The coronavirus pandemic has caused a major disruption in routine hospital services globally, as medical professionals focused on treating the infected and conserving resources.
As a result, patients have delayed or canceled scheduled healthcare visits and surgeries.
Now, in various parts of the world where the outbreak is under apparent control, there is an opportunity to resume normal health care operations. While analysts are optimistic about the return of elective procedures, patients are concerned about seeking care.
In a survey of more than 1,300 patients at Vanderbilt University Medical Center, patients said their greatest fear of returning to routine medical care is the risk of getting sick from other patients, according to a report published in the New England. Journal of Medicine. Monday.
More than half of the respondents admitted to delaying routine medical care during the Covid-19 pandemic.
The study notes that preliminary evidence suggests that people under quarantine restrictions and staying home are at increased risk for anxiety and depression. This mental health burden probably worsens worries about getting sick or being hospitalized.
Respondents were cautious when considering undergoing elective procedures and surgeries, with less than 20% willing to undergo these procedures immediately and the majority (63% to 70%) expressed a desire to wait at least four weeks. For serious conditions, 81% of respondents said they would seek medical attention immediately. Nearly 10% of respondents plan to wait more than six months to resume routine care for existing non-urgent conditions.
The study concludes that medical centers and doctors are the key players in impressing patients on the importance of seeking necessary health care services in a timely manner. Respondents considered the medical center and their physician to be by far the most important sources of information when considering the safety of resuming these services.
Feeling the impact
Medical device companies have been feeling the impact of the postponement of elective surgeries and other health care services.
Johnson & Johnson’s Medical Devices division saw a decrease in sales in the first quarter due to the postponement of medical procedures in its Surgery, Orthopedics, Interventional Solutions and Vision businesses.
Alcon, the world leader in eye care, was forced to withdraw its financial guidance for 2020 because mandatory measures in most countries required the temporary postponement of eye care procedures and exams.
Smith & Nephew, the global medical technology business, expects second-quarter revenue to be substantially lower compared to last year. The impact has been most pronounced in its orthopedic reconstruction, sports medicine, and otolaryngology (ear, nose, and throat) businesses, driven by lower levels of elective surgery in the quarter. Meanwhile, its Advanced Trauma and Wound Management businesses have been more resilient.
Optimistic about a recovery?
Despite constant patient concern, analysts are optimistic about elective procedures returning after the coronavirus.
Morgan Stanley analyst Michael K. Jungling said in a research note published June 4 on Smith & Nephew: “We expect the Ortho sector to demonstrate one of the fastest recoveries to pre-Covid-19 volumes in 2H20 and 2021 as government policies and restrictions are lifted. ” and the accumulated demand is worked “.
He added: “We believe that core business is less challenged compared to other sectors.”
Berenberg’s stock research team wrote in a note published on July 9 that, as closure restrictions have been eased, first in Asia-Pacific and then in Europe and North America, volumes of elective procedures began to recover and they did it surprisingly fast.
Most candidates for hip and knee replacement, for example, have severely restricted mobility and often suffer a lot of pain. On the Smith & Nephew stock, the team said: “Having seen how quickly volumes can recover, we would consider any weakness in the stock price as a buying opportunity.”
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