Impact of COVID-19 on the Healthcare Industry

Winds of Change

Every industry has been affected by the COVID-19 virus in some way or the other. While most of the industries fell victim to the adverse impact of the virus, healthcare industries have suffered the most since the outbreak. The healthcare space has seen new ups and downs in recent times, making it a completely different industry than what it was before the coronavirus outburst.

Economically the healthcare space has never faced a recession of any sort. However, the coronavirus has made things tough for the healthcare industry, as well as the lack of manpower to deal with the rising cases was difficult at the peak time of the pandemic. The COVID-19 pandemic certainly cost the human race a lot of lives, but it has also impacted the healthcare space in ways that might have just revolutionized the whole industry.

These tough times inspired innovative ways of working in the industry, and the impact it had was simply remarkable and noticeable. In a way, the coronavirus outbreak triggered the radical changes that were needed in the healthcare industry. The impact of a virus forced the healthcare industry to change for good.

Mobilized Resources

Mobilized resources have made a difference in the current situation. The new normal was accepted by everyone, and despite the ease in the regulations, the modern resources are what most people and doctors prefer. Telehealth, which was yet to become a norm before the global coronavirus pandemic, grew rapidly 40 percent in just one year. Health care providers and patients relied more on video conferencing, emails, SMS, telephones, and other means to provide healthcare facilities. As the lockdown across the world restricted everyone’s movement. The one who has benefitted from these innovative approaches of the doctors were pregnant women, kids, and senior citizens.

Before and After Effect of COVID-19

  • Telehealth: Many things changed in the healthcare industry after the outbreak. The most remarkable one was Telehealth. Earlier it was projected that the telehealth sector of the industry would grow up to 39 percent by 2025. However, the unpredictability of the coronavirus boosted the growth to 150 percent in the upcoming year.
  • Infrastructure: Apart from the dependency of the telehealth means of providing healthcare, the healthcare sector also sought to solve the need for infrastructure. Investments from the government and the management improved the infrastructure of not just hospitals but also the surroundings. Despite the spending on health services dropping drastically, the improvements in the infrastructure and the sector as a whole made the difference.New tools, adoptions of new machinery, and adapting to the new normal also allowed the healthcare sector to focus more on educating and training. Since the infrastructure was improved with improved equipment, the aftereffect of that was the rise in employment in the sector. The coronavirus pandemic also showed the world the importance of training and education, as it helped many professionals to deal with the disease more proactively. This helped the healthcare sector to provide sound healthcare options.
  • Retention of healthcare professionals: The most significant before and after effect of the COVID-19 was the pricing and retaining of healthcare professionals. Since the pricing and the spending was down, many patients across the globe retained their healthcare experts. The World Health Organization reported the shortage of 6 million nurses in one of their recent reports. Before 2020, the healthcare industry never had such a gap for healthcare professionals was not created.


The change in approach for patients

Patients are also an integral part of the healthcare industry. The world has witnessed the adverse effects of the coronavirus, which changed the approach of patients. The end-user became more aware and conscious about health. The new technology provided the tools that were needed for the patients to keep track of their health easily and without consulting any doctor.

The COVID-19 saw a rise in the use of electronic devices like a thermometer, watches, bands, etc. these devices not only help in keeping track of the health but also warn the user before any mishappening.

Healthcare is adversely affected because of the ongoing coronavirus pandemic. Though the resistance in the process, the healthcare space has carved an opportunity for itself. The impact of COVID-19 on the healthcare industry has only made the industry better and educated the whole sector.

The virus is here to stay for a while, but the impact it has had on the healthcare sector is long-lasting and revolutionizing. The new methods of providing health care services like Telehealth or the use of modern wearable technology is here to stay. Apart from that this COVID-19 pandemic also showed us how dedicatedly the healthcare industry works at the time of need, and that is surely one of the major impacts that will often go unnoticed.