Healthcare and Revenue Cycle Trends for 2023 and Beyond - I-conic Solutions

Healthcare and Revenue Cycle Trends for 2023 and Beyond

1. Human longevity will create new opportunities.

  1. Our efforts to prolong human life have an annual economic impact of $38 trillion. 
  2. This will increase the focus on improving clinical resource utilization, encourage innovation in healthcare delivery, and boost demand for home healthcare services globally.

2. The future of healthcare is in the home.

  1. The home care industry is still expanding, as we can see. The future of healthcare lies in the home, with up to 30% of the US population, or an estimated 75 million people, falling into the Baby Boomer category. 
  2. A multi-year labour shortage for clinical and nursing labour has been caused by the need for Home and Community-based Services (HCBS), a major portion of the population which needs nursing and companionship care.

3. Telehealth – Rising adoption; $250 B Opportunity.

Innovation is sparked by difficult circumstances, and COVID-19 did the same for the adoption of telehealth. It became a $250 billion opportunity because of three interacting factors:

  1. Greater patient interest in using telehealth
  2. Lockdowns that encouraged the use of telehealth technologies by providers
  3. The Public Healthcare Emergency forced CMS to modify to permit telehealth reimbursements.

Numerous options are available in both virtual and real-world case models thanks to telehealth and remote patient monitoring technology. In the future, these will be at the core of the majority of healthcare delivery plans.

4. Quest for Operational Efficiency to accelerate outsourcing, technology adoption, and supply chain transformation

The majority of hospitals and healthcare systems reported negative margins in 2022, making it the worst fiscal year in decades. Healthcare executives will try to accomplish more with fewer resources as operation efficiency takes Centre stage. We notice more people using:

  1. Offshoring and revenue cycle outsourcing techniques
  2. AI-based solutions and automation.
  3. Clinical and semi-clinical tasks that are outsourced

Solutions for supply chain optimization’s.

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