How Hospital Bottlenecks Cause A Healthcare Gridlock
The healthcare industry is complex and interdependent. Much like a highway interchange, it relies on multiple players and processes to flow smoothly.
But just like in an interchange, a single roadblock can bring the system to a grinding halt—leading to serious consequences for all involved.
The Healthcare Silos
In healthcare, there are three primary players, each with their own priorities. However, they stay in their own lane and rely on independent software systems to achieve their goals.
|Healthcare player||Main priority||System used|
|Patients||Seek an engaged and personalized experience||Digital technologies
- Example: mobile health, wearables
- Provide constant monitoring and instantaneous updates
|Providers (Doctors, nurses, and more)||Provide the highest quality of care||Electronic health records
- A comprehensive record of a patient’s medical history
|Payers (Insurance companies)||Balance the cost and quality of care||Claims database
- Information on medical appointments, bills, and more (some claims can take 60 days to process)
This leads to frustrations for all parties, including poor communication and uncoordinated care.
A Not-So-Patient Journey
What factors lead to a less-than-desirable experience? Challenges arise from the moment a patient walks into a hospital
- Entering the Emergency Department (ED)
Overcrowded EDs are often the first point of contact for a patient. On average, 43.3 per 100 people visit the emergency department annually in the United States for everything from fevers to injuries. Of these, 6 out of 10 must wait longer than 15 minutes before they can be seen by a provider.
- Playing the Waiting Game
Patients are willing to endure up to 2 hours in the emergency department, but wait times often surpass that. The average wait time in 2017 was upwards of 352 minutes, or almost six hours. As a result, up to 9% of patients leave without being seen (LWBS).
There’s simple psychology behind why some people aren’t able to wait it out. According to former Harvard professor David Maister, unoccupied time that is compounded with anxiety makes a wait feel longer.
These long waits also affect a patient’s perception and satisfaction of the care they eventually do receive.
The True Cost
After they’re admitted, inconsistent processes and flows continue to plague patient experiences.
A typical hospital stay can rack up a single patient close to $12,000 across 4.6 days. With these costs climbing every year, uncoordinated care adds to these receipts by extending the stay.
Uncoordinated care also creates a dire strain on resources, including the humans behind all the work. The resulting physician burnout costs the U.S. health system $32 billion annually. While lost productivity causes over half ($18 billion) of this amount, another $8.5 billion is due to poor experiences, which impacts patient satisfaction which leads to falling margins for hospitals.
Severe bottlenecks compound these issues, forcing the healthcare system into a gridlock.
What’s Causing the Jam?
Disjointed communication and a lack of visibility across systems are the major reasons for these costly standstills. This is analogous to using a paper map to navigate:
- No updates based on the current situation
- Time-consuming to figure out specific route to a destination
- Show multiple routes, but not the fastest way to get there
What if there was a smart GPS to help the healthcare industry overcome roadblocks?
- Real-time, dynamic updates on the current situation
- Knows where you are, and where you need to go
- Filters only the appropriate and relevant information
The Leidos careC2 Command Center solves healthcare traffic jams.
The coordinated technology suite rapidly identifies and reduces bottlenecks and delays in the care process. This improves the operational flow of hospitals—so that patients, providers, and payers all reach their destinations safely and efficiently.
Investing in Core Cybersecurity Technology
How is the growing cybersecurity market evolving? This graphic highlights the core technology developments and market growth underway.
Investing in Core Cybersecurity Technology
The world has become increasingly more digital—with everything from customer data and employee services to entire businesses living on servers—and in recent years cybercrime has become a constant threat.
After large-scale breaches in government organisations around the world and huge public companies like Sony, cybersecurity is being taken more seriously. And since 2016, the U.S. has seen at least 1,000 data breaches every single year, exposing billions more records.
But in a field where new exploits are just around the corner, and with COVID-19 driving more employees and services remote than ever before, the need for better cybersecurity technology and investment has reached critical importance.
