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TD Bank Survey: Medical Professionals Anticipate Revenue Growth; Concerned About Politics

"Given the uncertainty within the broader U.S. political climate and continued scrutiny around healthcare policy, it is not surprising that practitioners have heightened concerns about healthcare legislation and insurance reimbursement."

Originally Published by TD Bank.

Medical practitioners are optimistic about their practices' finances but remain concerned about the impact of politics on the American healthcare industry, finds a survey released today by TD Bank, America's Most Convenient Bank®.

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TD Bank’s “Unexpectedly Human” Brand Campaign Aims to Redefine Banking

At TD, we pride ourselves on delivering customized, seamless experiences that feel local and authentic."

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Originally Published by TD Bank.

TD launched its Unexpectedly Human brand campaign, which shows how the bank prioritizes modern convenience and customer centricity, while elevating its focus on local communities and small businesses. Developed with a sense of humor and healthy dose of humanity, the campaign celebrates the bank's reputation as a customer service innovator with a distinct culture.

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TD Community Development Corporation Supports Expansion of Phoenix Packaging with $15 Million in New Markets Tax Credits

"TD is deeply committed to the communities it serves, and we're proud to support socially and environmentally responsible companies like Phoenix Packaging."

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Originally Published by TD Bank.

TD Community Development Corporation (TDCDC), a wholly-owned subsidiary of TD Bank, N.A., today announced that it allocated $15 million in New Markets Tax Credits (NMTC) to assist in the approximately $50 million expansion of Phoenix Packaging Operations, LLC, a minority-owned packaging company located in Dublin, Virginia.

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TD Bank Ranks No. 1 for SBA Loans in 8 States & Washington, D.C.

"Small businesses are an economic force in many communities, and TD is well-positioned to help these businesses thrive and grow."

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Originally Published by TD Bank.

TD Bank, America's Most Convenient Bank®, increased its U.S. Small Business Administration (SBA) lending portfolio in 2018 to take the position as top lender in eight states and in Washington, D.C., up from seven states in 2017. In addition, TD Bank ranked second nationwide for number of 7(a) loan units approved during the SBA's fiscal year.

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TD Bank Celebrates International Day of Persons with Disabilities

Whether it is about mental health challenges or physical disabilities, the sharing reminds us of the benefits of human experience in growing the leaders of the future—more resilient and determined, more empathetic and patient.

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Originally Published by TD Bank.

December 3 was International Day of Persons with Disabilities, aiming to promote the rights and well-being of individuals with disabilities in all spheres of society and development. As part of TD Bank's commitment to inclusive hiring, the bank has partnered with Getting Hired, an online recruitment solution dedicated to helping employers hire professional individuals and veterans with disabilities. Kelley Cornish, Global Head of Diversity & Inclusion at TD, sat down with Getting Hired to discuss disability inclusion, what it means to her, and how TD is leading the way in this important initiative.

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Millennials Most Likely to Start the New Year Off Merry, Finds TD Bank Survey

"It's always important to understand your budget – especially during this time of year, when it's so easy to overspend."

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Originally Published TD Bank.

This holiday season, millennials (ages 20-37) are most likely to create a spending plan, stick to it (76 percent) and pay off balances in full before the New Year (49 percent) – according to TD Bank's Merry Money Holiday Spending Survey.

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TD Bank Supports Maine State Housing Authority through Bond Purchase

"This bond purchase will allow us to provide additional, much-needed affordable housing opportunities. An aging population and healthy job growth have contributed to an increasing need for affordable housing in Maine."

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Originally Published by TD Bank.

TD Bank, America's Most Convenient Bank®, announced that its Commercial Lending Group in Maine closed a $40 million direct bond purchase for the Maine State Housing Authority (MaineHousing). The proceeds of the bonds were used to refund prior bonds that had financed multi-family housing projects in the state. Jay Violette, Senior Relationship Manager in TD Bank's Commercial Lending Group, closed the deal.

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TD Bank Employee Gets Personal about Veterans and Mental Health

Anna Kelley, a Project Manager at TD Bank—and U.S. Air Force veteran—gets real about her service, her mental health challenges and why it's so important for companies to actively recruit veterans.

Originally Published by TD Bank.

My military service has had a significant impact on my career path. When I started working for TD, I began to understand how the skill sets I developed and learned in the military transferred over to many different roles within the Bank. What I learned in the military has helped me be able to work side by side with many people in different LOBs , drive work progress forward, and provide a high quality output of work, while never compromising my integrity. The military also prepared me to step up as a leader when necessary, but also have no problem being a team player and taking orders to get tasks completed.
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TD Bank: Expands Urban Citizen Canopy Program with TreePhilly

"Tree benefits go far beyond beautification, they bring cooling shade and improve air quality. TD, through TreePhilly ,TD Tree Days and other environmental initiatives is on track to plant one million trees by 2030."

Originally Published by TD Bank.

TD Bank announced an expanded partnership with TreePhilly, a program of Philadelphia Parks & Recreation alongside Fairmount Park Conservancy, that helps Philadelphia residents access resources to plant and care for trees on both public and private property throughout the city. To date, TreePhilly has exclusively focused on the 'citizen canopy' through its distribution of free private yard trees. Since 2012, TreePhilly has distributed 21,500 yard trees at 184 giveaway events across the city.

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TD Bank: 3 Trends Healthcare CFOs Need to Watch

CFOs at healthcare institutions need to have a strategic, seasoned financial partner to help navigate operational complexities, brings deep industry connections and expertise, and provide product solutions that support the healthcare organization.

