Redesigning the healthcare industry for long-term success

This week, I joined an interesting @EconomistEvent discussion on “Speeding up innovation: Redesigning businesses for long-term success” that explored how COVID-19 has catalyzed change across industries. And this is certainly true in healthcare – for both our customers and ourselves.

When COVID-19 hit the U.S. in March, we had to get creative in how we addressed the increased demand for medical equipment – from coordinating an unprecedented logistics push, to forging unusual partnerships with companies like Ford, and quickly innovating new tools for our customers. But the pandemic also accelerated the pace of change, kickstarting ideas that were in their early stages.

We saw a rapid adoption of digital technologies; what previously would have taken years to implement is now taking months. Spurred by the rise of telemedicine and virtual care, the industry needs to seize this opportunity and modernize its technology infrastructure to navigate change going forward.

That’s why we have been investing in digital technologies – to help our customers improve productivity, better manage their operations and ultimately lower the cost to deliver care. AI and analytics will only become more central to the future of healthcare.

We are also using this moment to get even closer to our customers, leveraging new tools to connect when face-to-face interaction is not possible. Customers don’t want us to sell to them anymore. Instead, they are asking how we can partner and work together to solve today’s challenges.

Collectively, we need to embrace greater flexibility. I learned this on a personal level this summer, in part through my hospitalization as a COVID-19 patient. The experience was eye opening, and I am grateful to be fully recovered. I now have a deeper understanding of the impact this virus is having on people around the world – and remain committed to doing what I can to help our customers provide the best care possible.