Some partnerships are more important to get right, such as payer and provider synergy. Integrated healthcare delivery systems are uniquely positioned to maximize synergy between insurance and healthcare provision. Leveraging big data across multiple healthcare touchpoints is another key opportunity. More than ever, the speed of collaboration is vital -- for instance, PPE manufacturers need to proactively coordinate with hospitals to develop and deploy critical resources. The most urgent, of course, is vaccine development and advances in diagnostic testing -- not only for COVID-19 but for future outbreaks as well. These “high mission” initiatives require extreme levels of agile collaboration As a direct economic result of the pandemic, millions of Americans have lost their jobs -- and in turn, health insurance benefits. For everyone, the journey toward recovery will be arduous and protracted. Life ratings plummeted to a 12-year low in April 2020, according to Gallup Panel data, with Americans reporting severe stress and financial worry. And even before the pandemic, a West Health-Gallup survey in early 2019 among diverse healthcare industry players. An Evolution – Not a Revolution
revealed that 45% of Americans feared a major health event would leave them bankrupt. The much-touted digital and technological advances in healthcare are necessary but cannot singlehandedly solve these endemic issues in the short term. Rather, progress requires intense collaboration among leaders from government agencies, private enterprises and research institutes. These leaders must engage the collective talent, imagination and intellect of every employee and player in the industry. Maximizing the collective impact of the combined system will require a unified approach aimed at improving the quality of care and reducing costs. Beyond that, leaders across the industry must focus on enhancing holistic patient wellbeing -- going beyond physical health to improve financial, emotional and societal wellness. Leaders need to set their gaze on collaboration and cross- sectoral synergy. Indeed, healthcare leaders of the future must be boundaryless and acknowledge and appreciate the interdependence of all healthcare players. The future of healthcare in the U.S. depends on it. n
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February 2021 | The Business Review
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