The average American spent $10,739 on healthcare in the year 2017. This national healthcare expenditure will continue to increase over the next ten years. The trend will be evident, as the American population grows sicker.
With the onset of technology in the sector, Americans are bound to receive better healthcare outcomes. The positive shift is despite the high cost of healthcare.
Innovation has had a significant impact on healthcare. In fact, most of the trends that will shape the healthcare sector will depend on advancements in tech.
Are you wondering which healthcare trends will shape the sector in the next ten years? Here are trends in the healthcare sector every stakeholder should have in mind.
1. Consumerization in Healthcare
Consumerization will become a leading trend this year. Modern consumers now expect healthcare delivery to be technological—driven towards change. This shift in healthcare delivery will also contribute to the patient’s role as a more central player in the process of healthcare delivery.
The classic patient will have greater control given the extent of empowerment evident in the provision of modern care. Consumerization in healthcare will mark the introduction of the contemporary patent as part of the care team. In the future, patients will arrive for their appointment schedules better equipped with information on the possible diagnoses, symptoms, and treatments due to available information online.
Further, with the rise in the number of at-home genetic testing, more patients are better equipped with information before meeting with a physical doctor. The predictive patient will shape how the move towards consumerization takes form over the next ten years. As such, with digital health, the consumers of health will grow two-fold in 2020 and beyond.
However, part of the challenge with consumerization in healthcare is the accuracy of information. While patients no longer have to queue up to get a diagnosis, there’s always the risk of accessing misleading information. Consumers of this information might need to pay extra attention to the correctness of this information.
2. Big Data and Information Security
One of the leading trends in medical care currently relates to the growth of big healthcare data.
The sector is experiencing an upsurge of trends in the collection, analysis, and analysis of patient data. As opposed to the past, the classic patient provides much more personal information during triage.
The modern healthcare provider has access to vast personal data meant to support the continuous process of healthcare delivery while ensuring a patient’s well-being. This data has contributed to the improvement of healthcare services while lowering the actual cost.
Shareholders in the sector also argue that big data will make the process of predicting epidemics in the industry tenable. However, one primary concern with big healthcare data will be the risk of a breach of personal information.
There were more than 1.4 billion recorded data breaches in the year 2018. This should be a horrifying statistic for any healthcare provider who is moving towards big data. For this reason, the tension between data accessibility and data security will continue to manifest in 2020.
3. Intersection Between Healthcare and Technology
The healthcare sector is broadening its scope as technology and innovation take root. Voice-assisted technology is among the innovative trends that signify the intersection between technology and healthcare.
The documentation and reception process during medical visits is now easier with voice-assisted trends. Healthcare providers can now connect more with patients.
The other benefit of tech in healthcare is the introduction of telemedicine. The modern patient will have the liberty of remote patient monitoring.
This trend will further expand access to healthcare on top of making medical care more affordable. This intersection between technology and medical care will also be evident in other areas. The areas include research and development in the sector.
4. The Rise of Precision Medicine
The year 2020 will witness the death of the “one size fits many” care models. With this approach, the process of healthcare delivery will experience an end to the guesswork, variable diagnosis.
The approach used generalized demographics when managing treatment. Most of the misdiagnosis was a result of this predictive approach. Modern health care will witness the use of data leveraged from direct or indirect sources to help shape precision medicine’s growth.
Did you know that the value of the Precision Medicine market will hit a whopping $84 billion in the year 2026? Consequently, the medical market trends will witness a shift in the way practitioners handle issues. Such changes include medical decisions, treatments, and practices.
Are you wondering what healthcare trends to look out for in 2020? The use of personalized medicine based on precision testing will be a crucial trend. You can learn more about these revolutionary changes through up-to-date medical market reports here.
5. Healthcare Reforms
Laws determine the direction of the healthcare sector. The year 2020 is an election year in the USA. As such, there will be numerous reforms to the current healthcare system.
Some of the changes that might shape the sector include the review of the “Medicare for All.” You might also witness a review to the “Enhanced AC” proposal.
The healthcare review proposals will touch on managed care. Every stakeholder and player in the sector should have sufficient information to help them plan accordingly in line with some of these proposed changes.
Most of these proposed reforms will focus on healthcare affordability. It would help to conduct scenario planning. This is in readiness for the introduction of any reforms.
You Need to Stay Abreast With These Healthcare Trends
The healthcare industry is evolving at a rapid speed. Modern patients will be in greater control when it comes to medical care. This especially so with the intersection between healthcare and technology.
The modern provider will benefit from innovations such as voice-assisted technology. However, as the consumerization takes root, data breaches will also increase. These five healthcare trends confirm the anticipated shift in the sector.
Are you wondering what healthcare trends will shape the sector going forward? You can read more about medical market reports and stay informed about various issues in the sector.
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