The COVID-19 pandemic wasn't just a disruption; it was a massive stress test that accelerated a decade of change into about 18 months. Three years later, we can see clearly which of those changes are permanent—and where the new opportunities lie. Pre-COVID healthcare operated on a set of assumptions that have been shattered: that care had to be in-person, that hospitals were the center of the universe, and that patients would put up with inconvenience. The system that emerged operates on entirely new principles.
What Accelerated: Technology We Actually Use
The obvious change was telehealth, but the real transformation runs deeper. Hybrid Care is Now Standard. We learned that for many services, a mix of remote and in-person care isn't just a substitute; it's better. At Family Treatment Network, our autism services saw better family engagement by combining in-person therapy with remote parent coaching[48]. The Hospital Moved Home. The pandemic supercharged home health and remote monitoring. Companies like THEMA Health Services expanded their home-based hospice care, proving they can serve patients more effectively and compassionately in their own homes[49]. Digital Infrastructure is No Longer Optional. Companies that had already invested in technology, like Complete Health, navigated the pandemic seamlessly. Today, that digital backbone is a core advantage[50].What Changed: The Healthcare Workforce
COVID fundamentally altered the relationship between clinicians and their jobs. The people who carried us through the pandemic now demand better work-life balance and more supportive environments. This means companies with a positive culture aren't just "nice to have"; they are the only ones that can attract and retain top talent. We saw this firsthand as our rural companies experienced an influx of professionals seeking a more meaningful way to practice medicine.What Shifted: Patient Expectations
Patients who experienced the convenience of telehealth aren't going back. They now expect healthcare to be as accessible as any other service. This has opened the door for companies that can deliver a superior patient experience. The pandemic revealed which business models were resilient. The winners were clear: community-based services, tech-enabled providers, and those built for value-based care. That transformation isn't slowing down; it's just getting started.References
- Family Treatment Network portfolio description, https://pharosfunds.com/family-treatment-network.php ↩
- THEMA Health Services portfolio description, https://pharosfunds.com/thema-health-services.php ↩
- Complete Health portfolio description, https://pharosfunds.com/complete-health.php ↩
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