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Work From Home Finding A Role In The Sports Business World

Work From Home Finding A Role In The Sports Business World

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Photo Credit: Brynn Anderson/Pool Photo via USA TODAY Network

For many people working in sports, long hours and an atypical work schedule were a badge of honor. 

It was often emphasized that higher-ups in an organization would notice those who were in the office before 9 a.m. and who stayed long after their peers well into the night after games. That impression would eventually lead to good first impressions and, ultimately, a path towards upward mobility.

That way of thinking has been called into question by the coronavirus pandemic. Since mid-March, when the virus eviscerated nearly every major sports league, workers in the industry were forced into a situation that their bosses – and their bosses’ bosses – had never thought possible: work from home.

Whether they are lower-level bosses or the chief executive officer of multi-billion-dollar sports franchises, many of them have learned something about their employees working from home. With just internet connection and a basic understanding of technology, people at home do not need much to get the job done outside of the company office. 

But even with studies showing that roughly 48% of workers will either be working remotely full-time or part-time, technology can only go so far in staking the claim for a permanent work-from-home policy. 

“There’ve been a lot of successes [from working from home],” Jamey Rootes, chief executive officer of the Houston Texans, said. “We proved that we can do this and that people can be highly productive in this type of environment has really opened our eyes to what our return-to -work norm could be. With a combination of office workers and remote workers or providing remote work opportunities on a periodic basis, we’ve learned that that is something that needs to be part of our considered set going forward.”

READ MORE: Tennis Channel Adjusts To New Reality Of Live Coverage

Rootes’ surprise at the effectiveness of remote work is a major step in what could be a large part of companies’ future operations. According to research firm Gartner, 70% of workers pre-coronavirus pandemic never worked from home, 20% worked remotely sometimes, and 10% always did. 

Now, more than two months since the pandemic’s outbreak in the United States, the percentage of workers who have never worked remotely has dropped to 52%. The number of employees who either work remotely sometimes or always has since risen to 29% and 19%, respectively, meaning that 48% of employees nationwide currently work from home in some capacity.

Along with the uptick in people working from home has come a rise in their confidence to work anywhere. A Glassdoor survey of nearly 1,000 U.S. workers found that 67% of them supported their employers’ decision to require remote work indefinitely. In a separate finding from the Society for Human Resource Management (SHRM) and advisory firm Oxford Economics, about 3% of 1,000 HR professionals within the U.S. said that their salaried employees were working remotely at the start of 2020; in April, that figure skyrocketed to 64%.

Over the last eight to nine weeks, Brian Kropp, group vice president at Gartner, has found that on average, employees who work from home are just as productive as those in the workplace. In that same Glassdoor survey, 60% of respondents said that they are confident they can efficiently do their job remotely, and 50% believe that they are equally or more productive at working from home than in the office.

Those both in and outside of sports have quickly grown accustomed to a fully-remote workplace. 

“There’s a lot of people out there saying we’re gonna have 70% of our employees working remotely,” Kropp said. “There’ll be some companies that end up there, but what is the more likely outcome is that you have employees that are in the office half the time and working from home half the time.”

Some companies who have gone to a work from home model have already made plans to do so indefinitely in the future, whatever the conditions.

Google CEO Sundar Pichai recently revealed that employees are likely to work from home through 2020. Jack Dorsey, CEO of Twitter, has taken it one step further by allowing employees to work from home permanently after the coronavirus pandemic. This rule does not apply to those who are physically required to be in the office, such as those who maintain servers.

Initially, Facebook announced that employees can work from home only until 2021. Now, it will start allowing some to apply to work remotely for good, with CEO Mark Zuckerberg estimating that the company could have about 50% of its 48,268 global employees working remotely in the next five to 10 years. 

Kevin Cote, Facebook’s director of sports partnerships – teams and athletes, says that his team has grown accustomed to remote work. They have often resorted to video conferencing and calls with international clients.

In his role, Cote everyday deals with the sports partners from teams to individual athletes. Since transitioning to work-from-home full-time, he has found that the cutdown from travel – whether long-distance or the daily work commute – has resulted in a strengthened relationship with Facebook’s sports clients. 

