COVID-19 has been relentless for healthcare supply chain teams. A never-ending series of shocks have resulted in rising costs (the average ICU’s medical supplies increased in cost by 31.5% since 2019[i]) and decreasing fill rates (healthcare fill rates are resting at around 82%[ii]; the average hospital dealing with 800 to 1,000 backorders per day[iii]). These and other acute supply chain challenges make hospitals more dangerous places to receive care.[iv]
EO 14017 instructed the US government to comprehensively review critical US supply chains to identify risks, address vulnerabilities, and develop resilience strategies. The report was released in June after an analysis that extended across the FDA, HHS, and a dozen other federal agencies.
2021 will see a maturation of many of the novel solutions introduced in 2020. As a result of the pandemic, the ways we communicate, the ways we move and manage data, the ways we transfer money and the ways we invest will ultimately become a lot smarter as we fuse old and new ways of doing business.
Validating the identity and credentials of healthcare practitioners poses significant revenue cycle, recruiting, physician relations and access challenges for all healthcare organizations.
Our healthcare system is at an inflection point. The optimistic perspective is that it now seems more likely that the industry can come together to address many longstanding challenges that have traditionally limited our ability to deliver care in more efficient, effective ways. To succeed, innovators and enterprises need to shift from scaling up systems of record for enterprises to creating systems of shared record for collaborative networks. This transition represents the greatest healthcare opportunity in a generation.
At Hashed Health, our mission has always been to produce solutions that solve the most challenging problems in healthcare. We believe that the most impactful solutions over the next ten years are those that promote collaboration and shared value, which is why we have a specific focus on blockchain and distributed ledger technologies.
Before coronavirus, virtualization was trendy. A Global Workplace Analytics survey reports that remote work has grown by 159% over the last 12 years. The early adopters who moved to remote work reported improvements in productivity, employee retention, diversity, talent access, opex, and work-life balance.