In a new report, Siemens argues that Covid-19 is fuelling digital transformation, and financing plans will be essential to keep up with the demand for it

Siemens indicated in its report that billions of dollars would be frozen without financing agreements (Credit: Shutterstock/ Andy Dean Photography)

Siemens Financial Services (SFS) says financing plans will be “essential” in digital transformation in healthcare, especially as efforts are ramped up by the pandemic.

The company released a new insight study tracking the pressure on resources in healthcare around the world, titled Easing the Pressure: Working Smarter in the Healthcare Sector, which it believes indicates the danger of locking capital away by outright spending it on improvements.

The research evaluates the improvements being achieved in overall patient outcomes, and then combines these factors to give a comparative picture of value delivery in healthcare across fourteen countries.

Chris Wilkinson, head of sales for healthcare and public sector, Siemens Financial Services, said: “Healthcare systems around the world are under greater pressure than ever to transform care delivery,”

“While the value of digital healthcare is widely understood, limited capital expenditure budgets represent a significant hurdle for investment.

“Smart finance can help healthcare management to unlock capital and realise sustainable digital transformation projects.”

SFS describes capital spent outright in pursuit of digital transformation as “frozen” in its report, which claims billions of dollars will be made unavailable in this way after spending on diagnostic imaging has accumulated between 2020 and 2025.

It estimates more than $15.6bn will be frozen in the Asia-Pacific region, followed by roughly $12.3bn in The Americas and nearly $9.7bn in Europe.

By using financing arrangements – the main service sold by SFS – the company argues that these funds remain liquid and available for other urgent and tactical needs.