News Day: Cost of Covid – Business of Healthcare – Learnings Thus Far
April 21, 2020: Welcome back to another Tuesday Newsday! This week we are covering a few stories reflecting on the current pandemic and these include perspectives from some leading CIOs in the space with insight that you are not going to want to miss. The first piece we we look at was published by AHIP and features a study by Wakely around the potential financial costs of the COVID-19 crisis. These range from around $50 billion to $550 billion, so the range is still wide and one might say the findings are not very clear as of yet. Then we turn to an article on the problems many are experiencing with their health insurance currently. At this point many of the population have lost their coverage and this shows no signs of slowing down; this is a crisis on top of a crisis and obviously could not come at a worse time for those affected. The last article we look at comes from Beckers and focusses on perspectives from several top health systems CIOs, where they were asked to share lessons and advice borne from this time of crisis. A number of these CIOs have been guests on the show and Bill shares a bunch of helpful insight that is featured in the article, so make sure to stay tuned for that part of the episode!
Key Points From This Episode:
- The predicted costs of COVID-19 to the healthcare sector; a study by Wakely.
- Intersecting issues of the pandemic and health insurance — who will lose their coverage?
- Anger over the way financial aid is being dispersed to hospital during the crisis.
- How these financial concerns affect everyone in the healthcare technology space.
- The message that health leaders should be taking from this pandemic: strategies come from the business!
- Beckers’ survey on top health CIOs and their priorities and advice amid the crisis.
- The integration of IT with the rest of a healthcare organization.
- Great responses from carriers for the necessary increases in bandwidth for healthcare.
- The inspiring and creative uses of technology we have seen across the board.
- Areas in healthcare that should receive a renewed emphasis; efficiency, interoperability and more.
- Amazing feats in communication and other success stories from this crisis.