Greetings from the staff at Gardner Resources Consulting:

Since the writing of our last article in July, overall US economic indicators and the cautious optimism we observed continue their upward trend. Though the demonstrable recovery we've all been waiting for has not yet begun, shouldn't we ready ourselves now with the appropriate planning for when it does take hold? This month's Insight Piece, Gearing Up for the New Economy, examines some of the ways you might want to prepare.

INSIGHT PIECE:
Gearing Up for the New Economy

Believe it or not, there are signs that the worst of the recession is beginning to ease and that the economy is heading toward a recovery. With the prospect of a turnaround upon us, it is time to shift gears and prepare for healthier times ahead.

Healthcare IT organizations have spent the better part of the past year adapting to the economic crisis. More than half the nation's hospitals either scaled back or postponed their information technology projects. Locally, new programs were cut, staffing was reduced and demand for IT services remained stagnant at best.

Yet despite all this turmoil, healthcare IT is still projected to be one of the most dynamic and fastest growing segments of IT technology. Just last month, Hospitals and Health Networks reported on the escalating staffing shortage in healthcare IT and stated that the shortage will only worsen given the demands of the Health Information Technology for Economic & Clinical Health (HITECH) Act. The unique set of circumstances brought on by the stimulus plan and the HITECH Act could create a significant up-tick in demand for IT resources over the next 6-12 months.

Most economists now agree that the recession is bottoming out and that we are on the cusp of a turnaround. That's great news, but industries that economized and downsized need to prepare for the next phase of economic evolution. If your organization pulled back as the economy went into a tailspin, it's time to re-examine budgets, IT plans and staffing. There are several actions you should take now so you and your organization can hit the ground running when the economy shows signs of improvement. 
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