The crisis has revealed the fundamental dilemma of the financial gains-versus-patient-versus-the-state healthcare market. It has also raised concerns about public-versus-private healthcare spending, affecting the service’s efficiency and affordability. Although tertiary and quaternary care providers funded by private equity can compete profitably at the top end of the market, the smaller, independent hospitals without bursary representation have been severely affected. The healthcare industry is central to the smart recovery seen from the pandemic, but at the same time, the industry has reached both highs and lows.
Regulatory interference has risen:
As healthcare is important infrastructure, regulatory interference in times of health crisis is greater than in other industries. Regulatory government restrictions have included price gouging steps, leveling the cost of care, and official diktat to perform operations for the exclusive care of patients with COVID.
An organization with a noble cause:
Despite the need to get more physicians to cope with the disease burden, it has not been unusual for physicians not to get paid or get laid off. There is a demand for hospitals to keep healthcare costs down and improve profits. Many healthcare staff is dying from the infection. On the other hand, the death of patients due to the denial of admission by hospitals, high medical bills, unaffordable costs of treatment, and lack of sufficient healthcare facilities in the hinterland are factors that have highlighted the service deficit.
The overall deficit of trust:
Due to industry malpractices experienced during the pandemic, there is a general mistrust that has grown. Hospital overcharging, concerns about the efficacy of diagnostic companies’ tests, patient ill-treatment, failure in the provision of timely facilities, and deaths of healthcare workers due to insufficient security are some of the factors behind the shortfall.