How will COVID-19 impact the health care industry? Chicago health care leaders share their perspectives on the coronavirus pandemic and how it will shape the future of care.
Moderator
- April Schweitzer, Counsel, Nixon Peabody LLP
Panelists
- Earl Barnes, Executive Vice President and Chief Legal Officer, AMITA Health, Dr. John Hanlon, President, OSF HealthCare Little Company of Mary Medical Center
- Nicole Kazee, Senior Vice President, Strategy and Business Development, Erie Family Health Centers
- Gordy Sofyanos, Senior Vice President, Kaufman Hall
Key takeaways
- As we move forward following the initial surge of COVID-19 cases in the Greater Chicago area, health care organizations are focused on strategies to safely streamline care delivery and maintain liquidity in hopes to be best positioned to mitigate financial risk as they brace for potential subsequent surges. One standout differentiator we’ve seen throughout the pandemic—systems with more risk contracts in place fared better than those providers who have been more conservative with contracting.
- Patient fears of obtaining non-emergent health services appear to be easing—in the past two weeks, many Chicago-areas providers have seen an increase in face-to-face visits along with an uptick in elective
- There is no question COVID-19 has commanded transformation within the health care industry. Patients are forced to think differently about accessing health care, and providers about delivery. From pivots in ongoing infrastructure projects to be better equipped for future surges and shifts to the outpatient side of care, to rethinking the use of clinic space in care facilities and increased investment in technology and digital care strategies, lasting change to care delivery and investment within the industry will come as a result.
- While digital care including telehealth and home diagnostics are viable options for delivering many services, it’s clear regulators need to promulgate long-term regulations for reimbursement for providers to succeed in a post-COVID digital health care environment.
- One sure effect of the pandemic—increased consolidation across the health care industry. The impacts of the pandemic—including shortages of PPE, ventilators, staffing, etc.—have crippled many physician practices as well as standalone hospitals.