Financing solutions and digital innovation, key to healthcare industry’s growth: Siemens study

Flexible and reliable financing techniques vital to improved service and care provision, finds report

Siemens Financial Services (SFS) recently released a new research report examining how healthcare organisations around the world meet the sector’s key challenges with smart finance. The qualitative research was conducted across 13 countries to inspect how healthcare finance managers deploy a wide range of financing techniques to combat obstacles faced by the global healthcare sector and improve service provision and patient outcomes.

The research report highlights that healthcare providers face increasing pressure on capital budgets and struggle to meet increasing service demands and improved patient outcomes. Budget constraints often lead to extended use of outdated equipment and organisations are in the risk of losing patients to other players thereby showcasing the importance of financing solutions and its impact on customer loyalty and equity. In addition, research respondents who used new financing models such as leasing and rental were able to improve cash flows and control over budgets – enabling them to more effectively cater to escalating service demands and meet with other competitive pressures.

“The healthcare sector is undergoing fundamental changes across the world, requiring providers to invest in top-quality service and care provision while maintaining or increasing returns to shareholders is the need of the hour. Financing techniques such as leasing can today enable healthcare providers to adapt seamlessly to market changes and raise overall healthcare standards to attract more patients and provide improved standards of care,” said Sunil Kapoor, CEO, Siemens Financial Services.

“We have had experiences, where smart financing solutions have enabled our customers to introduce quality healthcare to their patients. In an environment where healthcare is emerging and hence needs to be more accessible, providing financial support becomes a differentiator,” said Richard Guest, CEO, Siemens Healthcare India.