McKinsey: Half the World’s Banks Too Weak to Survive Downturn

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by geodel on Tuesday October 22, 2019 @09:23AM (#21323307)

Not that I disagree. Its same pattern: half of the universities, most of liberal art colleges, 60% of IT companies, 70% of private Doctor practices and so on are too weak to survive next shock. The only sad part I see is nasty businesses like McKinsey is not fitting in any pattern of failure.

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by helpPeople on Tuesday October 22, 2019 @09:33AM (#21323391)

I don't agree on the private doctor practice. Source, married a dr

Worst, worst case, the ~15k/yr in rent, ins, and software put a dent in profits, but if each visit is min 75$, you can figure out how hard it is to break even. Upper revenue is 200k+/yr

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by toomuchtodo on Tuesday October 22, 2019 @09:41AM (#21323475)

Reimbursement compression along with EHR/EMR requirements has seen a lot of practices acquired by large health systems.

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by helpPeople on Tuesday October 22, 2019 @09:54AM (#21323595)

Not to get too bogged down with details, but this winter she is looking to change EMR systems. The current one is the most expensive/established EMR for her field.

Rent is 12,000 dollars of expenses. EMR is almost trivial.

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by et2o on Tuesday October 22, 2019 @10:58AM (#21324328)

Vast majority of private practices are closing or being purchased by larger hospital systems.

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by throwaway5752 on Tuesday October 22, 2019 @11:40AM (#21324905)

Sure, same is true for software startups. Trade long hours and slightly above market pay for a lump sum payment and predictable patient load? The increasing complexity of interacting with health insurance providers and diagnostic labs has something to do with it, also. Why wouldn't a lot of them do that?

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by Scoundreller on Tuesday October 22, 2019 @12:39PM (#21325696)

In Canada, the governments have been actively discouraging the solo practitioner practices for GPs.

Turns out that telling your patients to go to ER or a walk-in clinic every weekend/evening/holiday/illness/leave isn’t the best care.

And continuity of care if you retire/fall ill is rarely done well.

Multi-practitioner clinics can share an on-call schedule or evening/weekend hours, get bonuses for doing so and save money.

Also allows for flexible schedules. Want to work 3 days a week? Sure! Had a child and want to still work the occasional weekend only for a bit? Ok!

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by NTDF9 on Tuesday October 22, 2019 @10:34AM (#21324024)

So is the housing market, so are people who've take up ungodly debt

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by NotSammyHagar on Wednesday October 23, 2019 @11:22AM (#21335546)

I think we'd be better off with a bunch of small private colleges going under. The weaker yet still expensive and shrinking enrollment private colleges are dying slowly. They are just soaking up resources that could go other places.

One example is Cottey College, a small college in Missouri that is trying to get one of my relatives to go there. Down to below 300 students and shrinking fast.

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by sertorius on Tuesday October 22, 2019 @09:27AM (#21323339)

Private Doctor practices? How can they be vulnerable?

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by talkingtab on Tuesday October 22, 2019 @09:36AM (#21323421)

Not an expert but the processing cost of insurance is supposedly very high. Question: how high compared is the cost of processing insurance on some meaningful basis?

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by golergka on Tuesday October 22, 2019 @09:42AM (#21323481)

Why are you calling McKinsey "nasty"?

[ Parent | on HN ]

Re:McKinsey: Half the World’s Banks Too Weak to Survive Down... by gherkinnn on Tuesday October 22, 2019 @10:06AM (#21323719)

True. You might as well call a sphere “round”. Redundant tautologies.

[ Parent | on HN ]