The COVID-19 pandemic is a wake-up call for the healthcare industry. There is an opportunity to make the entire system better than before – but only if stakeholders are willing to be bold, according to Akshay Jindal and Frank Roberts, Partner and Principal, respectively, in Oliver Wyman’s Health & Life Sciences practice and Amy Zhang, Senior Consultant at Oliver Wyman. Oliver Wyman is an affiliate of Guy Carpenter.
Health plans should get in front of the change and chart their courses to future growth. COVID-19 has exposed fractures in the United States’ healthcare system that require re-evaluation. An uncertain future raises two major questions for industry stakeholders: How will you survive unemployment potentially hitting 30 percent nationwide? What will your industry look like in the future?
For businesses in healthcare (particularly health plans), brute-force approaches to cost transformation and business transformation threaten to leave organizations ill-equipped to adapt to rapidly changing industry dynamics.
