scholarly journals Do remote and virtual care models align with current business practices to influence the sustainability of small healthcare firms? A comparative of small clinics, physician offices, and pharmacies in Colorado. (Preprint)

2020 ◽  
Author(s):  
Madhavan Parthasarathy ◽  
Jiban Khuntia ◽  
Rulon Stacey
Keyword(s):  
Small Businesses ◽  
Care Delivery ◽  
Business Owners ◽  
Least Square ◽  
Business Practices ◽  
Term Survival ◽  
Physician Practices ◽  
Virtual Care ◽  
Current Business

BACKGROUND Lockdowns and shelter-in-place orders during the COVID-19 pandemic have accelerated the adoption of remote and virtual care (RVC) models, which may include telehealth, telemedicine, internet-based electronic doctor visits (e-visits) for remote consultation, diagnosis, and care. However, this sudden shift in favor of RVC has left small healthcare businesses, such as clinics, physician offices, and pharmacies, struggling to align resources and operations to the new RVC realities. Insights into the current perceptions of small healthcare businesses towards remote care, particularly concerning their perceptions of whether RVC adoption will synergistically improve their business’s sustainability, will provide insight to policymakers regarding the pros and cons of rapidly adopting RVC technology. OBJECTIVE The study’s objective is to gauge small healthcare business owners’ perception of RVC’s impact on their business’s sustainability during and after the COVID-19 pandemic. Specifically, it measures their current adoption of and satisfaction with RVC models, how well this aligns with their current business practices (SCBS), and whether these perceptions influence their view about their own business’s long-term sustainability (SUST). Three groups of small healthcare businesses (i.e., Clinics, Physician Offices, and Pharmacies) are randomly sampled across Colorado. METHODS We randomly sampled small clinics, physician offices, and pharmacies across Colorado and collected survey data via the assistance of a consulting firm in July 2020. An ordinary least square regression, controlling for demographical characteristics of the business owners, was used for analysis. The focal estimated effects of the study were compared across the three groups of small businesses to draw several insights. The total sample size was 270 respondents, consisting of 82 Clinic, 99 Small Physician Office, and 89 Pharmacy owners across the state of Colorado. RESULTS The estimation results suggest that the direct effects of SRVC and SCBS on SUST are significant and positive. The goal of the paper, however, is measured via the interaction effect between SRVC and SCBC, which measures whether the adoption of RVC aligns with their current business model and whether this interaction impacts their perception of their business’s sustainability. We find differing effects across the three groups. The interaction term SRVC × SCBS is significant and positive for the Clinics sample (p = 0.015), significant and negative for the Physician Offices sample (p = 0.052), and not significant for the Pharmacy owners’ sample. These variations explain that while RVC integration with current business practices is perceived positively by clinics, the opposite is true for small physician offices. CONCLUSIONS As the COVID-19 global pandemic continues to grow, and efforts for remote and virtual care are progressing at a rapid speed, it is critical to understand its impact on small healthcare businesses and their perceptions of long-term survival. This study finds that small physician practices are not able to take advantage of or even keep up with the rapid remote and virtual care developments, in contrast to clinics. If small healthcare firms are unable to compete with RVC (or synergistically integrate RVC platforms into their current business practices) and eventually go out of business, the damage thus inflicted to traditional healthcare services may be severe, particularly in the area of critical care delivery and other important services that RVC cannot effectively replace. This paper hence has implications for public policy decisions such as incentive-aligned models, policy-initiated incentives, and payer-based strategies for improved alignment between RVC and existing models.

scholarly journals Impact of Remote and Virtual Care Models on the Sustainability of Small Health Care Businesses: Perceptual Analysis of Small Clinics, Physician Offices, and Pharmacies in Colorado

10.2196/23658 ◽  
2021 ◽  
Vol 23 (2) ◽  
pp. e23658
Author(s):  
Madhavan Parthasarathy ◽  
Jiban Khuntia ◽  
Rulon Stacey
Keyword(s):  
Health Care ◽  
Business Practices ◽  
Term Survival ◽  
Physician Visits ◽  
Physician Practices ◽  
Business Sustainability ◽  
Positive Effects ◽  
Virtual Care ◽  
The Impact ◽  
Current Business

