I'll lean back on something that I learned a lot in school and being sort of the CFO at a health system and cash is king. In times of uncertainty, it is really, really important to have that reserve and be able to float through the turbulent waters to get to the other side of it. That being said, keeping your eyes on the market and understanding where you might want to put assets and being able to track what the market's doing there, will lead to a lot of opportunities. Could lead to a lot of opportunities for you, to get something that otherwise, even just six months ago, might've cost you a whole lot more. Holding on and being strategic with your money at the moment, is obviously the most pertinent thing. But staying engaged in the market and understanding, what is going on there is also something you really should continue to do. To answer that question, you've got to really understand who your patients are that you're going after. What their needs are, and what you need to put there from a supply point of view so that they can get care. I've been involved in many conversations in a previous life where the thought of just putting more doctors out there, just adding supply will get you demand, right? And that supply side demand is a real thing. But you're also cannibalizing yourself. You're also really competing with yourself. And is that the best use of your money? And the answer is probably no. The more that telehealth takes off, the less office space you'll end up needing. However, that office space really does need to be put in the strategic locations that are convenient for the patients that you most wanna care for so that they can come in, and that they can get seen whenever they need to. Telehealth is great, but it's not going to solve everything.
ADAM: Thanks Jason. And thank you everybody for joining Prescriptions for Growth hosted by Trilliant Health. If you have any questions, comments, or if you'd like, just to talk to Jason and I about anything healthcare growth related, we'd be happy to do it. Put it in the comment section or shoot us a direct message (firstname.lastname@example.org or email@example.com). Thank you.