Accelerating the health economy of tomorrow

Transforming health systems and embracing innovation amid a pandemic

As the COVID-19 pandemic continues to unfold, its extensive impact on healthcare is altering the very nature of health systems worldwide. What’s changing? Existing trends, which formerly grew incrementally—such as telemedicine and data-driven models—have accelerated substantially, resulting in a sooner-than-expected arrival of tomorrow’s healthcare ecosystem.

COVID-19 is rewriting the rules so quickly that in order for health organisations to thrive in this interconnected network—what we call the New Health Economy—each must adapt and develop a new strategic identity for the future. The task to repair, rethink and reconfigure models will help players emerge stronger from crisis—and deliver healthcare, reinvented.

1:39
Video Player is loading.
Current Time 0:00
Loaded: 0%
Duration 0:00

Playback of this video is not currently available

Accelerating the health economy of tomorrow

The COVID-19 pandemic is accelerating the New Health Economy and transformations across the health system.

The pandemic is accelerating the New Health Economy

The elements of the NHE have been building toward a more interconnected health ecosystem. But the pandemic has increased the speed of the transformation.

Figure 1

Source: PwC Health Research Institute analysis of COVID-19 accelerators of the New Health Economy ecosystem, which was first published in Surviving seismic change: Winning a piece of the $5 trillion US health ecosystem, PwC’s Health Research Institute, Sept. 2016

The COVID-19 pandemic will likely accelerate…

A host of health services previously conducted in person have shifted into digital spaces. Technologies such as video healthcare visits, at-home diagnostics and wearable monitors will continue to expand; R&D and clinical trials are already going virtual; and various members of the workforce remain remote. Such virtualisation will move patients from irregular healthcare interactions to a continuous model of care.

Related content

Strategy + business, a PwC publication

Be a better decider

As reinvention pressure rises, CEOs need to rewire their decision-making.

See what's new

Follow us