Deloitte launched a report final week predicting the important thing traits that can form the healthcare panorama in 2024. For its report, the consulting agency surveyed 60 well being system and well being plan executives who work at corporations with an annual income of greater than $500 million.
The report forecasted that 5 essential traits may have the most important influence on healthcare organizations’ enterprise methods subsequent 12 months: M&A, generative AI, workforce challenges, outsourcing and affordability.
M&A
Almost 9 in each 10 surveyed well being system executives mentioned they consider M&A may have an awesome or average influence on their 2024 technique. Well being plan executives have been much less involved with M&A — only one third mentioned that it could have an effect on their technique for subsequent 12 months.
This 12 months noticed numerous hospital M&A exercise, together with the bulletins of the Kaiser Permanente-Geisinger merger and the Froedtert Well being-ThedaCare merger. The report predicted that this development of consolidation will proceed in 2024 — well being techniques are searching for M&A offers to spice up operational effectivity, enhance cost-effectiveness and strengthen their skill to supply complete and built-in providers in an more and more aggressive panorama.
Generative AI
Within the 12 months since OpenAI launched its viral chatbot ChatGPT, generative AI has already made an enormous splash within the healthcare world. Hospitals are utilizing the know-how to foretell in-hospital mortality, size of keep and claims denials, the report identified. The report additionally highlighted that customers are turning to generative AI to reply questions on the right way to deal with themselves and navigate the healthcare system.
As an increasing number of well being techniques consolidate, management should be sure that all hospitals below one model share the identical caliber of superior know-how, the report mentioned. Having disparate techniques may cause bottlenecks, and new generative AI instruments are poised to make healthcare processes extra environment friendly and seamless between totally different services, the report famous.
Workforce challenges
Almost 60% of well being system executives surveyed by Deloitte mentioned labor shortages will have an effect on their group’s technique in 2024. Well being plan leaders have been much less nervous about workforce points, with simply 37% saying these would influence their 2024 roadmap.
Well being techniques leaders mentioned they may proceed to give attention to their staff’ psychological well being and well-being subsequent 12 months by providing higher worker profit packages and soliciting extra employees suggestions.
Outsourcing
Monetary challenges — stemming from growing labor prices, a better incidence of payer denials and excessive rates of interest — are nonetheless placing stress on hospitals. To alleviate this, some well being techniques are outsourcing capabilities comparable to income cycle, billing, claims, finance, human sources, scientific administration and provide chain, the report identified.
Hospitals ought to establish their strengths and discover alternatives to outsource duties that may be executed extra cost-efficiently, the report really helpful.
Affordability
In 2024, customers might face increased out-of-pocket prices resulting from medical inflation and growing protection bills, in line with the report. Half of well being plan executives mentioned that affordability issues would be the largest concern impacting their technique for subsequent 12 months.
Healthcare leaders can affect shopper well being selections, in addition to doubtlessly increase loyalty and market share, by providing digital instruments that assist sufferers navigate their healthcare journey, the report famous.
Photograph: Getty Photos, AndreyPopov