VGM | Mike Mallaro

Healthcare consumption trends during the pandemic

Posted On: March 12, 2021 by Mike Mallaro in: Healthcare, VGM

The pandemic had a significant impact on healthcare businesses and healthcare consumption. With full 2020 data now reported, we can assess the trends and what they may indicate going forward: For the full year of 2020, health insurers experienced a reduction in healthcare consumption of about 2-3% compared to 2019. I think it is reasonable to assume healthcare consumption other than COVID declined by about 5-6% for the year, offset in part by the increased healthcare...

Value in Peaceful Reflection & Restfulness

Posted On: November 30, 2020 by Mike Mallaro in: Opinions, Social commentary, VGM, Work Culture

I saw Van the other night. He pointed to me, smiled and yelled across the way, “lowering your handicap, Mikey?” Van is Van G. Miller, founder of VGM and the man who preceded me as CEO of our company. He passed in 2015 – a faulty heart and too much wear on the tires. I worked for him and learned from him for fourteen years prior to succeeding his legend. He loved golf and a reference to a golf handicap was not unexpected. I’m left wondering what...

Healthcare Activity in Pandemic - Q3 Update

Posted On: November 17, 2020 by Mike Mallaro in: Healthcare, Opinions, Social commentary, VGM

I continue to watch the pandemic’s meaningful impact on the healthcare business and consumption of healthcare. With third quarter data now reported, we can assess the trends and what the next few months may hold: The initial heat of the pandemic was mid-March through mid-May. In the second quarter of 2020 (April-June) there was a reduction in non-emergent and elective healthcare services. Largely this was considered a deferral of services but in reality a portion of...

Failure by Medicare Bureaucrats

Posted On: September 30, 2020 by Mike Mallaro in: Healthcare, VGM

pros-the-sis (noun): a device, either external or implanted, that substitutes for or supplements a missing or defective part of the body. Medicare provides health coverage for prosthetics (artificial limbs and body parts) when need is indicated by the patient’s physician. Makes perfect sense. Further, Medicare coverage provides for a custom-fit prosthetic - arms, legs, ears, hands, eyes...

Win with great team players

Posted On: September 21, 2020 by Mike Mallaro in: Employee Ownership, Social commentary, VGM, Work Culture

The other day I clicked on the link to a video of a basketball game played 40 years ago – and had an epiphany - mostly the best teams win, not the team with the best player(s). The game was Iowa vs. Georgetown, with the winner going to the Final Four. The Iowa team had no all-Big Ten players that year. Of their five leading scores that game, four never played a minute in the NBA, and the one that did was a...

Tags: team, team players, vgm

More updates on Healthcare during the Pandemic

Posted On: September 8, 2020 by Mike Mallaro in: Healthcare, VGM

The business of healthcare continues to face serious headwinds as a result of the pandemic. A few newsworthy developments: A recent Kaufman Hall analysis found hospital and health system operating margins were down 96% in 2020 (through July) as compared to same period of 2019. A meaningful amount of that decline was offset by government intervention and financial support. But even after all stimulus and support aid from the government, hospitals and...

Update on healthcare trends during pandemic

Posted On: August 25, 2020 by Mike Mallaro in: Healthcare, VGM

Healthcare activity continues to be muted due to impact of the pandemic. Elective medical procedures are still tracking nearly 20% below “normal” levels. The pipeline for new candidates for procedures in not re-filling as fast as historically. Hip and knee replacement volume was actually slightly lower in recent weeks than in June, speaking to the pipeline issue. This same rationale will impact HME patient pipelines. Prescription volumes were 8-10% below...

Healthcare Trends during the Pandemic

Posted On: July 30, 2020 by Mike Mallaro in: Healthcare, VGM

We know the pandemic has had a huge impact on the healthcare business and consumption of healthcare, and with second quarter data being reported over these past couple weeks, we can quantify some of the impacts: In reviewing second quarter financial results of the three largest health insurers reporting (UnitedHealth, Cigna and Anthem), it is clear that the pandemic is resulting in lower numbers of visits, procedures and healthcare incidents, which results in healthcare spend being meaningfully...

Great Teams

Posted On: July 13, 2020 by Mike Mallaro in: Employee Ownership, Social commentary, VGM, Work Culture

The summer when I was twelve I played on the Gibson Red Sox baseball team. Our team finished the season with a record of zero wins and sixteen losses. We were what our record said we were. Today most of us are part of teams – maybe a company, a department, a family or a community group. We each have a job to do as part of a team, with individual job duties and responsibilities. But perhaps more importantly, we each have an...

35 years

Posted On: June 26, 2020 by Mike Mallaro in: Opinions, VGM, Work Culture

June 24 was the 35th anniversary of my professional career. On that day in 1985, I joined Touche Ross in their Omaha office. Touche Ross was an accounting firm and was part of the “Big 8”, a term for the eight national accounting firms in existence at that time. It was a proud firm, with high expectations and a strong culture of serving clients. I worked at that firm for eleven years. I loved that job and it was very good for me. I thought this a good...

Tags: 1985, career, lessons learned