Across the healthcare industry, COVID-19 revealed a system entrenched in a static business model. In this video, Guidehouse expert and leader of our health strategy and innovation solutions, Dennis Butts, discusses the state of healthcare and lessons learned.
Healthcare is fundamentally a low-margin business, and entering 2020, health systems struggled on many fronts.
Going forward, there are clear lessons to learn and things to do differently.
First, healthcare leaders must become more agile in their planning and operations. The horizon for healthcare initiatives has shifted from years to months.
Second, many people have deferred care and screenings, resulting in a “health debt.” Industry stakeholders need to make better use of data and analytics to understand diverse populations and minimize risks to compliant and accessible care.
Third, leaders should shift the focus from the size of their networks to their cohesion. Agility, flexibility, and quality depend on highly reliable participants working harmoniously.
Finally, evolving payment models that focus on value are the future. Healthcare leaders should shore up their balance sheets and position their organizations for long-term sustainability in value-based payment.
The ability to come out of a year unlike most has given the industry an opportunity to look deeper at the cracks.
These lessons learned have given us the blueprint to take on the challenges that can move healthcare forward for everyone involved–providers, payers, and patients.
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