Managers will face a number of challenges in the next year.
Healthcare is not only about treating patients anymore. This sector has been rapidly evolving over the past decade. With ever-changing government regulations and unforeseen challenges, such as the COVID-19 pandemic, healthcare managers have had to up their game to adapt to the situation. Added to these is the shift in patient expectations and fast-changing technological innovations.
In this article, we take a look at 5 critical challenges that healthcare managers will face in 2022 and beyond.
While telehealth has been a much-debated concept over the past decade, its adoption has skyrocketed recently. Indeed, during the COVID-19 pandemic, the percentage of U.S. consumers using telehealth has surged from 11-46%. This study by McKinsey also reveals that 76% of consumers are “highly or moderately likely” to use telehealth in the future.
Healthcare managers need to be ready for the increased demand for telehealth. This involves having the right types of equipment, environment, and properly trained staff. Yet, health care organizations will still need to accommodate face-to-face interactions, such as treating patients with Alzheimer’s.
Key takeaway: Ready-up for the telehealth boom but keep in mind that the current regulations will very likely be amended multiple times before a consensus is found.
As new technology and new regulations steadily make their way into healthcare, consumers’ experience and expectations may evolve. More and more patients may expect a streamlined patient experience that matches other consumer brands they are familiar with. Consumers crave convenience, such as being able to book appointments or download their health records on the go.
This can be especially tricky for healthcare firms that offer services in multiple locations. Just like developing a shift scheduling for employees, different patient data also needs to be consolidated and updated routinely. Healthcare firms that manage to pull this off will have the upper hand against healthcare providers still lagging behind.
Key takeaway: Patients and healthcare staff need to have access to the latest and most up-to-date data at all times.
Price transparency in the healthcare sector has been a roadblock for a long time now. More often than not, consumers fail to pay their financial responsibility due to confusing medical bills. In some cases, the lack of payment options is also a deterrent for consumers.
To address these issues, the Centers for Medicare and Medicaid Services (CMS) has introduced and enforced new regulations as of January 2021. Hospitals are now required to provide “clear, accessible pricing information online”, about the different services they offer. Yet, as of July 2021, only 5.6% of hospitals were fully compliant with the new regulations.
Key takeaway: Healthcare managers need to ensure their organization is compliant with CMS policies as soon as possible.
As mentioned above, there are a number of consumers who fail to meet their financial responsibilities due to the current ineffective payment models. As consumer expectation shifts, patients, payers, and stakeholders are demanding new healthcare payment models. Examples include shared savings for patients, global payments, and even bundled payments.
Healthcare managers should keep in touch with the latest fintech advances and early adopters. Providing new payment models should benefit both the patient and the organization. In the best-case scenario, new payment models should improve patient outcomes, while reducing operational costs and maintaining profitability.
Key takeaway: Any new payment model to be implemented should be tested, analyzed, and fine-tuned before going live.
Data breaches and cybersecurity concerns have for long been a concern for the healthcare sector. Yet, the past couple of years has highlighted the vulnerability of sensitive data, as more patients turned to telehealth. From August 2020 to July 2021, it was reported that the healthcare data of 44,369,781 individuals has been compromised.
Healthcare managers should invest in securing their infrastructure and sensitive information. Also, it is crucial to ensure that all third-party technologies used are secure and possess the HITRUST Certification. Failing to do so not only damages the healthcare firms’ reputation but also makes them liable to heavy financial penalties.
Key takeaway: Data protection should be part of any healthcare provider’s routine operations and have a dedicated budget on its own.
The healthcare industry is changing rapidly and new challenges crop up regularly. According to a study by HID Global, the global market for healthcare will reach a staggering $11.9 trillion by 2022. Still, this growth comes with numerous challenges attached. It is vital for healthcare managers to find new ways to improve patient outcomes, reduce costs and improve the productivity of healthcare organizations. Overcoming these roadblocks will shape the future of the healthcare sector and turn it into a more sustainable industry.
Derek spearheads key initiatives at Deputy, a global workforce management platform for employee scheduling, timesheets and communication. With a focus on healthcare, Derek helps business owners and workforce leaders simplify employment law compliance, keep labor costs in line and build award-winning workplaces. Derek has over 16 years’ experience in delivering data-driven sales and marketing strategies to SaaS companies like MarketSource and Griswold Home Care.