L.E.K. has conducted a survey with over 400 hospital executives across both public and private hospitals in key Asia Pacific (APAC) markets. This presentation aims to provide insight into the financial outlook, business priorities and landscape for digitization at both public and private hospitals across the APAC region.
The following key insights have emerged as a result of this study:
Financial outlook: Financially, both public and private hospitals have been negatively impacted by the COVID-19 pandemic, with mid-size hospitals experiencing a greater burden compared to more resilient, larger hospitals. Most hospitals are expected to achieve a strong recovery in the next three years, with ~90% hospitals expected to achieve at least a balanced budget or positive profitability / EBITDA margin.
Business priorities: Emergency preparedness and recovering from the financial impact of COVID-19 are top strategic priorities for hospitals over the next three years. Hospitals have also indicated interest to standardize procurement and work with/invest in alternative site of cares to enhance operation and patient care.
Digitization and innovation: Investment in digital infrastructure is one of the top spending priorities for both public and private hospitals moving forward. Adoption levels of both patient-facing and back-end digital solutions vary by market, and are faced with key challenges to innovation, such as patient privacy and adjusting the existing standard of care. These issues need to be addressed to successfully increase digital innovation among hospitals.