Budget expectations, priorities and learnings from the Healthcare Strategy Forum 2021

Posted by:
Kannan Jayaraman

Publish Date:
31 Jan, 2022

The healthcare industry has been battling a perfect storm of an increasing populace, more complex medical needs, and a decrease in age-weighted real-term funding per person, for years.

In 2019, the Covid pandemic applied a greater pressure, one that has seen the equivalent of 300 full-time GPs leave the profession in the last year alone.

So, what is the way forward for healthcare providers?

We spoke to IT decision-makers and influencers attending the Healthcare Strategy Forum, November 2021, to find where they felt spending would be allocated as the healthcare system grapples to meet patient expectations and strategic demands with tighter budgets.

Almost 30% of respondents felt that the top strategic priority is improving patient experience and safety, whilst just under 25% of respondents felt that the top spot belonged to developing programmes and initiatives for improved quality of care.

The best way attendees asked felt these strategic priorities could be met was by strengthening and retaining the workforce through better training and planning.

Respondents, more or less evenly split between decision-makers and influencers, were asked which areas they felt would attract greater spend levels and which areas would reduce spending against previous years. And there were some clear-cut winners in terms of additional spending such as mobile working solutions and Cloud services. These areas really proved their worth throughout the Covid-19 pandemic, and now the healthcare system is choosing to fully embrace these types of technology. However, there were some surprises too in terms of areas where spending isn’t expected to grow. You can read more about this in our Ebook: https://invsol.co/3Haotfr.

One of the key areas of interest to come out of the Healthcare Strategy Forum was the large number of respondents who felt that advanced integration with local authorities was a priority. This is an area that we strongly encourage. The cross-government agency approach provides opportunities to work collaboratively with the police and the local government to enhance service provision, minimising vulnerable individuals who fall through the gaps between various agencies and go undetected and unsupported. With a broader, 360-degree picture, it becomes possible to identify those at risk of sexual abuse, homelessness, eating disorders and suicide, earlier. This earlier identification makes it possible for healthcare providers, police and government agencies to be proactive in providing the support so desperately needed by these individuals.

For more fascinating insights on healthcare spending, you can download the Ebook today. https://invsol.co/3Haotfr.

Blog Author

Kannan Jayaraman

EVP & Head of Digital Transformation, AI & Analytics

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