Healthcare Hurdles and Transformation

The United States has undergone a problematic two years for global health, which saw the advent of a global pandemic which fundamentally altered the functions of the nation, and resulted in changing health priorities for the nation. Although this was clearly the most significant health issue facing the nation in our lifetimes, the ways in which it affected the economy, and the health industry are likely to reverberate for the foreseeable future.

What form these shifts will take for the Healthcare industry is dependent on the actions of the healthcare organizations themselves, as well as government policies, and the continued aftermath of Covid-19 and subsequent vaccinations. However, the most relevant factor will be how willing the healthcare organizations are to embrace new technologies, strategies, and methods to address both new and old problems plaguing the industry.

Healthcare Issues

The biggest issues facing the healthcare industry in the U.S. can largely be isolated to include the issues relating to the continual Covid-19 pandemic, and many of the previous issues that continually plague the industry. The latter group is primarily limited to recurring issues within the healthcare industry, such as the potential increases of government programs like Medicaid, and aspects of the industry typically critiqued, such as a lack of clarity in pricing and the increasing costs of healthcare generally. This category of problems is increasingly notable when one considers the percentage of spending that is used for healthcare purposes nationwide, and the potential increases which are likely to occur as a result.

However, companies are likely to continue their cultural maturation by highlighting social issues such as inclusion and diversity via internal procedures, as well as through ensuring that such problems arising as discrimination in patient care are highlighted and addressed.

Economic Issues

Notably, 2020 saw healthcare spending rise from $3.81 trillion in 2019 to $4.01 in 2020. However, if the global trends noted by the CMS continue, it is likely that this spending will continue to increase, with the number reaching $6.19 trillion by 2028. However, whether or not these projections prove correct will depend on a variety of issues and policies. This includes the actions of various state and federal actors and the methods they employ to address the continued economic impact of the COVID virus, as well as their work in encouraging the public to undergo vaccinations and other precautions to prevent continued outbreaks. Additionally, the role of innovative models could help to reduce these projections to more sustainable levels if they are fully embraced by the world population and help to increase the economic viability and stability of the healthcare industry.

Different Models

One model which could present a solution to many of these problems is the value-based-care model. This model focuses on increasing transparency within the industry and allowing the patients to be more involved in their healthcare. In addition, this model has a focus on the provider in giving patients more specialized care, particularly with those who suffer from chronic illnesses which is typically a serious drain on the financial well-being and stability of such individuals.

Another related example is the care model innovation, which places further emphasis on patient autonomy and treatment. Although this innovation has several different features and tenants, the major takeaway from it is that the team is proactive in addressing issues and concerns, and that the patients are given the tools to be their own advocates.

Technological Future of the Industry

The next few years are likely to see the continuation of the trend of technology being further increased and popularized within the healthcare industry. However, one important facet of this is that clerical and administrative tasks are likely to continue to be supplemented by technological support. Additionally, healthcare analytics has been a growing technology in the industry, which is a trend that is all but certain to continue within the industry. However, only time will tell if these innovations will make a substantive impact on cost and patient care.

Sources:
https://www.managedhealthcareexecutive.com/view/collaborating-to-support-better-outcomes-through-value-based-care
https://www.ahrq.gov/ncepcr/tools/pf-handbook/mod16.html
https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Trends-and-Reports/NationalHealthExpendData/NationalHealthAccountsHistorical#:~:text=The%20National%20Health%20Expenditure%20Accounts,spending%20in%20the%20United%20States.&text=U.S.%20health%20care%20spending%20grew,spending%20accounted%20for%2017.7%20percent.