COVID-19 has put enormous strain on the Irish healthcare system. The pandemic has forced healthcare organisations to become increasingly more agile, having to make fast decisions that may have previously taken months to execute. The pace of change has seen a fundamental change to tolerance of risk. Operational decisions are having to be made with less robust, incomplete or imperfect risk information – and then quickly implemented to save lives. At the same time our healthcare professionals struggle with both physical and mental stress working through the pandemic.
While there is now light at the end of the tunnel the industry will continue to face significant challenges post pandemic. Healthcare organisations will have to safely deliver COVID and non-COVID care in parallel, maintaining a level of surge capacity while also trying to recover from the severe financial and workforce impacts of the crisis.
Against this backdrop, Marsh's HealthCare Practice continues to deliver new and innovative solutions that meet the unique needs of our healthcare clients. With an in-depth understanding of the challenges our extended team of insurance and health care professionals employ a proven process: We work with you to define the organisation's risk profile. Then we use powerful analytics to quantify them, and to determine how much risk to retain and transfer. Finally, our team designs a custom solution encompassing risk transfer or insurance solutions and workforce, clinical, and captive strategies.
By identifying and responding to exposures and managing total cost of risk, your organisation can thrive, ultimately improving the patient experience while also delivering improved cash flow, driving down costs, reducing outcome volatility, and achieving greater predictability in risk budgeting.