COVID-19: The Life Sciences Industry Rises to the Challenge

As the Covid-19 epidemic continues, the medical community world-wide struggles to cope with its impact. SmartTRAK's analysts are constantly monitoring the effect COVID-19 is having on the Life Sciences industry, sifting through the noise to present the most relevant news to its subscribers. Our analysts continue to publish real-time updates throughout the day, detailing what you need to know about the impact the international healthcare crisis is having on the industry at large.

Following is a selection of the COVID-19 updates from the past week as compiled by the analysts at SmartTRAK:

New CMS Guidelines for Providing Non-COVID-19 Care
CMS issued guidance on providing a gradual process for restarting non-COVID-19 care in areas w/ low incidence of the disease including coordination w/ local and state public health officials and readiness assessment in terms of staff, supply and testing capabilities. CMS.gov

AHA & Others Develop Joint Guidelines for Resuming Elective Procedures
AHA, ACS, ASA and AORN have developed joint guidelines to help providers determine their readiness to resume elective procedures including a sustained reduction in COVID-19 cases in their geographic area for at least 14 days and having the appropriate resources. AHA.org

Switzerland Easing Restrictions While Others Extend Theirs
Switzerland announced a 3-step plan for easing restrictions due to COVID-19 including allowing hospitals to perform elective procedures. The UK, however, extended its lockdown for 3 more weeks similar to extensions in Italy, Spain, and France. CIDRAP

AHA/ASA Temporary Emergency Guidance for US Stroke Centers
In April 2020, the AHA/ASA Stroke Council Leadership published Temporary Emergency Guidance to US Stroke Centers During the COVID-19 Pandemic offering provisional guidance regarding treatment guidelines, PPE, telemedicine, personal health and safety and teamwork. Stroke

McKinsey Warns 1 in 4 Jobs in Europe "At Risk"
McKinsey warns that the EU unemployment rate could increase from ~6% to > 11% and remain elevated for yrs if COVID-19 is not quickly contained. The consulting firm estimates 60MM Europeans are at risk for furloughs, layoffs or wage cuts. CNN

COVID-19: Survey Estimates 60% Decrease in Pt Volume
Medical Group Management Association reports, on avg, medical group practices have experienced a 55% decrease in revenue and 60% decrease in pt volume since the beginning of the COVID-19 crisis in the US. Numbers of layoffs are projected to reach 36% w/ 60% furloughed. MGMA.com

WFS COVID US Tracking Report #2

• Surveyed physicians (N=436) expect a high % of procedures to be postponed, but the vast majority say most will be rescheduled w/in 6 mos. Procedures hardest hit by postponements include THR (94%), TKR (94%), cataract surgeries (93%) and SNM (91%). Wells Fargo Securities
• Surveyed physicians (N=436) say rescheduled procedures will be accommodated by: (1) adding add’l cases to each surgery day (87%); (2) adding add’l surgery days (69%); and (3) referring pts to other facilities (9%). Wells Fargo Securities. Since the COVID-19 pandemic, pain management physicians’ (N=50) average weekly consults for SCS procedures are down from 22.8/wk to 3.0/wk according to the results of an online survey of 436 multispecialty physicians conducted btwn 3/24/20-4/2/20. Wells Fargo Securities
• Pain management physicians’ (N=50) weekly SCS procedures are down 91% after the start of the COVID-19 pandemic according to the results of an online survey of 436 multispecialty physicians conducted btwn 3/24/20-4/2/20. Wells Fargo Securities

• Canaccord Genuity reports its recent survey shows a sharp decrease in Ortho practice volumes of ~70% w/ expected improvement in May and flattening out in June but still down 49%. Most respondents expect to makeup postponed procedures w/in 6 mos.
• Based on its Ortho survey, Canaccord Genuity expects to see a sharp acceleration of procedure volumes in H220 weighted to Q4. Survey results showed 86% of respondents expect a return to normalized volumes by year-end w/ 46% expecting a Q4 recovery.
• Use of telemedicine by Orthopods seems to be up based on Canaccord Genuity’s recent survey w/ 22% of respondents saying they are now using the technology up from 14% in Mar.