There’s been a lot of chatter over the last few years about the "new normal" for law firms, and what that might mean.  Yesterday, I was reading an interesting article at Above the Law, which addressed the idea that the new normal is a lot like the "old normal" (making the boom time an aberrance and not the other way around). 

While that part was enlightening (and I recommend reading the article in full), what I found most useful were the lessons that the author felt we’d learned over the past four years and advice for BigLaw firms in dealing with the new normal.  We all recognize that BigLaw and mid-sized firms are different, but in this case, the advice are very much the same for both. We’ve been hearing it again and again, so it’s definitely time to start making some changes (if you haven’t already), to remain competitive. 

Continue Reading Mid-sized firms and How to Adjust to the “New Normal”

Yesterday, we talked about the impact of the election on the PPACA, as well as the implications of the PPACA for employers. Today, we’ll delve into the implications for healthcare industry sectors with our final post in the series. 

Lynn kicked it off by saying that before we go into each sector individually, she wanted to make an introductory comment. There are people who have asked why did the stock market reach bullish about healthcare stocks following the decision, but then not bullish about it, and whether anything can be read into this. Lynn said that whenever she reads these kinds of articles, she has to laugh, because each company is in their own relationship with entitlement programs and private health insurance, and they have different starting points and are in different states. 

She said there is the number one issue – what she calls the "elephant in the room" – which is whether the penalty is strong enough to get people to buy health insurance, in which case, you’ll have a different set of winners and losers, versus whether the penalty does not. Will employers drop people into the exchange, or will they stay self-funded and keep the insurance that they have? Continue Reading SCOTUS Decision on the PPACA – Implications for Healthcare Industry Sectors Part I