How a recession can make a practice flourish

hat are the consequences of the great stresses to which the healthcare systems are exposed?

Dr. Salama:The healthcare industry has experienced significant pressure in the past year, with multiple challenges arising simultaneously. This has led to an unprecedented crisis for healthcare providers, characterized by shortages of staff, supply chain disruptions, and a downturn in the capital markets. Additionally, rising interest rates have further compounded these issues. The situation can be described as an "unprecedented storm" that has put significant strain on the healthcare industry.

Does the size of the healthcare provider play a role in managing the crisis?

Dr. Salama: Unlike large, profitable health systems, rural, smaller private hospitals do not have extensive investment portfolios and are therefore more likely to face financial pressures. In addition, they often lack the credit pro- fil required to issue debt instruments such as bonds. This forces the 'small' ones, like LBCL Surgery & Vein Practice, to innovate to make up for shortfalls accordingly. When it comes to cost reduction initiatives, it's important to be data-driven, to look beyond short-term impacts
and work closely with providers to ensure that patient safety and accessibility of care are not compromised.

How is LBCL's surgery and vein practice getting through the crisis?

Dr. Salama: We knew from day one of the pandemic that things would never be the same, at least for a few years. So in our small private practice, we had a goal from the beginning of the pandemic that our private treatment costs for our patients would not increase. Even if there should be a slight increase, we have assured that we will never jeopardize our quality! We have stuck to our view that vein treatments and their accompanying diseases are always individual and therefore always require a high level of quality not only in the procedures themselves, but also in inventorying, planning and patient communication and follow-up.

What does that look like in detail?

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Dr. Salama: We have expanded our supplier base and gone into new markets to get the same quality of inventory with comparatively better prices, and that has worked very well. In fact, finding good or cheaper in- ventar has been a great advantage because, in parallel to finding new suppliers, we have discovered and adapted newer technologies for the European market such as the 3-ring laser catheters, which are more efficient because the laser is released from three sources and not just one within the same shot, which increases the efficiency and also reduces the time of the procedure. By shortening the procedure time, we were able to reduce costs, this saved money was used to purchase this technology, which did not increase the costs for patients in our clinic, or only slightly. Broadening our supplier base has meant that our current suppliers are more willing to give better terms. As a result, we are able to operate with less stress. At LBCL Surgery &  Vein Practice, we have communicated with staff, patients and business partners to keep things transparent and plan for how we can manage the recession.

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Involvement in the decision-making process has brought to light great ideas and excellent input. Everyone involved feels valued and well taken care of. We have remained adaptable and ready to embrace change, and we have adjusted our work flexible hours and offer new services. The most important thing is that we remain proactive, communicate offen and focus on providing excellent patient care.

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