READ MORE: PLL Must Get Creative After Postponing Season Amid Coronavirus Uncertainty

“We have a steady stream of really high impact meetings every day because we aren’t traveling as much,” he said. “We work in an industry where we travel a lot, which means you have tradeoffs of meetings you can’t attend or just the grind that goes into travel time. Without that restriction, we’re actually able to be even more efficient with our time.”

Cote has also seen work-from-home open up his eyes to the daily lives of his fellow co-workers. Not being in an office with them has not prevented him from uncovering more about their lives outside of work.

“When you take [the travel] away, it opens up your day to be even more efficient when you’re working and to be on time for meetings, but also, honestly, to have empathy for everyone and what they do have going on in the rest of their lives,” he said. “I think that’s been a big eye-opening aspect to all of this for the entire industry is – even though we’re further apart, the virtual connection actually allows you to get closer together to someone to realize. Everyone has so many things going on in their life beyond just their job, and I think that’s been a big eye-opening experience through this whole process.”

There are both short and long-term benefits for the sports industry to further embrace the work-from-home trend. As of right now, most if not all Americans have been directly or indirectly affected by the coronavirus pandemic. By having employees work remotely, Kropp claims that companies will actually have a safer workplace due to the emphasis of social distancing and less person-to-person contact. 

Further down the line, Kropp says that employees – generally speaking – enjoy the flexibility of working remote. The commuting problem that both Cote and Kropp pointed out is a major factor; for instance, greater New York has the longest commute in the country at 37 minutes, wrote Business Insider. Transportation spending for those in New York totals $3,710.71 annually, and more than 1.6 million people travel to Manhattan from another county every day. As of July 2019, only 4.3% of New Yorkers worked from home.

“[Employees] like not having to worry about commuting,” Kropp said. “They like that they can work different hours when it makes sense for them, so the flexibility associated with working remotely is really desired by employees, at least kind of potential possibilities.”

Kropp says that employers are also noticing the benefits of work-from-home from a financial standpoint. For C-level employees, it is actually cheaper to have the workers under them working remotely. With fewer people arriving to work everyday, it allows companies to utilize smaller workspaces, reducing the price of important but costly bills like electricity, cleaning and, most importantly, real estate. 

Kropp has talked to numerous CFOs across various industries about the cost-saving capabilities of remote work. According to Kropp, they say that on average, a company can save up to approximately 20% of the total cost of any employee who works-from-home full-time versus those who still arrive into work. 

“Those are real savings that are out there by having employees work remotely,” Kropp said. “So the biggest rationale for doing it: you’ve got the short-term immediate response to coronavirus, but in the long-term, employees like it and CFOs like the cost savings associated with it.”

READ MORE: Sports Industry Coronavirus Primer

Just because work-from-home has been mandated by most employers does not mean they plan to see that continue. One of the biggest hurdles in the office-to-work-from-home transition is employer confidence. The majority of employers believe that much of work from home will end after the coronavirus pandemic dies down and.

Of the 3% of 1,000 U.S.-based HR professionals from the SHRM survey, all but 5% said that they expect their workforce to return to pre-crisis levels within the next six months. As of May 20, no professional sports organization has made a Twitter-esque proclamation of allowing employees to work-from-home forever. 

Even outside of sports, Kropp sees some challenges that lie ahead for remote work. He said that while data shows that out of the jobs that could be done remotely full-time, only about 10% of people actually did so, and only 20% worked remotely part-time.

“There’s a lot of jobs and a lot of tasks that can be done [remotely],” he said. “As you think about work: one on one conversations, status updates, team meetings, a lot of that can be done remotely. But, there are a set of things that we’re finding that no matter how good the remote technology is, you’re better off being together.”

People can do communication sharing via video calls, but Kropp acknowledges the difficulty in the actual collaboration during those sessions. 

In sports, a lot of the on-the-field talks center around gameplans and reviewing video. Having to do that remotely can prove to bring more headaches than solutions, Kropp said. That predicament also carries over into the front office – if people are not there to banter in-person, that limits the possibility of developing deep, meaningful relationships.

“What we found is for employees who have worked remote, it’s harder to build a social and emotional connection with your coworkers,” he said. “What we tend to find is that employees who are working remote on average report that they’re more isolated, that they don’t have as many friends network, that they don’t have as many social connections.”

Kropp points out that in sports, the personal connection within an organization is just as vital as the talent level. For people that someone likes and can connect with, they are more likely to work harder for them and keep going to their job. Those who work remotely, on average, are less likely to have those solid social networks, Kropp said. 

