Health and Economic Recovery in Latin America: Priorities for MetLife and Roche
COVID-19 exacerbated issues across almost every sector, but particularly in healthcare. Roche and MetLife wanted to show their commitment to the Latin American market. Here’s how BCIU helped its members address challenges in healthcare financing during the pandemic.
A Changing Landscape
The health of a country’s citizens is deeply connected to its overall stability and economic performance. Not only does the healthcare sector drive sustainable development, but it is also often one of the largest — if not the largest — employers in many areas.
The healthcare sector provides on average, around 10% of total employment in Organization for Economic Co-operation and Development (OECD) countries.
The COVID-19 pandemic has only further highlighted the critical relationship between public and economic health. The prolonged, country-wide lockdowns and disruptions to global supply chains due to the pandemic sent most countries into recession in 2020 and caused a downgrade in growth. COVID-19 made it clear that during times of crisis, weak healthcare systems can impact a country’s stability and undo years of progress made towards the U.N. Sustainable Development Goals.
When Opportunity Meets Strategy
Roche, a life sciences company, and MetLife, an insurance company, adjusted their business priorities as a result of the pandemic and were looking to do even more to support the communities they serve. To help both companies engage with government officials in their respective priority markets during a critical time, BCIU organized a dialogue featuring Roche, MetLife, and regional experts. The panel discussion focused on pandemic-related financing challenges currently facing healthcare systems and featured highly knowledgeable panelists and keynote speakers.
The event brought together a mix of the private and public sector, including high-level representation from important organizations, such as the Economic Development Division of the Economic Commission for Latin America and the Caribbean, OECD, London School of Economics, Inter-American Development Bank, and government representation from ministries of health as well as other diplomats. BCIU advised Roche and MetLife throughout the process as the dialogue tracks were designed and conceived, ensuring that real-time needs and pain points within the region were addressed.
We served as a trusted advisor and strategic partner, as the program was co-created with Roche and MetLife and helped determine the discussion tracks in order to address regional needs. This was an opportunity to highlight the capabilities of our members and bring timely solutions forward.
- Reid Harrison, Coordinator, Life Sciences, BCIU
A Real Difference
After the program, MetLife, Roche, and participants considered the event a success. The program drove member exposure among government entities, including Chile’s Ministry of Health and the President’s office in Panama. Throughout the discussion, expert panelists shared real-time insights to the dynamic challenges surrounding financing in healthcare, with a special focus on the COVID-19 pandemic in Latin America, solidifying the member companies’ reputations as experts in the conversation.
BCIU helped convene a timely dialogue that shed light on key issues exacerbated by the pandemic as well as the urgent need to transform health systems, so they are prepared for future crises and can serve their populations sustainably.
- Rolf Hoenger, Head, Latin America, Roche Pharmaceuticals