WE'RE KICKING IT UP ANOTHER NOTCH.
We are thrilled to announce our partnership with Jim Lott, an accomplished senior executive, board member, and thought leader with more than 35 years of success in the healthcare industry.
Jim is a valuable asset for companies seeking guidance on media and stakeholder communications management. His broad areas of expertise include healthcare policy development, strategic planning, marketing, collaboration, government advocacy programs, executive, and management coaching.
We asked Jim three questions to learn a little more about his background and his passion for improving the delivery of healthcare.
What led you to a lifetime of work in the healthcare sector?
As a teen being raised by a single mom, I was denied treatment for a broken arm by our community hospital because we had no family health insurance. An experience like this stays with you, so at the age of 19 when given the opportunity to work at either the county welfare department or a county hospital, I chose the hospital.
That was the beginning of my sojourn in healthcare. My full circle moment came in 1986. I was working as the chief consultant to the health committee of the California state legislature when Congress banned the practice of turning patients away from emergency rooms for lack of insurance coverage. That made me proud to be involved in the crafting of healthcare policy.
Can you describe one of your greatest professional accomplishments?
I am most proud of my coaching achievements. I am not going to drop names, but I have helped six score and more healthcare enthusiasts and about a dozen elected officials achieve their executive career and political career goals.
The one non-coaching experience that stands out was my work on the Medi-Cal reform legislation enacted in 1983 that saved California taxpayers billions of dollars during the ten years following its passage.
What are some of the major issues that the healthcare industry will face in the coming years and beyond COVID-19?
Without a doubt, COVID-19 underscored the workforce shortage and supply chain issues haunting the industry. In desperation to meet demand during the pandemic, one hospital system in California recruited nurses with promises of $225/hour wages plus huge shift bonuses. This is a one-off example, to be sure, but the long-term workforce supply problem looms large.
The demographics of our professional workforce are shifting. Over half of the primary care physicians practicing medicine in California are over the age of 60, with most of those anxious to retire. We have over a million nurse vacancies in hospitals now, and the average age of a hospital-based nurse is about 48, and most of those will retire by age 55. The demand to find and employ the medical professionals needed will worsen.
Healthcare spending continues to rise. By some measures, healthcare expenditures are projected to consume as much as 25% of our nation’s total spending (GDP) by 2025, which is three to four times more than what other top-tier industrialized nations spend.
The greater challenges facing the healthcare industry, though, are the real-time advances being made with gene therapies and the integration of artificial intelligence into our delivery model. These technologies will revolutionize medical care delivery throughout the next decade and beyond, much like the development of antibiotics, anesthetic agents and imaging technologies did in their time.