This infographic from eToro highlights developments in the cybersecurity market and how they affect companies, consumers, and investors.
The Cybersecurity Landscape
No person or organisation is immune to cybercrime, but some are targeted more frequently.
Across businesses, cybercriminals look for exploits in sectors with either the most to lose in terms of financials or data, or they target sectors with the least protection.
Unsurprisingly, the top industry targeted by cybercrime in 2020 was financial services. But cybercriminals also focused on manufacturing, energy, and retail—industries forced to quickly shift to digital channels because of the pandemic, but without the time to adapt and safeguard.
|Top Industries Targeted by Cybercrime||% Targeted (2020)|
Though targeting is inconsistent across industries, financial impact is significant across the board.
In Europe, the average annual cost inflicted by cybercrime for affected organisations in 2019 ranged from $8 million in Italy to $13 million in Germany. In the U.S., the average annual cost of cybercrime was over $27 million.
|Organisation Base Country||Average Annual Cost of Cybercrime (2019)|
But in terms of volume, the most common cybersecurity threat is faced by individuals instead of companies. In addition to being a common target for cybercriminals attempting to access company data, consumers faced four times as many attacks as enterprises in 2019.
The Future Cybersecurity Need
The growth of cybercrime activity and adjacent cybersecurity investment over the last few decades was already impressive, but a post-COVID world puts the digital market front and center.
In the U.S., the cybersecurity market was valued at $156.5 billion in 2019, with more than half of the market focused on services over software and hardware. In 2027, the market is estimated to be worth $326.4 billion, a compound annual growth rate (CAGR) of 10%, with the focus remaining the same.
The driver of software and hardware usage is consistent with more aspects of business and personal life digitising, but growth in services is aligned with the uncertainty of future cybersecurity issues.
Winning the Fight Against Cybercrime
Cybersecurity and cybercrime grow and build off each other in a never-ending cycle, driving a need for increased investment alongside them.
The Cybersecurity Technology Cycle:
- Increased cyber operations incidents: Cybersecurity operations incidents increase as a result of the overwhelming burden of complexity.
- Add technology: Vendors pitch new technology as the solution to cyber operations incidents.
- Add people and process: New technology requires more people and processes.
- Operational complexity increases: Interactions between technology, processes and people increase geometrically.
- Loss of process visibility and control: Fog of uncertainty develops, old management systems are overwhelmed.
- Poor human performance: Technology and process complexity decrease cybersecurity effectiveness.
- Repeat 1)
As new devices and software come online, old methods used by cybercriminals for infiltration or data gathering are replaced with new ones.
In 2019, the most commonly used initial access methods were phishing (31%), scan & exploit (30%) and unauthorised credential usage (29%), with compromise of mobile devices only accounting for 2%. With more work going offline and onto personal devices post-pandemic, and increasingly so post-digitisation, those numbers are likely to fluctuate.
That’s why the cybersecurity market is expected to keep growing in importance and size over the coming decade. An increasingly digital world is putting more risk online as well, and as many companies have learned the hard way, cybersecurity is a core technology worth investing in.
How Can Investors Take Part?
eToro’s CyberSecurity CopyPortfolio* gives investors direct access to the growing cybersecurity market.
Curated by experienced and proven investment teams, the thematic portfolio offers exposure to a broad range of developers and companies invested in cybersecurity, with no management fees.
*Your capital is at risk.
CopyPortfolios is a portfolio management product, provided by eToro Europe Ltd., which is authorised and regulated by the Cyprus Securities and Exchange Commission.
CopyPortfolios should not be considered as exchange traded funds, nor as hedge funds.
Canada’s Gold Exploration Frontier: The Abitibi Greenstone Belt
The Abitibi greenstone belt has produced more than 200 million ounces of gold since 1901. Learn more about the Abitibi belt’s history, mining activity, and potential for discovery in this infographic.
