From WSJopinion: University presidents must learn from their healthcare counterparts and adapt before it’s too late, writes BobbyJindal
, which were premised on the idea that clinical scale leads to lower costs and improved patient care. Hospitals are capital-intensive—and strategic partnerships help them achieve their long-term mission while cutting red tape and decreasing the need for outside investment.
Universities have made progress in providing cost transparency, but they lag far behind hospitals in providing quality transparency. Unlike hospitals, which provide measures related to clinical outcomes and patient satisfaction, universities don’t like to talk about outcomes. Many schools opposed Obama -era mandates to publish data like gainful-employment rates.
Covid accelerated the use of telemedicine to treat patients at home, and universities were forced to adapt to the pandemic by investing in distance-learning technologies. But the quality of remote learning has remained spotty. While many students prefer the residential-college experience,With lower reimbursements across most procedures and an aging Medicare population, hospitals have had to find new revenue sources.
The pandemic exacerbated, but didn’t create, the pressures facing higher education. Wishing for a return to the status quo ante is no strategy. If university presidents want their institutions to survive, they must seize this moment to learn from the rapid changes in healthcare.
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