5 healthcare trends to watch for in the coming years
Five years since the passage of the Patient Protection and Affordable Care Act (ACA), and healthcare leaders have adapted to a changing industry.
There are more transformations to come, according to a new report from the PwC Health Research Institute.
“Not since the Telecommunications Act of 1996, has a piece of legislation sparked such significant changes in a leading sector of the economy,” the authors wrote.
The authors identified five trends that will continue to shape the industry.
- Risk shift – The ACA has introduced new payment models such as pay-for-performance, bundled payments and shared savings that shift risk from insurers to patients, providers and pharmaceutical companies. The changes have led to increased transparency and a focus on value rather than volume.
- Primary care – The ACA includes more than $31 billion in funding to primary care initiatives, including community health centers, Medicare, Medicaid and rural doctors. Primary care physicians are also crucial to the success of accountable care organizations and other team-based models.
- New entrants – Since 2010, more than 90 healthcare companies have been created, while large companies such as Apple and Samsung have recognized the opportunities the ACA creates for them to expand their businesses. The authors said there would continue to be a focus on technology, retail clinics and data analytics.
- Health insurance – Millions of people have signed up for coverage on public exchanges, while private exchanges are becoming more popular. Insurers are also working more closely with consumers.
- States – States are playing a major role in determining whether they expand Medicaid and how they design the exchanges and choose whether they partner with the federal government.
The authors suggested that industry leaders focus on savings and quality of care and affordability, identify what they do best, consider partnerships, enhance consumer choices and work closely with states.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.