Looking ahead to 2020, it’s clear that healthcare will continue to be disrupted by changes in the market, many of which will have a direct impact on the life sciences industry and their customers.
Here’s a few of these trends, along with a clip of discussions about their implications for business acumen training.
Value-based care is here to stay, even if the transition away from fee-for-service has been somewhat slower than expected. Today, slightly more than half of all payments made to providers are tied to clinical or financial performance according to the Catalyst for Payment Reform.
In recent months, we’ve seen a number of drug pricing bills emerge from Congress. Legislative efforts to curb drug prices will likely continue in 2020, especially as the election heats up. For now, the ACA remains the law of the land, but its fate is uncertain and could once again be in the hands of the Supreme Court.
Consumerism is about making the delivery of health services more responsive and convenient—two words that aren’t often associated with healthcare. This trend is why your traditional customers, namely physician groups and hospitals, are seeing more competition from telemedicine apps or retail clinics, like those in CVS and Walmart.
For several years now, healthcare providers have engaged in population health management through a variety of different models, such as patient-centered medical homes and ACOs, as well as through less structured strategies.
Just like every other industry, healthcare is being transformed, and in some cases disrupted, by technology and innovation. In 2020, we’re going to hear more about how digital health, artificial intelligence, machine learning, regenerative medicine, telemedicine, and other innovations are changing healthcare.
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