Trending...
- IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement
- New AI Academy Helps Therapists Embrace Tech Without Losing Their Humanity
- Suzanne Harp named Managing Director in Texas, USA
VANCOUVER, British Columbia - PennZone -- The pandemic has highlighted the macro-level challenges of the healthcare landscape – legal, regulatory, and economic obstacles and enablers. These were issues that existed before the pandemic, but as COVID-19 continues, the need to tackle these issues will only increase in relevance for health care systems, hospitals, and health care plans in order to best serve stakeholders.
According to Deloitte, healthcare spending is expected to rise by 5% annually from 2019-2023. Yet, there are several aspects of the industry that require reform in order to deal with the rising costs of health care, including the rising cost of health care management. Here are a few trends in healthcare that can help improve the health care experience for patients while also benefiting healthcare providers and streamlining health care.
Here are a few future trends anticipated in the healthcare industry.
Payment Reforms
Health care payment reform is one focus area -- as costs increase, the need to achieve less with more will prove more important. Value-based payment models may present a better alternative to existing payment models because, as Deloitte writes, they can help "providers, payers, and patients achieve the best outcomes at the lowest cost."
More on The PennZone
Consumer-Focused Health Care
Beyond payment reforms, healthcare providers must continue to focus on the consumer and move towards patient-centered rather than clinician-centered care. The shift to patient-centered care includes improving health care convenience and access, for example, via telehealth and digital tools. Consumer-focused efforts can also drive down costs for the patient, while improving quality of life and patient outcomes. They can also streamline the health care process, which makes things easier for health care providers.
Interoperability is another aspect of consumer-focused health care that makes it easier for patients to have access to their health care records – as well as easier for their files to be transferred from one health care location to another. As technology continues to advance, there is an increased need for electronic medical records (EMR) that can actually provide portability between different institutions. Information sharing reduces bureaucratic barriers to care, reduces doctors' work, and ensures the highest standard of care by providing care providers with the best, most complete EMR information.
Taking Stock of Uncertainties in the Healthcare Industry
Uncertainties such as rising health care costs, changing patient demographics, evolving consumer expectations, new entrants (including nontraditional players such as telemedicine and digital disease management platforms) to the healthcare market, and the complexities of the health and technology ecosystems require a forward-thinking approach to health care, especially in the context of the COVID-19 pandemic, but also in the future.
More on The PennZone
Stakeholders in the healthcare industry must invest in value-based care, innovative models for care delivery, advanced digital technologies such as telehealth, data interoperability, and ways to prepare for the abovementioned challenges.
Improving technology will be a major force in healthcare innovation in the next few months and even years. Artificial Intelligence (AI) and Machine Learning (ML) will continue to help make medical and health care platforms easier to use for stakeholders, and advanced analytics can help accelerate innovation in this space as well.
The future of healthcare, according to McKinsey, includes "consumer-centric personalized, intuitive, and integrated health and social care ecosystems." The current COVID-19 pandemic will differentiate the winners from the losers in terms of balance sheets, company performance, investment in growth, and the ability to adapt and remain resilient in the face of crisis.
Sources:
https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/seven-healthcare-industry-trends-to-watch-in-2020
https://www2.deloitte.com/us/en/pages/life-sciences-and-health-care/articles/global-health-care-sector-outlook.html
https://bmcnurs.biomedcentral.com/articles/10.1186/s12912-019-0337-z
According to Deloitte, healthcare spending is expected to rise by 5% annually from 2019-2023. Yet, there are several aspects of the industry that require reform in order to deal with the rising costs of health care, including the rising cost of health care management. Here are a few trends in healthcare that can help improve the health care experience for patients while also benefiting healthcare providers and streamlining health care.
Here are a few future trends anticipated in the healthcare industry.
Payment Reforms
Health care payment reform is one focus area -- as costs increase, the need to achieve less with more will prove more important. Value-based payment models may present a better alternative to existing payment models because, as Deloitte writes, they can help "providers, payers, and patients achieve the best outcomes at the lowest cost."
More on The PennZone
- $17.4 Million Total Revenue for First Half of 2025 (up 31.8% YOY) for Global Wet Trades Services Provider with High Value Bitcoin Investments
- $12.8 Million Net Revenue for 2024 for Cloud-Based Crowdsourcing Recruitment and SaaS-Enabled HR Solutions Provider: Baiya International Group Inc
- #ChipInChipAway at Hunger Taking Place on July 10th, 2025
- Hire Virtue Announces Executive Sponsorship Opportunity for Houston Hiring Blitz & Job Fair on August 6, 2025
- Inked & Maxim Model Teisha Mechetti Turns Heads—And Builds Community Impact
Consumer-Focused Health Care
Beyond payment reforms, healthcare providers must continue to focus on the consumer and move towards patient-centered rather than clinician-centered care. The shift to patient-centered care includes improving health care convenience and access, for example, via telehealth and digital tools. Consumer-focused efforts can also drive down costs for the patient, while improving quality of life and patient outcomes. They can also streamline the health care process, which makes things easier for health care providers.
