Tactics for Provider Organizations to Manage Through COVID-19 and Plan for What’s Next

Corporate Finance & Restructuring | Healthcare & Life Sciences

March 26, 2020

Doctors

Despite the widespread impact of COVID-19 on businesses from all sectors and geographies, there may be no industry more immediately and severely impacted than the healthcare sector. How healthcare provider organizations rapidly organize and respond to the developing crisis will have lasting impacts on their business, their communities, and their ability to care for patients today and in the future.

The evolving COVID-19 pandemic has resulted in an extremely fluid situation in which guidance from governmental health agencies, researchers and regulatory bodies can significantly change not only by the day but by the minute. Even with the rapidly evolving situation, there are key aspects of business continuity, regulatory considerations and financial loss that should be quickly assessed and integrated into a healthcare organization’s COVID-19 response plan.

Tactics to Maintain Business Continuity

After creating a Rapid Response Team that includes a multidisciplinary group of stakeholders charged by leadership to develop an emergency response plan, allocate necessary resources and communicate key information to staff across the system as well as the community, healthcare leadership must quickly shift their focus to establishing business continuity in order to weather the storm.

Business continuity is the mechanism by which healthcare organizations will maintain core operations in order to respond to COVID-19, continue to care for essential patient populations and maintain financial sustainability.

Tactics Provider Organizations Manage COVID 19 Infographic
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