The Abitibi: Canada’s Largest Gold District
Canada is home to many great gold districts, but none come close to the Abitibi greenstone belt.
Having produced over 200 million ounces of gold since 1901, the Abitibi belt has etched its place as Canada’s largest gold district. Today, the region is bustling with exploration activity and hosts three of the country’s largest gold mines.
The above infographic from Maple Gold Mines showcases what makes the Abitibi a prolific gold district, from its history and geology to current activity and the potential for discovery.
The Abitibi Greenstone Belt: Remarkable Geology and History
Over 2.6 billion years ago, the Earth’s natural processes of creation and destruction resulted in the formation of metal-rich volcanic rocks and deformation zones that comprise the Abitibi greenstone belt.
The Abitibi belt hosts several economically viable deposits of gold, silver, zinc, iron, copper, and other base metals. The types of deposits found there include gold-rich quartz-carbonate veins, copper porphyries, and volcanogenic massive sulfide (VMS) deposits.
Since mining began in the early 1900s, more than 124 mines have been set up in the Abitibi, and at least 15 of these have yielded over 3.5 million ounces of gold. What’s more, the total gold content of the belt, including past production and current reserves and resources, exceeds 300 million ounces.
The majority of the Abitibi’s rich gold deposits lie along fault lines in major deformation zones such as the Cadillac-Larder Lake zone and the Destor-Porcupine zone. These deposits are the foundations of gold camps that boast historical production numbers in excess of 10 million ounces of gold.
Despite a mining history that spans over 100 years, the Abitibi belt remains an active mining region with plenty of potential for new discoveries.
Mining Activity and the Potential for Discovery
With one end in Wawa, Ontario, and the other in Chibougamau, Quebec, the Abitibi’s location spans two jurisdictions that offer various advantages for mining companies.
Ontario and Quebec are two of Canada’s top mining jurisdictions with 2019 exploration expenditures of $432.4 million and $496.7 million, respectively. Mining companies in the Abitibi benefit not only from its rich resource endowment but also from the infrastructure, skilled workforces, and mining-friendly policies in its jurisdictions.
In fact, the Abitibi has produced around $12 billion in mining M&A transactions since 2013.
|Year||Buyer/Investor||Target||Value (US$, millions)|
|2014||Yamana Gold, Agnico Eagle||Osisko Mining||$3,600|
|2014||Osisko Gold Royalties||Virginia Mines||$424|
|2015||Kirkland Lake Gold||St. Andrew Goldfields||$134|
|2016||Tahoe Resources||Lake Shore Gold||$538|
|2017||Alamos Gold||Richmont Mines Ltd||$764|
|2017||Eldorado Gold||Integra Gold||$432|
|2017||Osisko Gold Royalties||Orion Mine Finance*||$864|
|2018||Bonterra Resources||Metanor Resources||$60|
|2019||Kirkland Lake Gold||Detour Lake||$3,700|
|2020||Yamana Gold||Monarch Gold*||$114|
|2021||Eldorado Gold||QMX Gold||$105|
*Osisko Gold Royalties bought a portfolio of royalties from Orion Mine Finance and Yamana Gold bought two properties from Monarch Gold.
Back in 2014, Yamana Gold and Agnico Eagle each bought a 50% stake in Osisko Mining for a total of $3.6 billion to own Osisko’s flagship Canadian Malartic Mine, Canada’s largest gold mine. In a similarly-sized transaction in 2019, Kirkland Lake Gold acquired the Detour Lake mine—the second-largest gold mine in the country, for $3.7 billion. Both of these mines share a common home—the Abitibi greenstone belt.
The Legacy Continues
The Abitibi belt remains a hub for mining activity with Canada’s largest gold mines and 28 exploration projects on the hunt for precious metals and the next wave of M&A transactions.
With its rich history, remarkable geology, and plenty of gold left to discover, the Abitibi greenstone belt’s legacy as one of the world’s most important gold districts will continue.
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