“A sports team is different,” he said. “You always talk about the idea of the strength of a locker room and how well those players and coaches and trainers and everyone gets along with each other. The teams that have that better team chemistry are more likely to be successful than teams that don’t. And one of the things that happens in a remote world is you’re less likely to build that team chemistry, so you’re less likely to build those social and emotional connections with your coworkers.”

Barstool Sports CEO Erika Nardini craves the in-person dialogue that she bears witness to in the office. Having moved into a new headquarters in Midtown Manhattan in 2019, Barstool has roughly 210 employees working out of there – and has quickly maxed out its capacity. While space is a front-of-mind topic now for Nardini, she is excited for Barstool’s return to the office – whenever that may be. 

“I’m sure everybody will be fighting within like 15 minutes, so I’m looking forward to that,” she said. “There will be things we have to figure out, but I think people are excited to do stuff with one another… I think you’ll see some of the stuff we started taking a new life of their own once they can happen in an office or at the studio.”

Instead of preparing for their next game, Boston Red Sox CMO Adam Grossman is – like everyone else – making the most of this work-from-home routine. Courtesy of Zoom and other technologies out there, he is at least able to see his colleagues, which has made the physical barrier easier to cope with.

Although working from home has showcased its capabilities to various employees at the Red Sox, that does not mean it would be Grossman’s first choice. 

“If we had a choice, we’d be back and working together and being in the office and bumping into each other, because there’s just no substitute for all the intangibles that go along with that,” he said. “But I do think what we’re seeing is that it’s not strictly an either or – even when we’re not together, there are pathways and opportunities to be efficient, to get a lot done and to keep pushing ourselves despite the physical limitations.”

The post Work From Home Finding A Role In The Sports Business World appeared first on Front Office Sports.

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“Extreme Events”: US Cancer Deaths Spiked In 2021 And 2022 In “Large Excess Over Trend”

"Extreme Events": US Cancer Deaths Spiked In 2021 And 2022 In "Large Excess Over Trend"

Cancer deaths in the United States spiked in 2021…

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"Extreme Events": US Cancer Deaths Spiked In 2021 And 2022 In "Large Excess Over Trend"

Cancer deaths in the United States spiked in 2021 and 2022 among 15-44 year-olds "in large excess over trend," marking jumps of 5.6% and 7.9% respectively vs. a rise of 1.7% in 2020, according to a new preprint study from deep-dive research firm, Phinance Technologies.

Algeria, Carlos et. al "US -Death Trends for Neoplasms ICD codes: C00-D48, Ages 15-44", ResearchGate, March. 2024 P. 7

Extreme Events

The report, which relies on data from the CDC, paints a troubling picture.

"We show a rise in excess mortality from neoplasms reported as underlying cause of death, which started in 2020 (1.7%) and accelerated substantially in 2021 (5.6%) and 2022 (7.9%). The increase in excess mortality in both 2021 (Z-score of 11.8) and 2022 (Z-score of 16.5) are highly statistically significant (extreme events)," according to the authors.

That said, co-author, David Wiseman, PhD (who has 86 publications to his name), leaves the cause an open question - suggesting it could either be a "novel phenomenon," Covid-19, or the Covid-19 vaccine.

"The results indicate that from 2021 a novel phenomenon leading to increased neoplasm deaths appears to be present in individuals aged 15 to 44 in the US," reads the report.

The authors suggest that the cause may be the result of "an unexpected rise in the incidence of rapidly growing fatal cancers," and/or "a reduction in survival in existing cancer cases."

They also address the possibility that "access to utilization of cancer screening and treatment" may be a factor - the notion that pandemic-era lockdowns resulted in fewer visits to the doctor. Also noted is that "Cancers tend to be slowly-developing diseases with remarkably stable death rates and only small variations over time," which makes "any temporal association between a possible explanatory factor (such as COVID-19, the novel COVID-19 vaccines, or other factor(s)) difficult to establish."

That said, a ZeroHedge review of the CDC data reveals that it does not provide information on duration of illness prior to death - so while it's not mentioned in the preprint, it can't rule out so-called 'turbo cancers' - reportedly rapidly developing cancers, the existence of which has been largely anecdotal (and widely refuted by the usual suspects).

