#MillenniumLive The COVID-19 Shift to Telehealth

Our thought leader, Michele Chulick, the former President & CEO of Wyoming Medical Center, talks about her career journey, leading the successful affiliation between WMC and Banner Health, and the challenges leading a major health system during the pandemic in this weeks #MillenniumLive. Chulick touches on the rapid shift from in-person healthcare to telehealth during the COVID-19 pandemic, something that was in the works previously, but had to be ramped up due to the impending circumstances. She discusses how she helped lead WMC in implementing the only fully hospital based telehealth network TeleMed Wyoming, which expanded across the state in eight locations providing tele-stroke, clinic-to-clinic telehealth visits, and tele-dialysis and the first mobile application for urgent care visits. 

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Listen to the podcast episode on Spotify, Apple, Google Podcasts, or SoundCloud.

#MillenniumLive on The New Era of Shopping Behavior with [24]7.ai

COVID-19 changed shoppers’ behavior overnight, and retailers have been through a market-reshaping for 16 months (and counting) as a result. What are consumers’ new expectations, and how can retailers create a customer experience that fits those needs? Our #MillenniumLive guest Celene Osiecka, retail marketing expert and Senior Director of Conversational Design at [24]7.ai, answers these crucial questions, and shares insights on this “new era” of shopping behavior. She also addresses the role of technology, automation, and overall digital transformation when creating the best customer experience.

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Watch the video interview below, or listen to the podcast episode on SpotifyAppleGoogle Podcasts, or SoundCloud.

About [24]7.ai

Proven Results for Key CX Challenges

No matter what industry you’re in, the measure of success is in the numbers. [24]7.ai understands the challenges that are top of mind for customer-centric organizations—and they know how to deliver results. Their solutions and services are purpose-built to make an impact on the metrics that matter most: CSAT scores, revenue, and ROI. See what kind of measurable impact they can make for your business, and go here for more information.

David Sable Asks, Are Meetings Ruining Our Productivity?

As originally published by David Sable on Linkedin. Subscribe to the newsletter!

23 hours and 39 minutes, or the length of the longest zoom meeting in the world. 1,419 minutes. It was a call that started at 8:00 am and lasted until Zoom punked out on them, just shy of the goal of 24 hours.

To some of us, this number doesn’t seem like a crazy Guinness World Record quest, but rather just another day in our lives. However, it was less than ten years ago that another tech-enabled meeting garnered a different Guinness World Record. On December 12, 2012, 16,972 participants took part in the largest telephone conference in history. According to Guinnessworldrecords.com, “All the participants were on the call concurrently for at least ten seconds.”

And as PM News points out, “The Guinness World Record does not say what they talked about, but the sheer number of participants could leave anyone with questions about whether this was a productive meeting.”

What is our obsession with longest meeting time world records? Could it be that we know that our meetings are already getting interminably long? Maybe we hope that by immortalizing our seemingly endless work sessions, fifteen minutes of fame will make it seem all right?

Or maybe, just maybe it’s the ultimate cynicism—us flipping the bird at corporate time churning.

As I have pondered WFH, WFNH (Work From Near Home, i.e. Starbucks), WFABO (Work From Anywhere But Office) and RTO, efficiency, effectiveness, creativity and innovation swirl in my thoughts—as do meetings which in one way or another are core to all.

My readers know that I like to explore origin stories to better understand development, evolution and trends, so I searched out the history of meetings.

Possibly the first recorded meeting was between our common ancestor, Eve, and the snake who tempted her into sin…we all know how well that worked out.

Although The Bible is full of meetings, the Chicago Tribune traces the word’s origins to Aristotle’s lesser known brother, Meetistotle, who was stoned to death for initiating a certain meeting. His most memorable pearl of wisdom?

“Let’s get everybody together, because wasting time is more effective if we all do it in the same place”

Not much has changed since Meetistotle sacrificed his life to the corporate cause. And I imagine many of the WFH crowd have a passionate belief that by staying away from the office, they are contributing to the cause of efficiency by limiting meeting opportunities and the ensuing waste.

But are they really? Are there really less meetings? Are they any more efficient? Are we actually more profitably productive?

Let’s start by looking at meetings in general, which are often the most expensive communications forms in a company—and as often, the single biggest waste, costing billions of dollars a year.

In a recent Forbes article entitled, “Why Most Meetings Fail Before They Even Begin,” author Soulaima Gourani quotes a survey fielded by UNC which surveyed senior managers in various industries. 65% of managers said meetings keep them from completing their work. 71% said meetings are unproductive and inefficient. 64% said meetings come at the expense of deep thinking.

