Why health care sector needs a complete structural overhaul
Pandemic has forced private operators to confront new realities
The UAE health care sector is adapting to the postCovid- 19 environment — but we are still licking our wounds. The Covid- 19 pandemic exposed inadequacies in our health care systems and brought even the most developed countries to their knees.
Though we can boast of excellence, our preparedness to meet the overwhelming requirements to handle a pandemic is stillawork inprogress. There is a lot of learning.
The health care sector thus needs a complete structural overhauling.
The focus post- Covid would be more to have a conscious approach towards cutting down direct costs, mainly through optimising efficiency levels of human resources, overheads, material costs, and stricter controls on cash flows. All without compromising on the quality and protecting the safety of our patients and staff.
Investments towards maintaining quality and hygienewill fall in as a significant piece in the profit and loss statement. Having a robust tele- health facility and home care will also be our priority. There are improvements happening in terms of payment by insurance companies and the speed of the payments.
With a colossal decline in outpatients to hospitals and clinics, the fortunate few that were unscathed during the pandemic are the insurance companies. The business is opening up entirely, and the momentum is picking up steadily. Insurance is supporting uswith quick approvals and clearing the backlog.
With diagnosis- related group payment getting implemented in the next couple of months, substantial job cuts across various industries and the opting of lower premium packages for employees, we will have to wait and watch the impact on the insurance system.
Canadian Specialist Hospital is ready 100 per cent post- Covid19 ... as it has been before the pandemic. Most of the elective procedures deferred during the peak of the pandemic are coming back. Once the international arrivals open up, we will expect our medical tourists back.
More learning to do
The other learning is that it is essential we don’t stick to just private health, but also learn to deal with public health.
The crisis has had a significant impact on the health care revenue cycle, exposed patients to financial perils as layoffs became widespread, and add in the stigma of visiting a hospital due to safety factors. It has resulted in substantial financial strain across sectors.
The government should help the bleeding health care industry with waivers and reduce interest rates to cope with the current situation. It is essential to have strict controls on cash flow and operational costs.
We must have lean management and improve efficiency levels. We have to wait to see how the market is going to evolve and sustain health care brands.
Investments towards maintaining quality and hygiene will fall in as a significant piece in the profit and loss statement. Having a robust tele- health facility and home care will also be our priority.