The U.S. healthcare system is in a state of emergency.
Gallup 2020 data show that only 19% of Americans are "very satisfied" with the quality of medical care in the U.S., a figure that has remained largely constant over the past two decades.
And compared with other developed nations, the U.S. ranks highest on chronic disease burden, lowest on access to care and lowest on health system quality -- despite annual national health spending of $3.6 trillion ($11,172 per person).
These problems make post-COVID recovery strategies even more critical. To recover financially, healthcare leaders must unite, collaborate with leaders from other industries and reevaluate traditional practices.
There is no doubt that healthcare leaders have responded to the COVID-19 pandemic heroically, with many using this painful opportunity to embrace new learning and prepare for the next inevitable crisis.
For example, COVID-19 has accelerated much-needed change, such as the digital and technological transformation that many healthcare organizations were trying to actualize before the crisis.
But healthcare leaders still find themselves in a precarious position due to considerable revenue loss. The American Hospital Association predicts that the financial strain on hospitals and health systems due to lower patient volumes "will continue through at least the end of 2020" -- a likely total loss of $323 billion in 2020.
Gallup has conducted research in the field of healthcare for decades, including just before and during the pandemic. A recent review of this research uncovered five forces that are paramount for any healthcare organization's survival -- through the current crisis and beyond.
FIVE FORCES THAT WILL INFLUENCE HEALTHCARE
1. Value based healthcare will change
2. Disruptions in healthcare will be ongoing
3. Healthcare will become more virtual
4. Healthcare organizations will merge
5. The healthcare ecosystem will expand beyond traditional vendors
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