While the Phinance report is extremely careful not to draw conclusions, researcher "Ethical Skeptic" kicked the barn door open in a Thursday post on X - showing a strong correlation between "cancer incidence & mortality" coinciding with the rollout of the Covid mRNA vaccine.

Phinance principal Ed Dowd commented on the post, noting that "Cancer is suddenly an accelerating growth industry!"

Continued:

Bottom line - hard data is showing alarming trends, which the CDC and other agencies have a requirement to explore and answer truthfully - and people are asking #WhereIsTheCDC.

We aren't holding our breath.

Wiseman, meanwhile, points out that Pfizer and several other companies are making "significant investments in cancer drugs, post COVID."

Phinance

We've featured several of Phinance's self-funded deep dives into pandemic data that nobody else is doing. If you'd like to support them, click here.

 

Tyler Durden Sat, 03/16/2024 - 16:55

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“I Can’t Even Save”: Americans Are Getting Absolutely Crushed Under Enormous Debt Load

"I Can’t Even Save": Americans Are Getting Absolutely Crushed Under Enormous Debt Load

While Joe Biden insists that Americans are doing great…

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"I Can't Even Save": Americans Are Getting Absolutely Crushed Under Enormous Debt Load

While Joe Biden insists that Americans are doing great - suggesting in his State of the Union Address last week that "our economy is the envy of the world," Americans are being absolutely crushed by inflation (which the Biden admin blames on 'shrinkflation' and 'corporate greed'), and of course - crippling debt.

The signs are obvious. Last week we noted that banks' charge-offs are accelerating, and are now above pre-pandemic levels.

...and leading this increase are credit card loans - with delinquencies that haven't been this high since Q3 2011.

On top of that, while credit cards and nonfarm, nonresidential commercial real estate loans drove the quarterly increase in the noncurrent rate, residential mortgages drove the quarterly increase in the share of loans 30-89 days past due.

And while Biden and crew can spin all they want, an average of polls from RealClear Politics shows that just 40% of people approve of Biden's handling of the economy.

Crushed

On Friday, Bloomberg dug deeper into the effects of Biden's "envious" economy on Americans - specifically, how massive debt loads (credit cards and auto loans especially) are absolutely crushing people.

Two years after the Federal Reserve began hiking interest rates to tame prices, delinquency rates on credit cards and auto loans are the highest in more than a decade. For the first time on record, interest payments on those and other non-mortgage debts are as big a financial burden for US households as mortgage interest payments.

According to the report, this presents a difficult reality for millions of consumers who drive the US economy - "The era of high borrowing costs — however necessary to slow price increases — has a sting of its own that many families may feel for years to come, especially the ones that haven’t locked in cheap home loans."

The Fed, meanwhile, doesn't appear poised to cut rates until later this year.

According to a February paper from IMF and Harvard, the recent high cost of borrowing - something which isn't reflected in inflation figures, is at the heart of lackluster consumer sentiment despite inflation having moderated and a job market which has recovered (thanks to job gains almost entirely enjoyed by immigrants).

In short, the debt burden has made life under President Biden a constant struggle throughout America.

"I’m making the most money I've ever made, and I’m still living paycheck to paycheck," 40-year-old Denver resident Nikki Cimino told Bloomberg. Cimino is carrying a monthly mortgage of $1,650, and has $4,000 in credit card debt following a 2020 divorce.

Nikki CiminoPhotographer: Rachel Woolf/Bloomberg

"There's this wild disconnect between what people are experiencing and what economists are experiencing."

What's more, according to Wells Fargo, families have taken on debt at a comparatively fast rate - no doubt to sustain the same lifestyle as low rates and pandemic-era stimmies provided. In fact, it only took four years for households to set a record new debt level after paying down borrowings in 2021 when interest rates were near zero. 

Meanwhile, that increased debt load is exacerbated by credit card interest rates that have climbed to a record 22%, according to the Fed.

[P]art of the reason some Americans were able to take on a substantial load of non-mortgage debt is because they’d locked in home loans at ultra-low rates, leaving room on their balance sheets for other types of borrowing. The effective rate of interest on US mortgage debt was just 3.8% at the end of last year.

Yet the loans and interest payments can be a significant strain that shapes families’ spending choices. -Bloomberg

And of course, the highest-interest debt (credit cards) is hurting lower-income households the most, as tends to be the case.

