12 megatrends shaping healthcare
This week 2,500 healthcare leaders, partners and colleagues convened at Allscripts Client Experience (ACE), our annual user group meeting, in Chicago. The energy, ideas and passion for transforming healthcare was inspiring.
On Wednesday morning, Thomas F. Zenty, III, chief executive officer of University Hospitals (Cleveland, Ohio, U.S.A.), delivered an insightful keynote address. He named the 12 megatrends shaping healthcare today:
1. Quality and patient safety – Safe patient care always has been, and always will be, the top priority for healthcare organizations.
2. Value-based payments – The industry is moving away from fee-for-service arrangements and toward financial models that are based on quality, such as MACRA’s Quality Payment Program or bundled payments.
3. Optimize system integration – Especially for large integrated delivery networks, disparate technology platforms must be working together to achieve the best performance possible.
4. Optimize care integration – More care is happening outside the hospital, and there must be coordination across all care settings – from prenatal to hospice and everything in between.
5. Assumption of risk – Zenty anticipates more health systems will work with insurance companies to manage risk – instead of creating their own plans as some have done in the past.
6. Population health – University Hospitals, which manages care for 320,000 people, understands that many of these trends require care that is tailored to each patient population.
7. Consumerism – Zenty highlighted the shift from patient to consumer as the biggest change in healthcare in more than 200 years.
8. Alternative revenue source creation – Health systems will become more vertically integrated. For example, University Hospitals manages its own specialty pharmacy services, instead of paying a third-party pharmacy benefit manager.
9. Revenue cycle – Health systems must receive accurate payment and receive every dollar for everything they do. They will also need to be more effective at point-of-service collections.
10. Downward revenue pressure – As payers and the government seek to drive costs out of healthcare, they will apply increasing pressure on healthcare organizations.
11. Capital constraints – Zenty said that one out of three hospitals is losing money on operational costs, and it’s more important than ever to invest wisely and do terrific business planning.
12. Leveraging information technologies – All of the innovation and activity in health IT – such as telehealth or interoperability – will help healthcare organizations make the most of their technology investments.
The final megatrend is the most relevant to the purpose and design of ACE. Clinicians, developers, executives and policy experts are all working together to advance our mission: to build Open, connected communities of health.
Thanks to Tom Zenty and all of our incredible speakers – including several presenters from University Hospitals. With all the great conversations that happened in Chicago this week, I look forward to watching how they develop into ideas and initiatives that will truly transform healthcare.