NEPC recently hosted the second webinar in our Healthcare Innovation Leaders Series.
In this series, members of our healthcare and research teams discuss changes, opportunities and challenges healthcare systems will likely face in the aftermath of COVID-19.
In this installment, Harry Glorikian, author of “Moneyball Medicine: Thriving in the New Data-Driven Healthcare Market,” and a general partner at Scientia Ventures, joined us to share his views on the direction of the healthcare industry, new trends, and the way healthcare organizations are redefining strategic investing in an era of technological disruption.
We present the recap.
EXTENSIVE DISRUPTIONS TO HEALTHCARE
COVID-19 has had a dramatic impact on the country and its healthcare system.
An estimated 18 million individuals stopped receiving employer-sponsored healthcare coverage, and through June1, hospitals lost an estimated $200 billion2.
As a result, Glorikian anticipates that the world of healthcare will experience three significant shifts following the COVID-19 pandemic:
- There will be a move to government-funded insurance programs from commercial insurance.
- Funding for Medicare from payroll taxes will change due to pandemic-related job losses, requiring the government to find a more sustainable funding source.
- Individual states will have less tax revenue to pay for Medicaid programs for the poor, creating financial stress.
Ultimately, these changes will result in a significant loss of revenue for healthcare systems. Hospitals already have high fixed costs and thin operating margins. Lower government insurance compensation will likely squeeze those margins further
THE EMERGENCE OF TELEHEALTH
The number of patients going to hospitals for care will probably not return to pre-pandemic levels.
The rapid rollout and success of telehealth have caused some to question whether certain medical appointments are necessary to conduct in person. This acceleration of the de-hospitalization of care has the potential for tremendous cost savings, but it could wreak havoc on hospitals’ bottom lines.
To read the full blog on this topic please visit: https://www.nepc.com/insights/nepcs-healthcare-innovation-leaders-series-redefining-strategic-investing-in-an-era-of-technological-disruption-with-new-ventures-funds?utm_content=141141092&utm_medium=social&utm_source=linkedin&hss_channel=lcp-28060
Where we discuss how strategic investments in this new era of technology is changing.
To see the recorded talk please see: https://glorikian.com/nepc-redefining-strategic-investing-in-an-era-of-technological-disruption/