Could smart finance be the way forward for healthcare in the wake of the pandemic?

A way of budgeting could be the way forward as the world economy contracts from the impact of Covid-19.

New research suggests funds could be unlocked by a finance process to help speed up digital technology.

Smart finance essentially liberates capital expenditure which would otherwise be ‘frozen’ and the finance arrangements remain liquid for other urgent expenditure.

It could unlock millions of pounds to spend on digital needs in health care.

Siemens Financial Services has released a new study which tracks the pressure on resources in healthcare around the world using its Healthcare Value Indicator model.

The paper, Easing the Pressure: Working Smarter in the Healthcare Sector, acknowledges the potential impact of the pandemic on speeding up digital transformation, at a time when professionals need to deliver more efficient, effective, preventative medicine.

The research looks at the improvements in overall patient outcomes, and then combines these factors to give a comparative picture of value across fourteen countries.

Value is measured by ways of working, clinical pathways and technologies that improve expanding precision medicine, transforming care, improving patient outcomes and experiences, all by using digital technology.

“Healthcare systems around the world are under greater pressure than ever to transform care delivery,” said Chris Wilkinson, Siemens Financial Services, UK. “While the value of digital healthcare is widely understood, limited capital expenditure budgets represent a significant hurdle for investment. Smart finance can help healthcare management to unlock capital and realize sustainable digital transformation projects.”