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Originally Published by TD Bank.

By Emmet Conlon, Head of Institutional Healthcare and Higher Education, TD Bank

Chief Financial Officers (CFOs), Treasurers and financial decision makers for healthcare organizations are now required to manage a myriad of responsibilities while acting nimble and innovating in a rapidly changing environment. The technological, regulatory, labor and care provisioning models are changing so quickly that adaptability is a key priority for the industry. All of these changes present operational challenges that require CFOs to manage disparate stakeholders and systems across the entire enterprise while enabling a seamless and cost-effective patient experience.

Here's a closer look at a few of the issues healthcare CFOs are placing at the top of their priority lists:

Reducing labor shortages and surging salaries

Due to the increases in labor and supply chain costs, expenses exceeded revenues for nonprofit and public hospitals for the second straight year in 2017. The salary for medical workers is steadily increasing year over year. According to the annual Health eCareer's Salary Guide 38% of the 20,000 healthcare workers polled saw their salaries increase and 41 percent reported it increased over one year ago in 2017.

Despite salary increases the healthcare industry is experiencing a shortage of nurses in certain parts of the country. In fact, according to a report by the U.S. Department of Health and Human Services, the following states are predicted to have the biggest shortage in the next 10 years: California, Texas, New Jersey and South Carolina.

This issue is requiring hospitals to hire temporary nurses which require higher compensation either through salaries or large up-front "sign-on" bonuses. CFOs are evaluating ways to enhance loyalty and retention of its physician and nursing healthcare providers by incorporating well-being programs, holistic employment plans and other benefits beyond cash compensation. For example, certain hospital and health systems have built or engaged partners to develop tax-efficient deferred compensation plans for physicians. They may also offer behavioral and mental health programs on-site or discounted childcare, and tuition reimbursement. Hospitals are also investing in tracking and benchmarking platforms to analyze labor data. CFO's can utilize this data to proactively plan for busier time periods and bring on additional staff on a time needed basis.

Stabilizing the rising cost of branded pharmaceuticals and consumable supplies

While supply chain costs comprise only one-third of the average hospital's operating expenses, it is expected they will surpass labor costs as the leading expense by 2020, according to projections by the Association for Healthcare Resource & Materials Management. A majority of operating expenses, stem from the escalating costs of pharmaceuticals and consumable supplies. According to a study by Blue Cross and Blue Shield Association prescription drug prices rose 10 percent annually between 2010 and May 2017. The study also indicated that branded drugs with no generic alternatives are rising at an average annual rate of 25 percent, a total of 285% since 2010. .

Care protocols and streamlining of physician drug prescription preferences can help address this issue for CFOs along with an integrated or highly-selective pharmacy network. CFOs should work closely with physicians to identify which medications require branded versions versus generic alternatives. In addition, educational programs can be put in place so physicians can inform patients on the importance of requesting generic versions of branded pharmaceutical drugs which lower costs for the entire healthcare ecosystem.

On top of rising drug prices, the small market for healthcare consumable supplies is impacting acute care systems' bottom line as well. Most health systems have established or joined one or more group purchasing organizations (GPOs) to negotiate more competitive prices on consumable products. Ongoing and increasing savings are available by improving the monitoring of all purchasers to ensure GPO discounts driven by volume targets are recognized and paid. CFOs must also remain vigilant to ensure that purchasing "leakage" outside the GPO contract is eliminated. GPOs also offer analytical tools that identify cost cutting strategies and inventory management solutions. Over the next decade, GPOs are projected to save the healthcare industry between $392.2 and $865.5 billion.

Investing in the right technology

It's understandably difficult for CFOs to strike a balance between cost cutting and investing in the latest technology. However, it's imperative that CFOs allocate personnel and financial resources toward innovation. Updating technology can improve patient care and also make health systems more efficient.

For single-site or community health systems that may be on a tighter budget, CFOs can prioritize their most critical technology needs and invest accordingly. For example, consider making investments in equipment replacement that is beyond its useful technological life or in a service line with the largest patient volumes.

Financial decision makers in the healthcare industry will need to work diligently to keep pace in this rapidly evolving environment. It's a good time to evaluate ways to "unlock" capital for redeployment into some of the initiatives identified above. Now more than ever before, it's imperative for CFOs at healthcare institutions to have a strategic, seasoned financial partner to help navigate operational complexities, brings deep industry connections and expertise, and provide product solutions that support your healthcare organization.

TD Bank Announces Changes to Diversity and Inclusion Team

"Diversity and inclusion are core values at TD, and part of our strategic advantage," said Tara Deakin, Senior Vice President Talent, TD Bank Group.

Originally Published by TD Bank.

TD Bank, America's Most Convenient Bank, announced that Kelley Cornish, Head of U.S. Diversity and Inclusion for TD Bank, has been promoted to Head of Global Diversity and Inclusion for the TD Bank Group effective Nov. 1. In this capacity, Cornish will expand the bank's efforts to promote diversity throughout the U.S. and Canada, implementing and delivering its enterprise D&I strategy, with a focus on building and measuring workforce representation and extending accountability for inclusion across the organization.

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TD Bank Celebrates Hispanic Heritage Month

Latinos are always eager to learn, grow and establish a solid ground wherever they go...this is so we're able to also accomplish our dreams and goals.

Originally Published by TD Bank.

TD Bank is committed to recognizing the contributions of employees with Hispanic backgrounds. Below, TD Bank employee Amaralys Torres shares her experiences as a part of this community, and explains how her background has influenced her personally and professionally.

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