The future of healthcare will require greater integration between public and private sectors and a ‘seismic cultural shift’, according to healthcare professionals in the South East.
Addressing the issues of funding, increasing investment in the workforce and keeping up with advances in technology are also critical. This will ensure that the delivery of high quality care is sustainable in the long term.
We recently held a recent roundtable discussion with Brachers LLP. It brought together experts from the healthcare sector to explore the current challenges faced by the NHS and the changing landscape in the sector over the next five to 10 years. A summary of the full discussion can be viewed in the report “The future of healthcare: A public and private challenge.” [ 8053 kb ]
Increased funding and adapting to change
Financial constraints were high on the agenda, with the panel commenting that the healthcare sector is currently required to deliver ‘an all you can eat buffet on a soup kitchen budget.’ Our report shows that only about 9% of UK GDP is spent on healthcare, compared to 12% in Western Europe and 17% in the USA. Greater efficiencies in commissioning and an increased role for the private sector in filling the gaps in delivery were considered, if current barriers to integration can be removed.
Alongside the challenges of funding, a restructure in primary care and ‘fast tracked’ training were suggested as ways of addressing the diminishing workforce. Panellists also agreed that the role of technology could be significant in enhancing efficiency in patient care in the future. However, the sector needs to overcome the fear of change and foster an environment of adaptability to enable innovation.
Collaboration is key
John Sheath, Head of Healthcare at Brachers said: ”Although there was a degree of frustration with the NHS from the delegates there were some real positives to be drawn from the debate. The anecdotal examples of significant successes around the table of how technology and private sector contributions have led to considerable improvement in patient care.”
Jon Maile, Assurance Partner at Grant Thornton said: ”All those attending the debate were passionate about working collaboratively to improve the delivery of quality healthcare now and in the future. I find that very encouraging.”
To find out more, contact Peter Jennings, Head of Corporate Finance Healthcare