How's business?

First, my apologies for being absent from my blog postings. I managed to post a new piece the first week of July, while I was on PTO, but nothing since. My excuse is that we are surprisingly, and gratefully busy with new projects. I’m also hearing from some other researchers that they have been very busy this summer. All of this is great news for our industry.

But like many people, I still worry about the economy, and I keep trying to find signs of a recovery. So I ask everyone I meet “how’s business”? During a recent visit to my doctor for my annual check-up, I asked my doctor the same thing. It may seem like a strange question to ask a doctor, but remember they are also in business. They have staff and bills to pay like any business.

I think he was a bit surprised by the question, but he had an immediate answer. Business has generally been good – people still get sick, but he did feel people were deferring preventive visits. The biggest surprise I got was his comment about their best customers – those with insurance. He is seeing that the insured, meaning those who are still working, are so busy (likely due to fellow workers being laid off) that they just don’t have time to get to the doctor. They wait until they absolutely have to go. That has impacted his business.

His observations are in line with a recent report that people who take prescription drugs for preventive purposes (such as blood pressure or cholesterol medicines) appear to be cutting back. They may take the drugs five days a week instead of seven. Over time, this saves them a bit on their co-payments.

So again, I am grateful that business is good for us right now. I hope I can hear more researchers say the same thing.