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H2C COVID-19 POV Series • Overview
Redefining Normal: Exploring the Short-Term and Lasting Impact of COVID-19 on Health Care
August 20, 2020
Foreword
We believe that 2020 will be regarded by historians as the most disruptive year for health care in recorded history. The speed with which the novel coronavirus was transmitted around the world is unprecedented, and the global response is breathtaking. Unlike prior pandemics, such as the one in 1918 or even the Bubonic Plague, the sheer number of people in the world today and our incredible interconnectivity—both physically as well as virtually—has ensured a shared international experience around contracting and combating a virus that knows no boundaries. The power of the global human reaction to this threat cannot yet be understood, and the resulting changes in the way we work, socialize, educate, and travel are all in play.
At H2C, we are intensely focused on what is happening in the single industry in which we have dedicated our professional careers for many years. Irrespective of our deep expertise and broad experience, we will be tested in the months ahead as we strive to divine the future so we may assist our clients in reshaping the strategies that will enable their success as that future unfolds. The intellectual challenges ahead will tax our understanding of the complex ecosystem that is today’s healthcare system.
This paper is intended to set the stage for a series of papers that will follow and identify, assess and address discrete elements of the industry, how these areas have been impacted, and what changes we might expect to see going forward. We look forward to hearing your thoughts and insights as we explore what the future may hold.
By William B. Hanlon III
About Hammond Hanlon Camp LLC
Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm with a singular focus on health care. Our commitment to exceed our clients’ expectations begins with senior leadership on every engagement and continues with independent and objective strategic advice. Our belief in the markets and in the power of competition has resulted in loyal clients and long-term relationships.
The experienced professionals at H2C are well positioned to serve as your trusted advisors. We have the expertise to understand the unique complexities of the healthcare industry and an in-depth knowledge of the range of potential alternatives essential to designing and implementing highly successful business and financial strategies. We bring in-depth knowledge and experience across the full continuum of care and across a wide range of healthcare-related businesses.
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William B. Hanlon III is a Principal of Hammond Hanlon Camp LLC (“H2C”). As a trusted advisor to prominent healthcare organizations across the country in the design and execution of growth strategies and capital financing transactions, Bill’s direct financing and advisory experience includes both public and private debt and equity offerings as well as acquisition, divestiture and joint venture transactions for a variety of healthcare services and technology companies.
Contact Bill Hanlon at bhanlon@h2c.com.
Since the coronavirus outbreak emerged in the United States earlier this year, much of what has occurred in health care to date has been in direct response to the immediate demands of the crisis environment. These actions range from the initial scramble for medical supplies and efforts to diagnose and treat patients to the explosion in demand for telehealth services to help limit the spread of disease and the global race to discover effective therapies and vaccines. Now, as consumers, providers, payers, and employers deal with the financial aftershocks of the pandemic, healthcare leaders must consider: What trends did COVID-19 accelerate—and what will health care look like after the immediate crisis is over?
We are witnessing in real-time the dire effects of economic lockdowns imposed to varying degrees across the country. An estimated 5.4 million Americans lost health insurance coverage from February through May—more than have ever lost coverage in a single year. Untold numbers deferred necessary care and a rising tide of Americans are contending with the novel coronavirus firsthand. We are just beginning to understand the emerging human toll of the pandemic, including the long-term impacts of isolation, the delayed return to classrooms, the lost time at work, and the constant threat of contracting a previously unknown pathogen, and it is unclear how long the pandemic will persist.
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