That being said, we all know that meetings can and do serve important purposes:

  • Disparate groups can get on the same page quickly.
  • Ideas can be built on in a collaborative forum.
  • Issues and opposition can be surfaced openly.
  • Consensus and timelines can be agreed on.
  • Milestones can be tracked.

On the flip side:

  • Often one person or a small group dominate.
  • Many are shy/afraid to speak up, so collaboration and openness is actually limited.
  • Too many people in a meeting cause confusion and consensus/next steps are blurred.
  • Lack of focus and attention make milestones iffy measures.

Elon Musk says it best: just forgo “excessive meetings.”

But our Zoom (using the word as a generic placeholder) meeting culture has not really contributed a lot, if anything, to our efficiency:

  • The number of meetings attended by a worker on average rose by 13.5%.
  • The average meeting count rose from 5.9 meetings, which were observed before the lockdown, to 6.9 meetings.

Worst of all, we have created Zoom fatigue. People are more forgetful. The quality of their attention is diminished. And recording the session does nothing but create more energy-sapping time.

One solution that I have written about before is to go “old-fashioned” and use the phone—an intimate, harder-to-multi-task yourself into distraction tool.

Let us not forget that Eric Yuan, the CEO of Zoom, has admitted to Zoom fatigue. And Jamie Dimon, Chairman and CEO of JPMorgan, has claimed to cancel all of his.

Frankly, I am sure you have all read about how to have better meetings, how to be more productive as our inboxes and feeds fill up all day long. I’m not putting them all down—believe me, I read them, too.

Yet, I am always reminded of the old joke (or maybe adage): “We will continue to have lots of meetings until we find out why no work is getting done.”

My bottom line is simple. Meetings were bad enough pre-Covid. WFH didn’t make it any better. And, we have lost the serendipity, creativity and beautiful efficiency of the stand-up encounter; the shared sandwich; the water cooler moment and the stroll over to my desk…all meetings, in the best way, and all social encounters of the most powerful sort.

KNEE JERK ALERT: I am not suggesting that everyone run back to their offices full time—that’s not up to me. You and your businesses will decide, and it’s fascinating to see who is demanding a return of some sort, who isn’t and who hasn’t the stomach for a decision yet…

Rather, I am advocating for an understanding of what meetings can be, why they are an extension of our social DNA and how, if we understand their power, we can be more creative and innovative (not to mention efficient and effective).

If not, I fear we will be doomed. As David Barry has pointed out:

“If you had to identify, in one word, the reason why the human race has not achieved, and never will achieve, it’s full potential, that word would be meeting”

Don’t let that be a self-fulfilling prophecy. I’d say the opposite can also be true—if you make it so.

#MillenniumLive on Life, Entrepreneurship, & Digital Art with Mark Mastrandrea

Our Co-founder, Alex Sobol continues his series on #MillenniumLive as he catches up with Mark Mastrandrea, Co-founder of IKONICK, the fastest growing digital art company in the world, with licensing rights for the NBA, Muhammad Ali, Marilyn Monroe, Elvis Presley and more. Alex & Mark reminisce about their days at the University of Delaware, talk through discovering the passion of entrepreneurship, and explore how IKONICK is putting a new spin on the business of inspiring others through art.

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Listen to the podcast episode on SpotifyAppleGoogle Podcasts, or SoundCloud.

About IKONICK

Designed to Offer Modern Art at Affordable Prices

IKONICK is a Los Angeles brand putting a new spin on the business of inspiring others through art. Embodying popular culture, our exclusive collections exist to motivate in a way that’s entirely our own. Whether you’re working out of a cubicle or hustling with an ocean view, we’ve created hundreds of pieces to motivate you through your mornings, days, and nights.

Fed up with the dead-end jobs that were going nowhere, we felt our ambition draining away at our desks, so we decided to leave it all behind and set out to create something that would inspire ourselves and others to chase those ambitions.

Started as a passion project in 2016, IKONICK is now the fastest growing digital art company in the world. Our artwork displays in thousands of homes and offices spaces. We partnered up with entrepreneurial icons Gary Vaynerchuk and Scooter Braun, and earned licensing rights for the NBA, Muhammad Ali, Marilyn Monroe, and many others. We are dedicated to producing affordable high-quality canvas art that’s guaranteed to make you sit up straight, put your head down and go follow your passion.

Interested in learning more? Visit their website here.

