After 3 years of radical change in healthcare, providers find themselves facing fresh challenges and exciting opportunities in 2023. From advances in accessible healthcare to heightened patient expectations, these five trends are poised to make an impact in the coming year.
1. Inflation Pressures Providers
Amid rising costs, reimbursement rates remain stable — and providers are feeling the pinch. Rising labor and non-labor costs are set to eat into profits in 2023, and leading providers will look for ways to improve productivity to maximize revenue.
Compared to last year, non-labor healthcare costs are projected to double in 2023 due to inflation, from $38B to $77B.
2. Remote Hybrid Care Continues to Grow
Providers will continue to expand their reach in the next normal of healthcare. Providers embracing telehealth will look for easier ways to do business — such as deploying integrated platforms — and look to remote patient monitoring (RPM) solutions for ongoing care.
3. Patient Experience Takes Center Stage
A rising demand for tailored customer service has rippled across multiple industries, including healthcare. Leaders will deliver a personalized and convenient patient experience, including online booking and multi-channel communications (e.g., text messaging, email, phone).
4. Retail Health Clinics Offer Convenience But With Limitations
The search for convenience drives patients toward retail health clinics — at least, for minor health needs. Providers should focus on patient education so that patients can gauge when a traditional clinic is needed or when a retail clinic might be more appropriate.
5. Patient as Payer Impacts Cash Management
As patients shoulder more financial responsibility for their care, providers must explore ways to help patients pay their medical bills. Consider options like transparent pricing, payment plans, eStatements and online payment solutions to help collect what you’re owed.
78% of providers say they can't collect a $1,000+ patient balance in 30 days.
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