With so many uncertainties in healthcare today, it is challenging to predict what the future of healthcare will hold. Below we will highlight five trends in healthcare that could drive the landscape in 2017 and beyond.
- Shift from Volume to Value: This evolution towards a value-based reimbursement system is in the interest of patients, healthcare providers and payers alike. A value-based reimbursement system incites healthcare providers to deliver the best care at the lowest cost while patients receive a higher quality of care at a better value.
- High-Tech Healthcare: 2016 has been a key year for healthcare technology, not only with innovations in medical devices and software, but also in the way healthcare is managed and administered, both from a care and financial perspective. The North American health IT market is expected to reach $104 billion by 2020, according to a recent report by MarketsandMarkets. A majority of this growth is due to the adoption of various healthcare IT solutions by healthcare providers in order to improve the quality of healthcare while upholding the operational efficiency of healthcare organizations. Artificial intelligence, robotic care, wireless wearable sensors, and telemedicine are among key advances that will transform industry. For more on technologies to look out for visit here.
- Power of Consumerism: For years, consumer demands have played a large role in the service, airline and hotel industries. Today, as patients begin to assume a greater portion of their healthcare costs, they are putting more time, effort and research into making informed decisions related to their care. As this trend in consumerism moves towards the healthcare industry, providers must be willing to better cater to patients’ demands for transparency, value and convenience.
- Effects of an Aging Population: The population throughout the world is rapidly aging. In 2050, the population aged 65+ in the US is projected to be 83.7 million, almost double its estimated population of 43.1 million in 2012.The change in age distribution will have overwhelming and multifaceted health, social and economic repercussions. Along with a rapidly aging population comes an increase in the pervasiveness of chronic diseases and their effects. The elderly often have multiple health conditions, take several medications and require more frequent communication with healthcare providers. Providing adequate care efficiently and cost effectively will be essential over the next several decades. One part of the solution will be telemedicine which allows providers and patients to connect remotely for follow up visits, medication supervision and the management of chronic disease.
- Move from Population to Personalized Health: In the United States, despite recent advances, our healthcare system still generally operates as a one-size-fits-all model. Some refer to this as the “population model”. This model suggests that the majority of people benefit from a homogeneous course of treatment whether that be for a cold or a broken arm. Personalized medicine, on the other hand, supports the customization of health care. It aims to focus on preventative medicine, as well as tailor treatments to an individual so a disease or illness can be targeted in a way that promises the highest chance of success based on the characteristics of the individual.
Now, more than ever, it is essential that we anticipate what is next, navigate the changing landscape and solve the toughest healthcare challenges. Here at PNS we will keep a pulse on these trends and keep you up to date.by Carolina Diaz on May 9, 2017