Rise in Phishing Attacks Targeting Cryptocurrency Buyers

With the price of Bitcoin on the rise, cybercriminals are targeting these users for their own financial gain. According to a study by Barracuda, the price of Bitcoin increased by 400% between October 2020 and May 2021 while the rise of cyberattacks grew by 192% in the same period. These attackers are using cryptocurrency to carry out spear-phishing attacks, business email compromise(BEC) attacks, and ransomware attacks.

As of late, many businesses are starting to shift into the world of cryptocurrency and beginning to accept it as a form of payment. This is where the attackers are shifting their attention. Due to the increase in value of Bitcoin and other cryptocurrencies, attackers are seeing this as a viable extortion opportunity as there are fewer regulations surrounding cryptocurrency, therefore, making it harder to trace back to the user. We saw this happen as recently as a few months ago with the Colonial Pipeline attack where they had to spend millions of dollars worth of Bitcoin due to a ransomware attack that compromised the functioning of their pipelines.

Barracuda mentions that these attackers are using malicious tactics such as sending fake emails notifying users of a “security breach” to obtain their Bitcoin login credentials, creating fake charities to persuade victims to purchase or donate Bitcoin, and targeting employees with personalized emails. Chainalysis lists third-party providers that can be used to carry out attacks through penetration testing services(used to probe for potential weaknesses), exploit sellers(the selling of access to certain vulnerabilities), and bulletproof hosting providers(allows users to host any website and complete purchases anonymously). Hackers are also using Bitcoin to get paid in extortion and ransomware attacks where they target victims claiming to have obtained compromising videos or photos of them and then threatening to release them if they do not pay the ransom in Bitcoin. This tactic has been around for a while but the use of Bitcoin has increased their monetary gain in these schemes. According to Chainalysis, there was about 5 billion dollars worth of cryptocurrency used in illicit activities in 2020 with 350 million dollars being obtained specifically from ransomware attacks. This was a 311% increase in cryptocurrency-related ransomware attacks compared to 2019. No other category rose as dramatically in 2020, which may have been caused by the massive influx of people working from home due to the Covid-19 pandemic which caused major vulnerabilities for many organizations.

Cryptocurrency-based-crimes

The future of cryptocurrency will change as cybercriminals are using this digital currency to their advantage. With the recent successful attacks on the Colonial Pipeline and JBS, Barracuda mentions, it is clear these criminals are aiming for large targets. They will most likely attempt to hit other critical industries such as water or energy. Chainalysis notes that ransomware is incredibly destructive as it has the potential to cripple local governments and businesses for weeks with there being 62 attacks on healthcare-related facilities in 2020. Some experts have estimated as much as 20 billion dollars in economic losses due to these attacks in 2020. As these attacks increase in frequency and with the use of cryptocurrency for ransom payments, the government will most likely have to get involved in the regulation of this digital currency.

Here are some helpful tips to protect yourself against cryptocurrency-related threats according to Barracuda and SIW:

  1. Invest in 24/7 monitoring
    1. Holidays and early morning hours are the popular times for cybercriminals to attack so it would be best to invest in a SOC(security operations center) or work with a partner that has one
  2. Endpoint Detection and Response Solution
    1. With so many individuals still working from home, having an EDR can be helpful as they use behavior-based algorithms to detect ransomware. The IT team can then work on remediation once there is a detection.
  3. Incorporate phishing training into your organization and stay on top of the latest email attacks
    1. Companies can benefit from training their employees on phishing and the proper things to look out for to establish whether the email is safe or not, such as checking for spelling errors, checking the senders’ email address, etc.
  4. Make sure your web applications are secure
    1. Online applications can be used for ransomware attacks so it is best for organizations to invest in API Security and software that protects against DDoS attacks and bot mitigation.
  5. Back up your data
    1. If a ransomware attack were to happen, having your data backed up can help to prevent losing recent files/data and aid in getting your system restored faster. This can be backed up on the cloud or a physical device, either way, it helps!

With these cybercriminals becoming more intelligent with their attacks every day, we need to try to stay one step ahead and protect our employees and our companies. Together we can use these precautionary measures in an attempt to stay safe and secure!

#MillenniumLive on Re-Imagining the Consumer Experience with Appriss Retail

It’s time to re-imagine your consumer experience. #MillenniumLive is joined by Nathan Smith, Senior Vice President of Product at Appriss Retail, whose mission is to help retailers realize the best consumer experience while maximizing profit. Nathan addresses the retail industry’s trillion-dollar problem: returns. He notes that the last year has only magnified the problem, and he provides insights on the role of returns in sustainability, engagement and the overall customer journey. The question is: Do all retailers need a free return policy to stay competitive? Nathan’s answer might surprise you.