The lowest earners also understandably had the biggest increase in credit card delinquencies.

"Many consumers are levered to the hilt — maxed out on debt and barely keeping their heads above water," Allan Schweitzer, a portfolio manager at credit-focused investment firm Beach Point Capital Management told Bloomberg. "They can dog paddle, if you will, but any uptick in unemployment or worsening of the economy could drive a pretty significant spike in defaults."

"We had more money when Trump was president," said Denise Nierzwicki, 69. She and her 72-year-old husband Paul have around $20,000 in debt spread across multiple cards - all of which have interest rates above 20%.

Denise and Paul Nierzwicki blame Biden for what they see as a gloomy economy and plan to vote for the Republican candidate in November.
Photographer: Jon Cherry/Bloomberg

During the pandemic, Denise lost her job and a business deal for a bar they owned in their hometown of Lexington, Kentucky. While they applied for Social Security to ease the pain, Denise is now working 50 hours a week at a restaurant. Despite this, they're barely scraping enough money together to service their debt.

The couple blames Biden for what they see as a gloomy economy and plans to vote for the Republican candidate in November. Denise routinely voted for Democrats up until about 2010, when she grew dissatisfied with Barack Obama’s economic stances, she said. Now, she supports Donald Trump because he lowered taxes and because of his policies on immigration. -Bloomberg

Meanwhile there's student loans - which are not able to be discharged in bankruptcy.

"I can't even save, I don't have a savings account," said 29-year-old in Columbus, Ohio resident Brittany Walling - who has around $80,000 in federal student loans, $20,000 in private debt from her undergraduate and graduate degrees, and $6,000 in credit card debt she accumulated over a six-month stretch in 2022 while she was unemployed.

"I just know that a lot of people are struggling, and things need to change," she told the outlet.

The only silver lining of note, according to Bloomberg, is that broad wage gains resulting in large paychecks has made it easier for people to throw money at credit card bills.

Yet, according to Wells Fargo economist Shannon Grein, "As rates rose in 2023, we avoided a slowdown due to spending that was very much tied to easy access to credit ... Now, credit has become harder to come by and more expensive."

According to Grein, the change has posed "a significant headwind to consumption."

Then there's the election

"Maybe the Fed is done hiking, but as long as rates stay on hold, you still have a passive tightening effect flowing down to the consumer and being exerted on the economy," she continued. "Those household dynamics are going to be a factor in the election this year."

Meanwhile, swing-state voters in a February Bloomberg/Morning Consult poll said they trust Trump more than Biden on interest rates and personal debt.

Reverberations

These 'headwinds' have M3 Partners' Moshin Meghji concerned.

"Any tightening there immediately hits the top line of companies," he said, noting that for heavily indebted companies that took on debt during years of easy borrowing, "there's no easy fix."

Tyler Durden Fri, 03/15/2024 - 18:00

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Sylvester researchers, collaborators call for greater investment in bereavement care

MIAMI, FLORIDA (March 15, 2024) – The public health toll from bereavement is well-documented in the medical literature, with bereaved persons at greater…

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MIAMI, FLORIDA (March 15, 2024) – The public health toll from bereavement is well-documented in the medical literature, with bereaved persons at greater risk for many adverse outcomes, including mental health challenges, decreased quality of life, health care neglect, cancer, heart disease, suicide, and death. Now, in a paper published in The Lancet Public Health, researchers sound a clarion call for greater investment, at both the community and institutional level, in establishing support for grief-related suffering.

Credit: Photo courtesy of Memorial Sloan Kettering Comprehensive Cancer Center

MIAMI, FLORIDA (March 15, 2024) – The public health toll from bereavement is well-documented in the medical literature, with bereaved persons at greater risk for many adverse outcomes, including mental health challenges, decreased quality of life, health care neglect, cancer, heart disease, suicide, and death. Now, in a paper published in The Lancet Public Health, researchers sound a clarion call for greater investment, at both the community and institutional level, in establishing support for grief-related suffering.

The authors emphasized that increased mortality worldwide caused by the COVID-19 pandemic, suicide, drug overdose, homicide, armed conflict, and terrorism have accelerated the urgency for national- and global-level frameworks to strengthen the provision of sustainable and accessible bereavement care. Unfortunately, current national and global investment in bereavement support services is woefully inadequate to address this growing public health crisis, said researchers with Sylvester Comprehensive Cancer Center at the University of Miami Miller School of Medicine and collaborating organizations.  

