The current crisis is beginning to leave its mark in the form of disrupted business ecosystems, rising unemployment, consumer debt, and financial insolvency. From a healthcare perspective, the pandemic has resulted in exhausted frontline workers, revenue cuts for physician practices, and interruption in routine hospital services and supply chains. Before the onset of the virus, the healthcare systems of the world were in a vulnerable place resulting from lack of primary care, an aging population, a failing healthcare infrastructure, lack of vaccines, and the possibility of the rapid spread of diseases through unrestricted global travel.
There is no doubt that the pandemic will prove to be an agent of change for the healthcare industry including wider adoption of technologies such as telehealth and AI, agile supply chains for medical supplies, and better diagnostics for improved prognosis. In light of these circumstances, what opportunities and challenges lay ahead for payers, providers, and healthcare stakeholders?
We recommend three sets of immediate, future, and long-term actions. These recommendations are designed to address the near-term needs to stabilize the industry, reconfigure the approach and tools to address the medium-term challenges, and provide a clear roadmap around how the changes across the spectrum would impact your business. Read our point-of-view by Ed Francis our global managing partner for health and life sciences, to learn more.
Download the full Point-of-View below:
Global Managing Partner, Health and Life Sciences (U.S.)
Ed has an MBA from Syracuse University, masters in manufacturing engineering from Northwestern University and a bachelor’s degree in mechanical engineering from the US Naval Academy. He serves as an executive editor and senior industry advisor for DistilINFO supporting two publications “Healthcare Digital CIO” and “Healthcare M&A”. He also volunteers as an executive mentor for Matter Healthcare in Chicago, an incubator supporting over 200 healthcare startups.