With quality, outcomes, and value being the watchwords for health care in the 21st century, sector stakeholders around the globe are looking for innovative and cost-effective ways to deliver patient-centered, technology-enabled “smart” health care, both inside and outside hospital walls.
Creating a positive margin in an uncertain and changing health economy
Public and private health systems have been facing revenue pressures and declining margins for years. The trend is expected to persist as increasing demand, infrastructure upgrades, and therapeutic and technology advancements strain the already limited financial resources. As a result, spending is expected to be driven by aging and growing populations, developing market expansion, clinical and technology advances, and rising labor costs. As health care costs increase though, affordability and insurance coverage remain problematic. Health care providers are also collaborating to gain competitive advantage. [caption id="attachment_25113" align="aligncenter" width="640"] Organizations may meet some of the objectives of care delivery through digitization of the health care system. At the outset, keeping pace with rapid technology developments is likely to require massive investments in electronic patient records, eHealth/mHealth, interoperability, and big data amongst others.[/caption]Strategically moving from volume to value
The health care industry is participating in risk-bearing, coordinated care models and continues to move away from the traditional fee-for-service (FFS) system. Stakeholders are moving from volume to value through reform policies, programs promoting operational efficiency, technology use, population health management, wellness, and addressing the social determinants of health.Responding to health policy and complex regulations
Health systems worldwide share overarching health policy and regulatory goals – ensuring quality care and patient safety, mitigating fraud and cyber threats. Digital health care technology solutions addressing better diagnostics and more personalized therapeutic tools are leading to the challenge of data protection. [caption id="attachment_25114" align="aligncenter" width="640"] Digital technology, robotics, and other automated tools have enormous potential to resolve current and future health care workforce pain points. Health care providers should embrace strategies where talent can collaborate with technology to improve efficiency instead of competing against each other.[/caption] The trends in data management and security include cognitive computing, cloud-based, interoperable electronic health records, and Internet of Things (IoT). Cybersecurity and data risk management continue to be front and center, especially with patients taking a more active control of their health, and wanting access and reliability to their data.Investing in exponential technologies to reduce costs, increase access, and improve care
Exponential technologies are driving less expensive, more efficient, and more accessible care delivery on a global scale. A few trends which impact care delivery are:- Exponentials will reshape health care by impacting areas such as synthetic biology, 3D printing and nanotechnology, and companion diagnostics amongst others.
- Hospitals of the future are being built through redefined care delivery, digital and AI technologies, and enhanced talent development.
Engaging with consumers and improving the patient experience
Hospitals can provide more personalized care through better engagement with consumers and elevate patient experience by using digital solutions to aid omni-channel patient access, including customer apps, patient portals, personalized digital information kits, and self-check-in kiosks. Other digital channels, and tools to enhance provider-consumer interactions include:- Leveraging social media to improve patient experience
- Telehealth
- Virtual reality/augmented reality