“Change is the only Constant,” said the Greek Philosopher Heraclitus. And yes, irrespective of the election results the healthcare industry will change tremendously in the next few years.
However, a few things will remain the same in 2017 and beyond:
- Aging Population By 2030, one in five Americans will be eligible for Medicare, driving greater demand for health insurance and medical services. Healthcare payers will have to continue to seamlessly enroll members and ensure high satisfaction with their products and services.
- Savvy Members and Providers Members will continue to expect transparency whether in price, quality, access to providers, or time taken to provide services. Providers will continue to expect quick resolution of claims, timely reimbursements, and a reduction in the administrative burden. So, Healthcare payers will have to invest in technology and processes that streamline customer service, provider networks, and member appeals and grievances.
- Wellness The Wellness industry is growing at a rapid pace and is expected to become a multi-trillion industry in the next decade. Payers and Providers are increasingly providing technology-based wellness solutions to address both chronic and acute conditions. Measuring the effectiveness of these rapidly iterating technologies will require intelligent technology-driven business processes.
- Cyber security Security breaches are costly for healthcare organizations, both in dollars and in publicity. The recent cyberattacks on large payers and hospitals have ensured that significant budgets and efforts will continue to be expended towards securing Patient Health Information
That’s our list. What do you think will change or stay constant for healthcare Payers and Providers in 2017?