Coronavirus (Covid-19) Executive Briefing

Healthcare information technology 

The telemedicine industry has proven to be an essential tool in the fight against the Covid-19 pandemic. Instead of visiting the hospital, due to concerns regarding the risk of contracting Covid-19, patients are using telemedicine, which has increased its availability significantly since the beginning of the pandemic.

Ear, nose and throat devices

Cochlear Limited, in a full year earnings announcement, reported that H2 2020 revenues declined by 29% compared to H2 2019 due to the deferral of elective surgeries across most regions, as a result of Covid-19. In April, the company observed that cochlear implants fell by 60%, but by June, implants had returned to 85% of 2019. Procedures are recovering quickly in most countries, with the notable exception of the UK, Spain and Italy.

General surgery devices

In the US, where private hospitals heavily rely on elective surgeries for their revenue, many hospital administrations had cut their workforce to preserve critical equipment such as personal protective equipment, ICU beds, and ventilators.

While the daily number of new active Covid-19 cases continues to outpace the recovery rate in the US, most states have lifted restrictions on elective surgeries to address the growing health and financial consequences of delaying them. However, the potential of a large “second wave” may force surgeries to postpone again in the closing months of 2020.