Expert: Bryan Cole
Expert: Bryan Cole
The financial ramifications of the COVID-19 pandemic are myriad and fast-moving, causing significant uncertainty about the future business environment globally. Healthcare and life science firms are facing unique and dramatic financial stresses including:
Lost revenue from postponed elective procedures, delayed primary care and value-based rewards, large employer layoffs and small business closures, unfilled prescriptions and the suspension of in-office detailing
Increased costs of COVID-19 treatment and testing, staff time and supplies, chronic condition care costs, interrupted clinical trials and idled research staff
CIOs must respond to CFOs and CEOs increasing demands of IT spending cuts with digital transformation and cost optimization strategies.
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