As 2022 comes to end, it seems appropriate to look back at some of the winners of the last year – and those who fared less well in a trying environment.
In an ideal world you wouldn’t have to pay for preventive care measures such as at-home tests, but with increasing pressure on healthcare services and in particular a lack of funding for preventative measures, increasing numbers of people are doing exactly that.
When a CEO steps down, journalists raise half an eyebrow. Is this a planned departure, in the works for months, with a readymade successor ready to step out of the wings? Or does it have a whiff of a hastily scrabbled jump (with, or without a push) suggesting possible malcontent, ill will, a clash of styles, or something else?
Why bother with telehealth? For all the huge sums raised, the high valuations and in some cases the spectacular IPOs, it's actually quite rare for them to make any money. Or latterly, for them to hold their share prices. Teladoc doubled its revenue, and Babylon quadrupled its revenue in 2021 - yet both have seen share prices drop 90% over the last two years. What gives?
This week saw the leaking of minutes from a September meeting of senior NHS Scotland managers in which a serious suggestion was made that the founding principle of free at the point of use care for all be abandoned.
There's an air of confusion around digitalisation / telehealth. Everyone knows it is important. But as a standalone prospect, it takes time to make a profit. Babylon's stock crash, and Kry's withdrawal from Germany and continuing layoffs do little to dispel digital doom, and many patients insist on a hybrid model of care. But for healthcare companies looking to expand to pastures new, going digital can offer a cheap way to test the water.
The problem with being the founder (and often also CEO) of a company is that it’s difficult to know if you're doing a good job. Or - even if you are - when it might be the right time to make way for someone with fresh ideas. How do you know when it’s time to step down? And how does it feel when you do?
Back in June, Hedley Goldberg, who heads up health care services at Rothschild, told HBI 2022 attendees that healthcare investors shouldn't be too worried about the macroeconomic outlook. Yes, inflation was higher than it had been in decades. Yes, a recession was undoubtedly on the horizon. But health care services would be resilient and able to pass on cost increases to payors. But now multiple listed groups are reporting net losses for Q3 and many investors are getting cold feet. Is this just a temporary blip or a sign of worst to come?
French elderly care giant Orpea has been given four months to fix its finances and placate its creditors. Could it learn from GCC hospital group NMC’s similar experience?
Issues with the plummeting pound – slightly aided by the departure of the UK’s shortest-lived prime minister – and the fall of the euro against the dollar mean it’s a great (cheap) time for our north American cousins to holiday in Europe. But it’s also a great time to buy into healthcare services.
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