| | DECEMBER 20208Covid ImpactHealthcare industry was one of the most affected due to Covid, a kind of dilemma since the industry a lynchpin in containment of the pandemic itself was itself deeply impacted, putting our health systems temporarily ineffective.Hospitals revenues came down to as low as 25-30 percent of their pre-Covid revenues due to non-patronisation by patients because of fear of infection, consequently leading to large scale cost optimisation initiative to remain afloat, including reduction of salaries, sizable lay-offs and significant scaling down of non-essential services and expenses. The industry has since recovered, albeit partially (60-70 percent pre Covid revenues in some cases), and the full recovery may take another six months to a year, may be even more in certain cases.The New NormalWhen this article went into print, there were more than 50 million confirmed cases of Covid and close to 1.3 million fatalities due to the pandemicglobally.Is lockdown or muted living the `new normal'?What about reemployment of millions of people laid off due to the pandemic and Livelihood &sustenance of their families? What about restrictive social distancing norms or back breaking restrictions on economic activities, hospitality, travel or entertainment industries? Is it sustainable on the long run?Covid vaccine is still good six to eight months away, despite multiple claims to the contrary. Discovery of vaccine itself is not enough, we need to vaccinate seven billion people in batches, the most vulnerable first. Who will fund it and the vaccine will be manufactured and administered in what timeframe?These are some of tough questions that beg appropriate answers from the global health authorities and the governments of nation states. Role of WHO itself has been found to be dubious initially, trying to protect Chinese for their late intimation of the seriousness of the pandemic that led to its global spread. Many pharma & medical devices companies and their promoters have been allegedly blamed for undue profiteering when the world ran out of ventilators and life saving devices and medicines.What happens to life and economic activities in the meantime. Is it the `new norm' we have to contend with? Only time will tell. I believe, Coronavirus is hereto stay and we need to live with the devil for times to come. Social distancing and wearing of masks just provide cosmetic protection ­ strong immunity and vaccination provide long term solution. There is another lobby, which is totally against vaccination. But that's another debate for some other time!People talk of the `herd immunity' but it has still not proven to be a long-term solution for the pandemic. Research so far has consistently shown that post Covid immunity lasts for just a few months; on an average ­ just five to seven months or may be more in certain cases. Moreover, vaccination itself could be a recurring exercise for long term viability and immunity against the infection. Knowing how long immunity lasts is important in creating vaccination protocols.If there is anything that we know about Coronavirus so far, is that we still really know nothing!THOUGHT LEADERSHIPGETTING INDIAN ECONOMY & HEALTHCARE INDUSTRY BACK ON THE RAILS POST COVIDBy Col. Hemraj Parmar (retd), Group CEO, BR LifeColonel Hemraj has served with the Indian army with distinction for more than 23 years before taking voluntary retirement. After moving on from the army, he did his MBA from IIM Ahmedabad and ESCP Europe in Paris. He is also an experienced pilot and has flown both fixed wing aircrafts and helicopters.Col. Hemraj Parmar (retd), Group CEO
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