Interoperability is another aspect of consumer-focused health care that makes it easier for patients to have access to their health care records – as well as easier for their files to be transferred from one health care location to another. As technology continues to advance, there is an increased need for electronic medical records (EMR) that can actually provide portability between different institutions. Information sharing reduces bureaucratic barriers to care, reduces doctors' work, and ensures the highest standard of care by providing care providers with the best, most complete EMR information.
Taking Stock of Uncertainties in the Healthcare Industry
Uncertainties such as rising health care costs, changing patient demographics, evolving consumer expectations, new entrants (including nontraditional players such as telemedicine and digital disease management platforms) to the healthcare market, and the complexities of the health and technology ecosystems require a forward-thinking approach to health care, especially in the context of the COVID-19 pandemic, but also in the future.
More on The PennZone
- Plan to Launch Silo Technologies' Cybersecurity Pilot Program for Ultimate Nationwide Deployment via Exclusive Partnership: Stock Symbol: BULT
- Robert Michael & Co. Real Estate Team Celebrates Industry Recognition and Showcases Premier Central Florida Listings
- INVESTIGATION ALERT: Berger Montague PC Investigates Aflac, Inc.'s Board Of Directors For Breach of Fiduciary Duties (NYSE: AFL)
- AI-Based Neurotoxin Countermeasure Initiative Launched to Address Emerging National Security Needs: Renovaro, Inc. (N A S D A Q: RENB)
- The Naturist World Just Shifted — NaturismRE Ignites a Global Resurgence
Stakeholders in the healthcare industry must invest in value-based care, innovative models for care delivery, advanced digital technologies such as telehealth, data interoperability, and ways to prepare for the abovementioned challenges.
Improving technology will be a major force in healthcare innovation in the next few months and even years. Artificial Intelligence (AI) and Machine Learning (ML) will continue to help make medical and health care platforms easier to use for stakeholders, and advanced analytics can help accelerate innovation in this space as well.
The future of healthcare, according to McKinsey, includes "consumer-centric personalized, intuitive, and integrated health and social care ecosystems." The current COVID-19 pandemic will differentiate the winners from the losers in terms of balance sheets, company performance, investment in growth, and the ability to adapt and remain resilient in the face of crisis.
Sources:
https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/seven-healthcare-industry-trends-to-watch-in-2020
https://www2.deloitte.com/us/en/pages/life-sciences-and-health-care/articles/global-health-care-sector-outlook.html
https://bmcnurs.biomedcentral.com/articles/10.1186/s12912-019-0337-z
Source: Braeden William Lichti
0 Comments
Latest on The PennZone
- Make Innovation Matter: Support H.R.1's R&D Expensing Relief for American Small Businesses
- Agreement to Supply US-Based Defense Provider with Thin-Film Solar Tech for Orbital Application; Ascent Solar Technologies, Inc. (N A S D A Q: ASTI)
- Byrd Davis Alden & Henrichson Launches Independence Day Safe Ride Initiative with 500 Free Uber Credits
- VIP Vacations Recognized as a Top 50 Producer with Pleasant Holidays
- Big Butler Fair Announces 2025 Music Lineup and Grandstand Events
- databahn Launches GenAI Sales Intelligence Platform to Revolutionize Fortune 500 and Global 2000 Account Research
- IRF Builders Forum Brings Global Leaders to Washington, D.C. to Advance Religious Freedom Through Cooperative Engagement
- Colorado Scenthound Locations Partner with Humane Colorado to Give Adopted Dogs a "Clean Start"
- Endoacustica Europe Unveils iPhone 13 Pro Max Spy Phone—Pure Hardware, Zero Software Changes
- Suzanne Harp named Managing Director in Texas, USA
- $10 Million Acquisition of GXR World Sports Assets Energizes Global Launch of Sports.com Super App by Online Lottery-Sports Game Provider: Lottery.com
- Shop American Made Goods: New Online Marketplace My American Goods Curates the Best of U.S. Made
- Penn Mutual Earns 2025 Great Place To Work Certification™
- Investor Spotlight: Cycurion, Inc. (N A S D A Q: CYCU) Secures $69M in Contracts Amid Surging Demand for AI-Powered Cybersecurity Solutions
- $328 Million Global Stroke Rehab Market Opportunity Awaits AI Telehealth Leader Following Selection for NIH Funded Phase 3 Clinical Study: VSee Health
- Ascent Solar Technologies Enters Collaborative Agreement Notice with NASA to Advance Development of Thin-Film PV Power Beaming Capabilities: ASTI
- VoodooSoft Unveils SiriusLLM: The World's First ChatGPT-Like AI Malware Detection Engine
- This Ain't Press. This Is Pressure — Star Command by RansomXX is Out Now
- An Exclusive VIP Reception Honoring Vocal Prodigy Alliana Lili Yang's Remarkable Achievements and Magazine Cover Spotlight
- Joyce Carol Oates Returns to Hard Case Crime With DOUBLE TROUBLE