Dr. Oday Alsheikh On Inflation, Consolidation, And Global Healthcare Economics

As inflation rates continue to rise and geopolitical issues play out across the contemporary global landscape, Dr. Oday Alsheikh offers his insightful commentary on some of the most pertinent concerns within modern healthcare economics. While inflation and geopolitics are inextricably linked, Dr. Alsheikh highlights the potential strains they may place on the future of the industry.

Amidst the uncertainties of civil war and revolution, the period between 1965 and 1982 reflected a time of crippling global inflation – also known as ‘The Great Inflation.' Dr. Alsheikh comments: "This time represents the clear relationship between geopolitics and the global economy – as inflation began to rise in 1965, it steadily grew throughout the consecutive years, affecting populations across the globe. History suggests that inflation tends to occur in cycles of 25 to 30 years, and in the case of it returning at an alarming rate to the contemporary economic landscape, the healthcare industry could be better equipped for this potentiality." 

Image Credit: lenzaadmin

Post-pandemic research reveals international hospitals and facilities faced catastrophic financial challenges that continue to impact their operational functions today. The American Hospital Association reported an estimated $202.6 billion in lost revenue for healthcare institutions across the region and an average of $50.7 billion lost per month. From a global economic standpoint, low and middle-income countries experienced the equivalent of $52 billion in monthly costs, causing immeasurable impacts on patient care, surgery, and overall health outcomes. The report outlines a lack of preparation as a major contributor to the shared struggles of global health facilities. According to an article published by the Federal Reserve, the height of the pandemic saw inflation rise to levels unseen in the last 40 years. Dr. Alsheikh adds: "Inflation is dependent on people's general perception, behaviors, and how governments respond to them. As the pandemic shook institutions on a worldwide scale, the rise of inflation remained a volatile situation. Outside of the realm of healthcare, inflation causes populace agitation and results in governmental change and the governing body is typically blamed for declining standards of living."

Currently, a major player in US federal debt is the Medicare and Medicaid system. As the American population is growing older, people are living for longer and developing an increasing number of chronic medical conditions; such conditions are more manageable due to developments within the sector and more effective surgical solutions. Unfortunately, as diseases turn life-threatening, demand for treatment rises, and alongside it, so does the cost of medical care. This leads to further financial strain on the system as it struggles to keep up with demand, encouraging borrowing and ultimately, further inflation.

Sharing ground-breaking insights into the social, economic, and medical landscape, Dr Alsheikh is a thought leader and visionary for change. He builds on the topics discussed in this article in his upcoming publications to be released in the near future – he hopes to produce literature highlighting some of the necessary solutions for growing global issues and continues his work as a practicing ophthalmologist in the United States. Today, Dr Alsheikh is a member of a multi-specialty group and owner of five clinics across two American states; he has recently established a home health enterprise and leverages technology through his own EMR (Electronic Medical Record) system, as deployed in his existing surgery center. Most recently, he has launched a pharmacy delivery service and proceeds to offer insightful commentary on issues that affect medical professionals, the general US population, and global societies at large.

Image Credit: Dr. Oday Alsheikh

This post was authored by an external contributor and does not represent Benzinga’s opinions and has not been edited for content. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice. Benzinga does not make any recommendation to buy or sell any security or any representation about the financial condition of any company.