Healthcare is a fundamental service necessary for society and a basic human right. Traditionally, the state has provided these social infrastructure services, which are regarded as public goods. However, the private sector has stepped up to accelerate change and implement effective and lasting solutions in this industry.
Innovation, policy change, funding and technologies are transforming healthcare. The issues of resistance to change, cultural, regulatory, access and cost exist, along with the challenges.
Hearth Advisors addresses some of the critical challenges in the sector:
Power of the brand
In healthcare, a strong brand brings comfort and an expectation of quality to consumers. Industry validation, reputation for excellence in care, diagnosis and delivery, academic and published materials, and evidence of results influence choice and buy-in to an organisation’s brand.
For-Profit or Not-for-Profit
While social infrastructure provision is dominantly charitable and focused on providing social value, there are increasing investments in the healthcare sector that can be profitable for investors and innovators while providing social benefits and services to lower-income households. Often, public sector dominance or governmental provision in a social sector, aligned with suitable regulation, allows private capital to support state provision. The overall socio-economic benefits and the practical costs to consumers can sometimes be better delivered through private provision or PPPs rather than public sector monopolies. In some areas, however, the public provision of healthcare services is essential for achieving deeper, non-fiscal outcomes.
How to make Public-Private Partnerships (PPP) work
Hearth Advisors has effectively built and supported PPPs in healthcare for decades and is using its experience dealing with governments globally to facilitate private sector providers’ working with public bodies. PPPs allow the deployment of products and services, providing solutions that allow positive change. The private sector brings innovation, funding, and flexibility that the public sector is sometimes constrained to provide.
Building institutions and capacity
Hearth Advisors develops innovative institutions and research centres that use cutting-edge technologies, up-to-date clinical protocols, and evidence-based treatment methodologies.
Hearth Advisors has gained a growing reputation for providing effective advice and solutions that enable clients to realise their ambitions.
Regulatory environment
Navigating the modern policy environment requires an integrated approach and an expert understanding of the regulatory process, which is a crucial strength of our firm.
Fostering innovation
Hearth Advisors has developed a reputation for identifying and bringing to market innovation that works. We distinguish leading healthcare and med-tech technologies that address critical areas within their systems. We advise investors and technology companies in multiple segments, such as strategic planning, research and development, formulating market-entry strategies, etc. We have worked with prominent investors and earned a reputation for bringing new perspectives and insights to both sides of deal flows. We understand the unique nature of transactions in the healthcare sector. We can draw critical strategic insights into the growth prospects of businesses and enhance the organisations’ operational effectiveness.