- 2023 is shaping up to be an extremely challenging year and sectors such as the medical industry must prepare to rise to the challenge.
- Studies indicate that the countries that invest the most in the development of the health sector obtain higher income.
- With respect to Mexico, for every 100 million pesos of government investment in health, an additional value of 29 million pesos is generated.
A new cycle is about to begin and for this reason it is necessary to know the main challenges that the medical industry will have to face by 2023. Digitalization has shown progress on a global level like never before. But in addition, the pandemic remains one of the aspects with the greatest impact in all areas.
With this in mind, the study The innovation industry in Mexico. contribution to healthfrom KPMG, points out that there is a two-way correlation between the health of countries and per capita income. Nations that invest the most in health tend to have higher incomes. He estimates that in Mexico, for every 100 million pesos of government investment in health, an additional value of 29 million pesos is generated.
According to sector specialists, by 2023 the The medical industry will face great challenges, mainly in areas such as access to financing, innovation in digital services, regulation, among other issues.
From the above, Tamara ChayoCEO and founder of MEDU Protection, and Federico LozanoDirector of Kabla, point out what they consider to be the five main challenges for the medical industry over the next year.
1) Strengthen the team of collaborators
One of the main challenges for 2023 is for companies to form an optimal team of collaborators, who with their talent and knowledge can contribute to planning strategies that lead companies to grow despite the crisis.
“Without a doubt, the most difficult thing is to get the talent. We currently have a very diminished outlook for sales in Mexico, there are fewer resources to protect health personnel. Therefore, our participation in the ecosystem is fundamental and a good team of collaborators can make a difference to survive with limited financing”, explains Tamara Chayo.
2) Achieve sustained growth amid inflation
The Bank of Mexico forecasts that the inflationary scenario will continue for a large part of 2023 with high levels, close to 8%. This situation, among other factors, has hindered the growth of companies, increased sales and has led investors to adopt more conservative positions, particularly for newly created companies.
A great challenge for the medical sector will be to maintain the growth it registered during the pandemic and later after the resumption of face-to-face activities, taking into account that, during this period, financing increased in line with the growth that the industry demanded.
“The main objective will be to take advantage of the opportunities that can be generated during a crisis. Unlike other sectors, in the medical industry we continue to serve first-rate needs. In our case, we project growth between 15% and 20% for 2023, a figure very similar to what we had been achieving during 2021 and 2022 in the midst of the pandemic”, details Federico Lozano.
3) Boost medical infrastructure
The pandemic showed that investing in the health sector is essential. Doing so not only promotes the development of an industry that has distinguished itself for its innovation, sophistication, use of technology and highly-trained professionals, but also lays the foundations for the population to have a better quality of life.
The last National Occupation and Employment Survey, prepared by the National Institute of Statistics and Geography (INEGI), establishes that in the country there are more than 305 thousand people who work as doctors. Of that figure, 12% provide services on their own, which implies having adequate infrastructure to provide comprehensive services, both in the public and private spheres.
4) Promote digital health services
With the pandemic, technological processes facilitated the provision of health services and remote treatments. Digital health has been key to reaching patients who live in hard-to-reach areas, while helping to provide timely follow-up to those who contracted Covid-19, but digital health goes beyond providing remote medical consultations.
5) Inhibit counterfeit products
Finally, one of the great challenges for 2023 will be the regulation, as well as the issuance of Official Mexican Standards for the provision of health care services in terms of equipment and infrastructure, as well as the training and updating of human resources.
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