Over the last few years, the healthcare sector has witnessed some major opportunities and breakthroughs. With continued efforts to improve Federal health care reforms, including the plans to expand association health plans and increase funding and policy solutions to tackle opioid misuse and addiction, there’s a lot expected in the healthcare landscape.
Over the last few years, the healthcare sector has witnessed some major opportunities and breakthroughs. With continued efforts to improve Federal health care reforms, including the plans to expand association health plans and increase funding and policy solutions to tackle opioid misuse and addiction, there’s a lot expected in the healthcare landscape.
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Below, we’re going to discuss some of the top trends expected in the healthcare market.
Increased Value of Health Care with Lower Costs
When talking about value in healthcare, it’s all about creating and delivering better quality care, while keeping costs lower. Through alternative payment models, we’re set to see more affordable, quality health care options through the Medicare Insurance plan. This is why more people are adding a Medicare Supplement plan to their basic Medicare coverage so as to enjoy the benefits of increased value with lower costs on their end.
A closer look at the Medicare Supplement plan types reveals a broader trend to provide additional health coverage for people with Medicare while covering costs that the original Medicare didn’t cover. As healthcare needs arise, we’re set to see more options being introduced to fill in the gaps in the healthcare sector.
New Technology Trends
According to leading medical technology providers, healthcare information technology is expected to become more accepted across the industry, as well as more user-friendly and accessible. Medical innovations are also expected to enable and encourage patients and consumers to use and adopt technology when seeking health care and monitoring their own health.
Telemedicine is one area that is expected to grow as more physicians, hospitals, healthcare systems and home care services invest in it. This technology is particularly important in facilitating the growth and development of the much needed “hospital in the home” model of health care. App-enabled patient portals, text communication and remote patient targeting, are other technology trends expected to drive growth in the industry.
Personalization of Healthcare
As more patients demand personalized healthcare solutions, the gradual shift to personalization of care is expected to drive the industry. Globally, the market is expected to be worth up to $149 billion by 2020, according to discussions on the key drivers of personalization of healthcare. Personalized healthcare helps gauge each individual’s health risks based on biomarkers and biological information.
Individuals are provided with necessary tools like fitness and digital health apps and at-home testing kits to monitor their health. Today, patients are able to access these on-demand healthcare solutions that enable them to understand and monitor their own health while also receiving a doctor’s input.
Increased Partnerships and Collaborations
The past two or three years have been dotted with news of new partnerships and collaborations in the healthcare industry. Healthcare industry partnerships are happening as more healthcare centers and facilities realize the need for shifting from pay-for-service to pay-for-performance operating models.
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Healthcare organizations are seeking to eliminate duplication of services (clinical, administrative and management), overhead and avoid capital expenditures. Partnerships and collaborations in the healthcare sector are expected to enhance management talent and depth, as well as specialized expertise. Health care systems will also have greater control over healthcare.
Emerging Care Models
As a result of the increased healthcare partnerships and consolidation, the healthcare market is set to see an increase in emerging care models. Large healthcare systems will be needed to provide the scale necessary to meet niche market needs, achieve operating efficiencies and compete for more cost-conscious consumers.
Conclusion
With these new trends, the healthcare market will continue to grow as part of an emerging effort to provide better quality health care at a more affordable cost for patients and individuals. Amidst all these changes, the healthcare industry needs to proactively anticipate and respond to current and future trends.