Healthcare Executive and Investor COVID-19 Statement

As senior executives of and investors in numerous growth oriented and entrepreneurial healthcare companies across the country dealing with hospitals, doctors, clinical services providers, device and pharma companies, insurers and most importantly patients, we are well aware of the pandemic’s impact on those most affected by COVID-19. The U.S. health care system is the most innovative and technologically advanced in the world, but it is also fragmented geographically and highly regulated, which presented obstacles to an efficient, nationwide coordinated response to the COVID-19 crisis. At the outset of the outbreak, it was necessary to prohibit all but emergency healthcare services, including elective surgeries and other clinical care to repurpose capacity for COVID-19 cases. The industry quickly mobilized towards this goal in extraordinary ways, and all Americans have been humbled by the commitment and performance of our frontline healthcare workers. However, this dramatic reduction in overall capacity endangered the very healthcare system that the stay-at-home orders are/were intended to protect, causing unintended consequences to all types of patients.

The economy’s reopening is heavily dependent on restoring the industry’s capacity to service both COVID-19 and all other patients, as well as expanding clinical and testing capacity to allow for all workers, students, parents, patients and retirees to return to their schools and lives without fear. We believe that the private sector in healthcare, which employs over 15 million Americans who pride themselves on being committed to rendering solutions to patients of all kinds, will play a large role in managing this challenge effectively while minimizing the potential risks of a resurgence in COVID-19 cases. As a result, we understand the urgency and importance of the task ahead.

A clear and resolute drive to change the health care system in the U.S. for the better is gathering strength at a fast pace. Our companies, their employees, clients, competitors, patients and colleagues in the non-profit sector of the industry, among others, have spoken. Collectively, we believe that the path towards meaningful improvement in quality care with a corresponding decline in cost is an industry wide adoption of the following principles:

  • Address this “on-ramp of the economy” challenge with high energy, intense pride and humility.

  • Channel our competitive spirit to improve outcomes while reducing the total cost of the system.

  • Modify our business models, if necessary, to increase productivity and improve employee/patient satisfaction levels.

  • Continue to invest in innovative technologies, clinical pathways and care models, including the rapid development of therapeutic and diagnostic solutions to address this and future pandemics.

  • Develop and incorporate tools for data accumulation, effective analytics, pricing transparency and enhanced interoperability.

  • Advance the use of Value Based Care to align incentives among providers, payers, and patients.

  • Assure that supply chains regain full functionality and are sustainable under potential future pandemic events.

  • Better identify, surveil and communicate with the higher risk and most vulnerable populations to reduce mortality and enhance quality of life.

  • Support the further development and investment in public health infrastructure and innovation.

  • Improve access and affordability to the system for those among the lower income cohorts; and most importantly,

  • Leave politics completely out of it.

The net results of a steadfast commitment to these tenets is a reengineered healthcare industry that operates more efficiently, with greater consumer engagement, and is much better equipped to cope with the risk of future pandemics. The private sector companies in healthcare that have and will embrace these principles should provide substantial and fulfilling employment opportunities, support the restoration of economic growth in the U.S. and reduce the cost of healthcare relative to our GDP. Furthermore, these guiding principles are meant to ensure our industry will emerge from this period reassuming its standing as the global leader in health care.

As we apply our energy, knowledge and resources to these goals, we will not be distracted or diverted by the divisive political rhetoric that has permeated our society, and we will cooperate with local and national civic minded entities in mutually beneficial ways.

This crisis presents us with an opportunity that should not be wasted. The time to restore the trust and confidence of all Americans in our healthcare system is now, and we are well equipped to take on this challenge.

Peloton Equity, our Portfolio Company CEOs, Advisory Board and Operating Partners

Michael O'Rourke