The Impact of COVID-19 on Hospital Resources

The Impact of COVID-19 on Hospital Resources

March 11, 2021

 

 

Healthcare professionals are often described as the heroes of the COVID-19 crisis.

For more than a year, they have shown a remarkable resilience. Under extreme duress, they have expanded their skill repertoire and stretched their own physical and emotional limits to provide complex and compassionate care. The article underscores the difficulty of formulating capacity plans to  respond quickly and effectively to successive surges in demand while normal revenue streams are constrained.

 


Video Spotlight: Burnout in the ICU


This post is based on The New York Times article, See How Covid-19 Has Tested the Limits of Hospitals and Staff, by J. Keefe, Y. Parshina-Kottas, & S. Fink, February 23, 2021, and the YouTube video, COVID-19: Doctors and Nurses Talk about Burnout as Another Wave Hits U.S., by TIME, November 23, 2020. Image source: Chaikom/Shutterstock.

Discussion Questions:

1. Describe the capacity plans needed to deal with sudden increases in demand volume and mix?

Guidance: To overcome the increased utilization of ICUs around the country, new areas have been repurposed and can accommodate COVID-19 patients. The staffing of these expanded ICUs has been more challenging. ICU care requires specialized personnel. As a result, pulling Continue reading

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Forecasting Consumer Demand: Weather Drives Sales

Forecasting Consumer Demand: Weather Drives Sales

December 15, 2019

From Pop Tarts to snow blowers, consumer product sales are being driven by the weather and predicted with increasing accuracy by IBM.

AI-driven analytics pair with detailed weather forecasting to help merchants know what specific items shoppers will want to purchase, when and where they will shop, and how much they will buy.  IBM has fine-tuned its forecasting models so they can provide store-level forecasts for specific products (SKU’s).

Interestingly, the most important drivers in the models are not economic but weather related.


Video Spotlight: How to Improve Retail Demand Forecasting with Cognitive


This post is based on the Forbes article, The Science of IBM’s Holiday Retail Forecast—and Why Companies Count On IT, by Matt Hunter, November 27, 2019, and the YouTube video, How to Improve Retail Demand Forecasting with Cognitive, by IBM Services, January 12, 2018. Image source: Shutterstock/ra2studio

Discussion Questions:

1. How do weather related forecasts predict buyer behavior?

Guidance: Current weather conditions can affect buying behavior, driving up demand for umbrellas or hot coffee, for instance.  However, forecasts of longer range patterns tend to have a greater influence. For instance, this year much of the United States faced an early cold Continue reading

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