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Watch the video interview below, or listen to the podcast episode on SpotifyAppleGoogle Podcasts, or SoundCloud.

About Appriss Retail

SaaS Solutions for Loss Prevention & Revenue Generation

Appriss Retail delivers software-as-a-service solutions that are used by leading retail chains worldwide — 39 of the Top 100 retailers rely on Appriss Retail solutions to reduce shrink, prevent return fraud, detect and remediate employee fraud, and improve operational processes.

Interested in learning more? Check out this latest study from retail analysts on optimizing the value in return transactions, or go here for more information on Appriss Retail!

Optimizing the Value in Return Transactions

There are only so many dials that can be turned to increase sales and reduce expenses, and most have been turned at least twice already. But what about returns? Historically, return transactions have just been “a part of doing business”—however, they can, unfortunately, cause BOTH a negative sales impact AND an increase in expenses. But, what if new value could be created—previously ignored in return transactions—adding new sales? Or what if fraud and abuse could be reduced without creating stricter policies that can frustrate good consumers—and still save costs by reducing return rates? What if a NEW omnichannel dial could be turned? Think about it, if providing a higher level of consumer service and generating both revenues and increased margin during the stressful return or exchange process could be possible, then an improved bottom line and a competitive advantage would have just been created.

Return and exchange transactions are a dark part of the retail environment—accepted out of necessity and/or consumer service pressures, yet often left unexamined. Most multi-channel retailers are so accustomed to seeing the returns bucket on weekly reports that they simply gloss over it, or grumble about the negative effect returns have in transforming gross sales into the net. But returns hold significant promise, and we believe that the concept of return optimization may be one of the keys to unlocking their extraordinary value.

Read the full report here

Former GE CEO, Jeff Immelt, Keynotes Our August Assembly!

On August 3rd, The Millennium Alliance Healthcare Providers & Payers Transformation Virtual Assembly kicks off with a keynote address from Jeff Immelt, Former CEO at General Electric. Immelt is a longtime leader in healthcare skilled with innovating and creating change during times of crisis. He’s been recognized by Barron’s as a “World’s Best CEO” three times, and served as a chairman for the “President’s Council on Jobs & Competitiveness” during the Obama administration. He has deep experience in the healthcare industry as a payor, innovator, investor and policy advisor. He is currently a Venture Partner for New Enterprise Associates (NEA), an organization helping founders build successful companies that improve the way we live. 

In his keynote address, Immelt will share what’s next for providers and payers, the newfound importance of digital transformation for healthcare 2.0, and he will address any questions from the audience during a live Q/A session. Interested in learning from one the most influential voices in leadership & healthcare? Go here to request an invitation to the virtual assembly!

About Jeff Immelt

Jeff Immelt joined NEA in 2018 as a Venture Partner on both the technology and healthcare investing teams. He is the author of HOT SEAT, a memoir of leadership in times of crisis. 

Jeff served as chairman and CEO of GE for 16 years where he revamped the company’s strategy, global footprint, workforce and culture. During his tenure, he led several innovative transformations that doubled industrial earnings, reshaped the portfolio, re-established market leadership, grew a strong share position in essential industries, and quadrupled emerging market revenue.

Jeff has been named one of the “World’s Best CEOs” three times by Barron’s. During his tenure as CEO, GE was named “America’s Most Admired Company” by Fortune magazine and one of “The World’s Most Respected Companies” in polls by Barron’s and the Financial Times. He has received fifteen honorary degrees and numerous awards for business leadership and chaired the President’s Council on Jobs and Competitiveness under the Obama administration. 

Jeff earned a B.A. degree in applied mathematics from Dartmouth College and an M.B.A. from Harvard University. He currently serves on the board for NEA portfolio companies Bloom Energy, Bright Health, Cleo, Collective Health, Desktop Metal, Formlabs, Radiology Partners, Tri Alpha Energy, and Tuya. In addition, he is on the board of Sila Nanotechnologies, Hennessy Capital, and Twilio. Jeff is a member of The American Academy of Arts & Sciences. He and his wife have one daughter.

