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Just as advancements in medical technologies are constantly changing the way physicians treat patients, the business side of healthcare also changes with new developments. From potential changes to laws and regulations to innovative management models, look out for these healthcare trends in 2020.
1. A Focus on Accountable Care Organizations Over Hospital Systems
Depending on who you ask, a shift to value-based care and accountable care organizations (ACOs) is either a great improvement to the current system or a waste of effort. However, the prevailing wisdom seems to be that more organizations are moving toward these systems. As the focus shifts from the fee-for-service model, requirements for documentation and billing may change. This is a good reason to have an expert third-party service by your side to stay on top of things.
2. Tech Will Continue to Have a Big Role in Healthcare
Advances in technology will continue to make a big impact on how hospital systems, provider groups, and individual practices do business. As new systems are developed to deal with the changing landscape of healthcare, tech solutions will be needed for providers to stay current without drowning in managing the business side of their practice. This will also help providers spend more time focusing on patients.
3. Telehealth Will Have a Bigger Scope
As a result of advanced technology, e-services like telehealth will become a bigger part of the healthcare picture. More people are becoming comfortable using digital communication for things beyond personal use. Telehealth services allow a multitude of providers to provide care remotely to patients who may not be able to make it for an in-person appointment. This includes those in rural areas and those with limited mobility due to recent surgery or another health condition.
4. More Big Retailers Will Enter the Local Game
Many pharmacies throughout the country already have small clinics suitable for things like vaccinations, basic exams, and simple testing. However, in the coming years, more retailers are going to attempt to enter the healthcare market and provide local care. The goal is for the companies to be able to improve access to care for communities while reallocating the physical space and workforce that has been rendered obsolete by online retailers. There may be benefits and success, but many companies will enter the playing field with little to no knowledge of how to successfully participate in the field. Therefore, some ventures may be short-lived.
5. Ethical, Transparent Companies Will Get Ahead
In the digital age, having electronic health records (EHRs) is practically a requirement for healthcare providers. With any kind of digital record, privacy and security are key, but this is especially true when it comes to medical and personal information. That’s why one of the healthcare trends is the prioritization of transparency and ethics. Companies that make their policies on security and data use clear will become prized over those who have questionable policies.
6. Innovations Will Always Transform Care Delivery
No matter what year it is, this is one of the most consistent healthcare trends. People will always try and improve upon existing care delivery methods. Keeping innovation at the heart of an organization will yield positive results. Not only will innovative culture help with business processes, but it may make things easier for physicians and patients.
7. Outsourcing Documentation will Be Beneficial
Fast Chart offers innovation, transparency, and value to our partners with top-notch outsourced clinical documentation and technology solutions. We recognize the importance of privacy when it comes to medical records and documentation, so you can rest assured that our cloud-based system is secure and reliable. We also know how important accuracy is in clinical documentation, which is why we’re proud to have an accuracy rate of over 98.5%. We work with care organizations, individual practices, and hospitals. If you’re ready to experience the benefits of outsourcing your documentation, call Fast Chart at (919) 477-5152 or request a free quote.