Tuesday, February 18, 2014

Healthcare Industry Trends for 2014

Change is all around us - from how we interact with our family, buy groceries, or do our jobs. Just like our daily lives, these shifts impact the medical world. Here are 5 leading trends we will see in the healthcare industry for 2014. 

What are ACO's? Accountable Care Organizations are groups of doctors, hospitals, and other health care providers who coordinate their work together to provide care for Medicare patients.  Basically these organizations are accountable for how they are using medicare funds and making collective decisions for the best care and best costs for patients.  ACO's continue to grow in numbers and many are looking at ways to become involved.

Price Transparency
The demand for better price transparency continues to increase.  From confusing medical bills and insurance-speak, consumers are left confused and frustrated.  Providers who are making it a priority to have stronger transparency will likely win over patients and consumer appeal.

Digital Technology
Technology is integrated all we do. The medical world needs to keep up.  Mobile, social, and cloud technologies will impact how organizations interact with their patients, suppliers, and within their business.  Patient want access to medical assistant beyond the clinic or doctor's office.  The most successful providers will be embracing these technologies.

Home Care Expansion
Driving care into the patient homes continues to grow.  Home care drastically reduces overhead, cutting some costs by 30%, it is convenient for the patients, and overall increases the quality of care because patients generally do better in home environments.

Wellness Incentives
Companies large and small are now offering incentives for healthy behaviors.  These incentives can be gift cards, cash rewards, or discounts on health insurance. The organization has a healthier work force which reduces sick days and insurance costs.  Employees are rewarded with health and incentive perks.

How are you seeing or capitalizing on these trends within your organization?  Please share your thoughts below. Wishing you a very Happy New Year - let's make it the best one yet!