#MillenniumLive on Bringing Together Creative & Technology Teams with ICP

#MillenniumLive welcomes Victor Lebon, Chief Innovation and Strategy Officer at ICP. Consulting some of the largest brands to achieve better marketing outcomes, ICP is at the helm for technology adoption and marketing operations. Victor shares more with us about the important role of creative and technology teams, new models of digital commerce, and leveraging ICP’s core principles to find marketing harmony.

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Watch the video interview below, or listen to the podcast episode on SpotifyAppleGoogle Podcasts, or SoundCloud.

About ICP

Modern Marketing Needs New Operational Models

For many years, most creative work has been developed using a similar process. In this data-driven and technology-enabled, post-Covid age, the move toward new delivery models is accelerating.

Global clients benefit more than ever from in-house, onsite, near-site and off-shore delivery solutions where the right work is conducted in the right place, at the right time, for the right cost.

ICP’s approach is to work with clients to find the optimum delivery model, always independent of any legacy agency model or process.

They offer creative production services, having been the first company, in 1988, to focus on decoupling the production, adaptation and localization of creative marketing materials.

As a consultancy and service provider with a unique perspective, their team of strategists is well-versed in a suite of sophisticated creative operations solutions and they believe in the power of leveraging a tailored solution to modernize their clients’ marketing.

Go here for more information on ICP’s C-Suite Marketing Solutions!

David Sable Asks, Is Our Pandemic Wardrobe Getting in the Way of Return to Office?

As originally published by David Sable on Linkedin. Subscribe to the newsletter!

As I ponder all the debate and discussion around people returning to offices, and as I watch restaurants fill and parks overflow and stores and concerts and even movie theaters begin to come back to life. I wonder…

I wonder, what is really behind the reticence to even want to accept a hybrid work week? Is it the commute? A fear of infection or crime in some cities? Is it a lack of efficiency? A desire not to have any distractions? Or is it that I hate the office? The culture. The set-up. The politics.

Some more cynical than I (hard to believe, I know), have suggested that people are getting paid more to stay out than come back. It’s summer and come mid-August, people will be looking for jobs and ready to go back. Playing this for all it’s worth, perhaps some are thinking, “why go back if they don’t demand it?”​ And on and on.

I have had a revelation. A flash of insight that I think answers this question, and I’ve decided to share it in the hopes that it can help both employee and employer come to a meeting of the minds, or more literally, put a meeting of asses in seats.

The real problem, the real issue is…I DON’T KNOW WHAT TO WEAR!

That’s it. Simple. We have a sartorial drama manifesting itself in indecision, lethargic behavior and worst of all, FASHION FEAR. Who wants to get called out by the Clothes Police, the Fabric Shamers, the Wardrobe Bullies—you get the point.

You see, we have spent a year plus lounging in our PJs and sweats. We have Zoomed in our underwear with an appropriate top, of course, (causing one or two legendary slip ups as we all know). Shoes? Dresses? Suits? Ties? What are those?

For over a year, all we bought were loose fitting comfortable clothing. And it worked. We all wore them. Those in a more fortunate financial position, in fact, spent much of their quarantine shopping online. It seems many of us bought everything, EXCEPT what we once wore to the office.

Our closets are now full of hoodies and yoga pants. And you want me to come back to work…wearing what, exactly?

Truth is sales of back to office clothing is upPeople are starting to wrestle with the notion of needing to rethink, to draw a line in the sand between sitting in my home half-hidden and being back in the office in full sight.

I also find it fascinating to see folks who are out and about dressed to be out and about (not like we were during the worst of the Plague, even if we ventured gingerly outdoors). Then again, maybe it’s because we were covered by masks and big coats, traveling incognito through the abandoned streets of our respective neighborhoods.

Three-quarters of all shoppers (75 percent) say they’re looking forward to shopping for new clothes in a physical retail location, according to Cotton Incorporated’s Coronavirus Response Consumer Survey (Wave 6, May 19th, 2021). Nearly two-thirds (65 percent) said they really missed shopping for clothes in-store. And 61 percent of respondents said shopping for clothes online is a poor substitute for shopping at a retail location.

So, what can we do to help?

How about if employers, instead of having bands in the parking lot and free Uber rides, invited retailers to the office for a personalized fashion consultation or gave gift certificates to stores like American Eagle (selfish plug…I’m on the board).

Bottom line, take the angst out of dressing for the office. It’s cheaper than therapy! The good it can do will last longer than an Uber ride.

To quote one of my favorite sources and PC Cops (please forgive the gender skew):

“Clothes make the man. Naked people have little or no influence on society.”— Mark Twain

And there you have it…

Go buy a new outfit and help change the world. What do you think?