The Return of Elective Surgeries is Projected to Boost Medtronic Moving Forward
Following many elective surgeries being put off as hospitals across the nation struggled with rising COVID-19 (coronavirus) cases and labor shortages, Medtronic PLC (Medtronic) benefitted in the fourth quarter of 2021, from elective procedures making a recovery as virus cases fell. Moving forward, the company remains optimistic that an elective surgery rebound will continue to occur, despite hospitals being projected to struggle with labor shortages until 2023. To resolve shortages, Medtronic expects hospitals to employ temporary staffing and also use technology such as remote monitoring.
COVID|New Activity|ESGIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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