Background Lockdowns and shelter-in-place orders during COVID-19 have accelerated the adoption of remote and virtual care (RVC) models, potentially including telehealth, telemedicine, and internet-based electronic physician visits (e-visits) for remote consultation, diagnosis, and care, deterring small health care businesses including clinics, physician offices, and pharmacies from aligning resources and operations to new RVC realities. Current perceptions of small health care businesses toward remote care, particularly perceptions of whether RVC adoption will synergistically improve business sustainability, would highlight the pros and cons of rapidly adopting RVC technology among policy makers. Objective This study aimed to assess the perceptions of small health care businesses regarding the impact of RVC on their business sustainability during COVID-19, gauge their perceptions of their current levels of adoption of and satisfaction with RVC models and analyze how well that aligns with their perceptions of the current business scenario (SCBS), and determine whether these perceptions influence their view of their midterm sustainability (SUST). Methods We randomly sampled small clinics, physician offices, and pharmacies across Colorado and sought assistance from a consulting firm to collect survey data in July 2020. Focal estimated study effects were compared across the three groups of small businesses to draw several insights. Results In total, 270 respondents, including 82 clinics, 99 small physician offices, and 89 pharmacies, across Colorado were included. SRVC and SCBS had direct, significant, and positive effects on SUST. However, we investigated the effect of the interaction between SRVC and SCBS to determine whether RVC adoption aligns with their perceptions of the current business scenario and whether this interaction impacts their perception of business sustainability. Effects differed among the three groups. The interaction term SRVC×SCBS was significant and positive for clinics (P=.02), significant and negative for physician offices (P=.05), and not significant for pharmacies (P=.76). These variations indicate that while clinics positively perceived RVC alignment with the current business scenario, the opposite held true for small physician offices. Conclusions As COVID-19 continues to spread worldwide and RVC adoption progresses rapidly, it is critical to understand the impact of RVC on small health care businesses and their perceptions of long-term survival. Small physician practices cannot harness RVC developments and, in contrast with clinics, consider it incompatible with business survival during and after COVID-19. If small health care firms cannot compete with RVC (or synergistically integrate RVC platforms into their current business practices) and eventually become nonoperational, the resulting damage to traditional health care services may be severe, particularly for critical care delivery and other important services that RVC cannot effectively replace. Our results have implications for public policy decisions such as incentive-aligned models, policy-initiated incentives, and payer-based strategies for improved alignment between RVC and existing models.

The Role of SBA Loans in Small Business Survival after Disaster Events

2021 ◽  
pp. 0739456X2110282
Author(s):  
Maria Watson
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Conditional Logistic Regression ◽  
Small Business Administration ◽  
Confounding Factors ◽  
Term Survival ◽  
Business Survival ◽  
Quasi Experimental

Local businesses are important for recovering communities, yet program analyses of the effectiveness of Federal disaster loans—particularly for businesses—are limited and contradictory. This study looks at the role U.S. Small Business Administration (SBA) Disaster Loans played in the long-term survival of small businesses in Galveston County, Texas after the 2008 Hurricane Ike. This research uses quasi-experimental design, matching methods, and conditional logistic regression to tease out the effect of the loan from potential confounding factors. The results show that businesses that received a disaster loan were significantly more likely to survive than their controls, and businesses that moved were also more likely to survive.

Introduction

2019 ◽  
pp. 1-20
Author(s):  
Courtney Lewis
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Structural Adjustment ◽  
Business Owners ◽  
Small Business Owners ◽  
Economic Stability ◽  
The Great Recession ◽  
Justice Movements ◽  
The Impact

This introduction describes how encouraging a diversity of small businesses can help support a Native Nation’s long-term economic stability, but goes further to demonstrate this uniquely through the eyes of the small-business owners themselves along with an in-depth examination of their local, national, and international contexts. In doing so, it describes how this book also addresses the ways in which Native Nations, by supporting small business resilience, are responding in politically and socioeconomically meaningful ways to settler-colonial economic subjugations. This introduction further describes how the book unpacks the layers of small-business complications specific to Native Nations and American Indian business owners while speaking to larger theoretical questions regarding the impact of small businesses in a global indigenous context. Debates regarding economic sovereignty versus economic power, measures of autonomy, land status, economic identity, fluctuating relationships with settler-colonial society, and the growth of neoliberalism (along with its accompanying “structural adjustment” policies) meet with specific practices, such as the implementation of guaranteed annual incomes, cultural revitalization actions, environmental justice movements, and the potentially precarious choices of economic development—issues that are exacerbated during times of economic precarity, such as the Great Recession.

