How Will COVID-19 Change the Way You Invest in Healthcare?

The current COVID-19 pandemic that has taken the world by storm, will have far-reaching impacts on the future of global healthcare systems. The way we comprehend it now is set to undergo dramatic changes over the years to come. 

In the face of mounting crises, health professionals and researchers across the world have been forced to adopt unprecedented measures to provide better care and as such have already set into motion a rapidly evolving new era of healthcare systems. 

So, take this opportunity of social distancing to get an idea of how this changing scenario will affect the way you perceive and invest in your healthcare plans. Here are some of the major changes predicted to set foot in the system, in the post COVID era.

Welcome Telemedicine

Previously you might have been hesitant about embracing telemedicine and online platforms providing the same, due to concerns over compromised quality as well as different doctor-patient dynamics compared to traditional ones. 

However, the crisis faced during the current highly contagious pandemic situation reiterates the need for these healthcare services that can provide real-time medical assistance remotely, irrespective of geographical boundaries. 

If you consider the current situation, consolidating telemedicine uniformly in the public healthcare scheme would 

  1. Reduce the tremendous load faced by hospitals 
  2. Allow better possibility to tackle logistic crunches through streamlining patients needing critical care. 

Despite the initial reluctance, it would be the right move to start embracing digitization and investing smartly in proper platforms that can guide you through primary care and assistance.

Digital Transformation

The current trend of data from patients infected with the Coronavirus shows that most of the deaths or critical conditions arising are due to comorbidity or underlying medical conditions. 

Now, imagine a future where 

  • A patient’s data is available in the database, 
  • Accessible as an open resource to both parties 
  • Can be cumulated with other such data to predict susceptibility even before the onset of the actual disease. 

Sounds cool right?

Such preparedness can change the course of future outbreaks whereby prevention is the primary focus. Of course, the question of safe data sharing arises, such that pharmaceutical companies don’t exploit your medical history in a profit-driven manner. 

Here smart investment must be made in government recognized future databases of companies previously dedicated to only insurance policies. However, the change towards this futuristic concept of data-driven preventive prognosis is inevitable in the coming years.

Personalized Medicine

It is not far-fetched to comment that the future is here. With cutting edge technology, already allowing us to monitor heart rate, sleep patterns, blood sugar levels through simple gadgets, it is not long before more such diagnostic tools will be available to us thereby reducing the need to travel to diagnostic centers. 

Soon we’ll be seeing a future where

  • Patient data generated from all these gadget-based monitors can be linked to the doctor’s server, 
  • This would allow widespread surveillance. 
  • Your doctor will be able to set a course of action for chronic medical conditions and will also be better equipped in times of emergencies. 

Chip Driven Interoperable Radicalization

This might be sounding like something really tough but actually it’s quite easy to achieve. In today’s day and age, every one of us possesses mobile phones and are connected to the internet. 

With the mentioned data-driven approach it can be said that doctors and patients will be connected holistically than ever before. 

  • Sensors in the phone can then track potential carriers and patients through community-wide surveillance performed remotely.
  • This in turn can check future pandemics from taking a catastrophic shape. 

Several countries have already implemented this, however, the inclusion of it in healthcare schemes not only provides transparency but also allows you to understand data policy in the future.

Investment in Holistic Health

It simply means that your focus should be on healthy living and lifestyle choices. Investing in such choices, ensuring proper mental, social and overall healthy living not only decreases the burden on healthcare systems but would also shift the general focus of current care policies from cure towards prevention.

Together with

  •  Future digital surveillance
  •  Doorstep healthcare services
  •  Widening of open resource databases and
  •  Prevention through healthy choices

The dynamics of your investment in health is ready for a holistic change, but definitely towards a better future, as the saying goes –

” Health is Wealth!”

One thought on “How Will COVID-19 Change the Way You Invest in Healthcare?

  1. The way health insurance is structured in the US, it’s really just a backstop when you get sick. It’s more sick-care than true health-care. We prioritize wellness and preventative medicine which, except for a generalist check-up each year, really isn’t covered. I wanted to get some nutrition counseling for weight loss but I wasn’t obese or pre-diabetic so it wouldn’t be covered. I don’t think our usage will change and in fact we’ll probably use it even less since I think it’s safer to avoid medical places now unless it’s a true emergency.

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