They proposed a model for transitional care that involves firmly establishing bereavement support services within healthcare organizations to ensure continuity of family-centered care while bolstering community-based support through development of “compassionate communities” and a grief-informed workforce. The model highlights the responsibility of the health system to build bridges to the community that can help grievers feel held as they transition.   

The Center for the Advancement of Bereavement Care at Sylvester is advocating for precisely this model of transitional care. Wendy G. Lichtenthal, PhD, FT, FAPOS, who is Founding Director of the new Center and associate professor of public health sciences at the Miller School, noted, “We need a paradigm shift in how healthcare professionals, institutions, and systems view bereavement care. Sylvester is leading the way by investing in the establishment of this Center, which is the first to focus on bringing the transitional bereavement care model to life.”

What further distinguishes the Center is its roots in bereavement science, advancing care approaches that are both grounded in research and community-engaged.  

The authors focused on palliative care, which strives to provide a holistic approach to minimize suffering for seriously ill patients and their families, as one area where improvements are critically needed. They referenced groundbreaking reports of the Lancet Commissions on the value of global access to palliative care and pain relief that highlighted the “undeniable need for improved bereavement care delivery infrastructure.” One of those reports acknowledged that bereavement has been overlooked and called for reprioritizing social determinants of death, dying, and grief.

“Palliative care should culminate with bereavement care, both in theory and in practice,” explained Lichtenthal, who is the article’s corresponding author. “Yet, bereavement care often is under-resourced and beset with access inequities.”

Transitional bereavement care model

So, how do health systems and communities prioritize bereavement services to ensure that no bereaved individual goes without needed support? The transitional bereavement care model offers a roadmap.

“We must reposition bereavement care from an afterthought to a public health priority. Transitional bereavement care is necessary to bridge the gap in offerings between healthcare organizations and community-based bereavement services,” Lichtenthal said. “Our model calls for health systems to shore up the quality and availability of their offerings, but also recognizes that resources for bereavement care within a given healthcare institution are finite, emphasizing the need to help build communities’ capacity to support grievers.”

Key to the model, she added, is the bolstering of community-based support through development of “compassionate communities” and “upskilling” of professional services to assist those with more substantial bereavement-support needs.

The model contains these pillars:

  • Preventive bereavement care –healthcare teams engage in bereavement-conscious practices, and compassionate communities are mindful of the emotional and practical needs of dying patients’ families.
  • Ownership of bereavement care – institutions provide bereavement education for staff, risk screenings for families, outreach and counseling or grief support. Communities establish bereavement centers and “champions” to provide bereavement care at workplaces, schools, places of worship or care facilities.
  • Resource allocation for bereavement care – dedicated personnel offer universal outreach, and bereaved stakeholders provide input to identify community barriers and needed resources.
  • Upskilling of support providers – Bereavement education is integrated into training programs for health professionals, and institutions offer dedicated grief specialists. Communities have trained, accessible bereavement specialists who provide support and are educated in how to best support bereaved individuals, increasing their grief literacy.
  • Evidence-based care – bereavement care is evidence-based and features effective grief assessments, interventions, and training programs. Compassionate communities remain mindful of bereavement care needs.

Lichtenthal said the new Center will strive to materialize these pillars and aims to serve as a global model for other health organizations. She hopes the paper’s recommendations “will cultivate a bereavement-conscious and grief-informed workforce as well as grief-literate, compassionate communities and health systems that prioritize bereavement as a vital part of ethical healthcare.”

“This paper is calling for healthcare institutions to respond to their duty to care for the family beyond patients’ deaths. By investing in the creation of the Center for the Advancement of Bereavement Care, Sylvester is answering this call,” Lichtenthal said.

Follow @SylvesterCancer on X for the latest news on Sylvester’s research and care.

# # #

Article Title: Investing in bereavement care as a public health priority

DOI: 10.1016/S2468-2667(24)00030-6

Authors: The complete list of authors is included in the paper.

Funding: The authors received funding from the National Cancer Institute (P30 CA240139 Nimer) and P30 CA008748 Vickers).

Disclosures: The authors declared no competing interests.

# # #


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