Connecting the Dots

2017 ◽  
pp. 26-41
Author(s):  
Olajumoke Ogunsanya
Keyword(s):  
Creative Thinking ◽  
Business Practices ◽  
Business Organizations ◽  
Sustainable Business ◽  
Term Survival ◽  
Collective Creativity ◽  
Connecting The Dots ◽  
Creativity And Innovation ◽  
The Relationship

Calls for businesses to act with concern for the environment and society create new operating scenarios in which sustainability concerns must be taken into consideration along with the primary objectives of profitability and competitiveness. These additional obligations contribute to dynamism of the marketplace and make it important for businesses to draw on creativity and innovation to find connections between the unrelated in order to establish new efficiencies that can create competitive advantage and differentiation in the environment they find themselves. The central theme of this chapter is how bisociation informs collective creativity and innovation, and influences sustainability for business organizations competing in an environment that is in a permanent state of flux. This chapter trails a series of concepts to find the relationship between the concept of bisociation, collective creativity and sustainable business practices. The aim is to show how consistent creative thinking and exploration of information in different spaces of thought can proffer innovative solutions organizations require for their long term survival and prosperity.

scholarly journals What Matters to Kansas: Small Business and the Defeat of the Kansas Tax Experiment

2020 ◽  
Vol 48 (1) ◽  
pp. 27-66
Author(s):  
Daniel R. Alvord
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Business Owners ◽  
Market Forces ◽  
Economic Interests ◽  
Political Role ◽  
Corporate Elite ◽  
Self Interest ◽  
Tax Cuts

Why would businesses advocate for a tax increase? They may take such a position, this article argues, when tax cuts threaten their long-term economic interests. In 2012, Kansas eliminated taxes on many business owners but destabilized the economy and exposed small business to the harshness of market forces. Small businesses rely more on state services than large businesses and are more situated in local communities. The literature suggests two main reasons for small businesses’ “enlightened self-interest” perspective. First, many benefited only marginally from the tax cuts. Second, the savings were offset by fiscal damage to state services that small businesses rely on. They advocated for higher taxes on themselves neither out of altruism nor entirely out of self-interest but recognizing that they had to pay taxes in order to stabilize the economic environment. In that position, small businesses in Kansas may occupy the moderating political role once occupied by a now-fractured corporate elite.

scholarly journals Barriers to the development of entrepreneurial activities in newly established small, micro and medium sized enterprises in Tshwane

2015 ◽  
Vol 12 (3) ◽  
pp. 317-331
Author(s):  
Zeleke Worku
Keyword(s):  
South Africa ◽  
Small Businesses ◽  
Supervisory Support ◽  
Term Survival ◽  
Long Term Survival ◽  
Entrepreneurial Skills ◽  
Entrepreneurial Activities ◽  
The City

The purpose of the study was to identify and quantify differential factors that are known to adversely affect sustained growth and development in newly established Small, Micro and Medium Sized Enterprises (SMMEs) conducting business in and around Tshwane in South Africa. The study is based on a 5-year follow-up study (2007 to 2012) of a random sample of 349 small business enterprises that operate in and around the City of Pretoria in South Africa. Data was gathered from each of the businesses on socioeconomic factors that are known to affect the long-term survival of small businesses. The objective of the study was to identify and quantify key predictors of viability and long term survival. The study found that 188 of the 349 businesses that took part in the study (54%) were not viable, and that the long-term survival and viability of small businesses was adversely affected by lack of entrepreneurial skills, lack of supervisory support to newly established businesses, and inability to operators running newly established businesses to acquire relevant vocational skills

Ethical Dilemma and Marketing Decisions: A Case Analysis of Food Products

Think India ◽  
2013 ◽  
Vol 16 (3) ◽  
pp. 24-33
Author(s):  
Naresh Sharma
Keyword(s):  
Emerging Market ◽  
Food Products ◽  
Business Environment ◽  
Business Practices ◽  
Term Survival ◽  
Global Marketing ◽  
Goods And Services ◽  
Ethical Marketing

This paper attempts to examine the ethical dilemmas faced by the managers in making decisions in the marketing of food products. In the prevailing business environment, most of the organisations primarily aim to optimize profits in the long term survival what has emerged critical for feel-factor among the existing and prospective consumers and commitment among employees. A decade ago concept of ethical marketing was restricted to few known companies or selected brands but as a general marketing phenomenon it is only in the recent times that it has come to be accepted as critical to sustaining long term growth of the business across the global marketing spectrum. The dictates of the intense competition and global access to the goods and services have made ‘social responsibility’ as the cardinal mantra for transacting business. In the emerging market scenario, business practices and transparency in the market are not only found to be essential but have also become a basic requirement under the existing laws of the land and as such the role of marketers in decision making functions has changed under emerging new realities.

Sign in / Sign up

Export Citation Format

Share Document