According to research findings from PricewaterhouseCoopers Health Research Institute (HRI), there are five healthcare trends that are transforming the healthcare landscape. While some of these trends are fueling growth, some are also inhibiting growth, causing challenges for many healthcare providers.
The trend that will be the most likely to grow is the shift from volume-based care to value-based care. The shift to value-based care is the trend with the most immediate impact on the healthcare industry, as the government is moving to link the majority of Medicare payments to quality based care programs by 2018.
The trend that will restrain growth in healthcare is wellness and health management. As there has been a focus on wellness and health management, resources could be siphoned from patients who are relatively more sicker than others. A heavier focus on wellness by employers and insurers, as well as the hiring of dietitians and nutritionists, could funnel revenues out from services that are meant for other patients.
Decentralization of healthcare, meaning that healthcare is spread out to include virtual care, remote patient monitoring and retail clinics, could also slightly inhibit growth. According to a survey this year by HRI, 42% of consumers had visited a clinic, compared to less than 10% in 2006.
Another growing trend is technological advances and digitization, which includes technologies such as 3D printing, digital health data, and machine learning. These trends can produce growth for diagnostics and therapeutics, platforms and support and wellness markets in the long-run, due to the increased efficiency and automation.
Consumerism is a trend that is producing growth in the industry; as there are more cheaper, efficient and convenient options to choose from, consumers are getting the wellness and care they need to make them healthy.
Read the article from Healthcare Finance here.
The post Top 5 Trends Transforming Healthcare appeared first on CHMB Inc..
