How Can COVID-19 Positively Impact Healthcare Transformations? By Benjamin Gordon Palm Beach

Everyone knows about the adverse effects of the pandemic on several areas of life, from global healthcare systems crumbling down to people getting infected and dying to the economy facing its worst times. Amidst this, what may have eluded your attention is the adoption of telehealth. In 2019, virtual healthcare services were still a work-in-progress for many practitioners and hospitals. However, post-COVID-19, it has witnessed radical expansion. Before the virus outbreak, telehealth was growing at a compound rate of over 28%, which is presently almost 40%. Besides, getting investment for the digital shift was also complicated. Healthcare organizations, budget holders, and others also didn’t have any motivation. But, reimbursement models and increasing use of virtual care services have effectuated proactive developments. 

While technological intervention is a welcome change, the healthcare system has to rise above it to transform completely. Here is a quick view of the other areas in this context.

Benjamin Gordon Palm Beach: Factors Leading to Healthcare Transformations

Public-Private Partnerships

As a traditional industry, healthcare has been fraught with infrastructure deficiencies and intricate regulations. All these affect timely decision-making and the adoption of disruptive tools. Big industry talks about interoperability and safe data transfers. In the face of COVID-19, authorities relaxed some regulations in this regard. They allowed an exchange of health information between systems. As a result, the government, healthcare industry, and health institutions could share COVID-19 patient information through a common portal to better handle the situation.

Healthcare Costs

Benjamin Gordon Palm Beach talks about reducing healthcare expenses. Experts speculated the healthcare spending in the US to be 5.4% per annum in the pre-pandemic era. It means it would have touched $6.2 trillion by 2028, constituting almost 20% of GDP. Once the situation improves, private players, employers, and the government will focus on bringing down healthcare expenditure through new payment models. 

You can think of Value-based care (VBC) models, for example. Under this payment system, healthcare providers can expect rewards for their quality of work instead of the number of services they deliver. While it can be a slow process in the short term, the VBC models look promising for the future, especially with the rapid increase in telehealth and connected care.

Healthcare Professionals

The overstretched healthcare systems have left clinicians frustrated during the pandemic. People are even considering opting out of this profession. As per World Health Organization, there is a shortage of almost 6 million nurses worldwide. The need to train and retain healthcare professionals wouldn’t have got such large-scale attention if the COVID-like situation was not there. 

Elective Care

Due to the infectious and harrowing COVID-19 virus, patients with cancer, heart illness, and stroke have to postpone their procedures. The number will keep adding up, making the availability of elective care essential. An early-stage cancer patient cannot afford to delay their treatment indefinitely. They need to get access to a planned procedure soon. So, you can expect considerable efforts in this area too.

The fight against coronavirus is on, and the healthcare industry and government, along with medical staff, have the most critical role in curbing this.