Chronic diseases place a financial strain on patients and health systems. When combined with emotional and physical difficulties, high costs can make it even more difficult to manage these conditions.
In the wake of ACA reforms and HITECH incentives, digital health innovations have rapidly expanded. These innovations are much-needed in order for health systems to keep pace with value-based measurements and EHR requirements.
However, many healthcare organizations have implemented disparate IT solutions, leading to unintended fragmentation and frustration for clinicians. This often results in providers spending more time ironing out details with vendors and less time with actual patients.
The enactment of the Affordable Care Act in 2010 has turned health care on its head. Even though the ACA didn’t cause immediate consolidation of hospital systems, over the last five years the legislation has expedited integration within health care.
In fact, around 71 percent of health care leaders indicate that in the next three years they expect to experience some form of M&A in their organization. And while much debate circulates around the cost benefit of consolidation for patients, in most cases these health care mergers lower expenses within both of the organizations involved.
Never before in the history of U.S. health care has there been so much competition for market share. In the past, traditional delivery was widely focused on particular geographic areas. This limited patient’s options to the providers nearest to them.
Now, however, patients have access to online telehealth and other wellness resources. Online retailers, who are new to the health care industry, are capitalizing on this consumer trend. We’re all aware that disruption and innovation has the potential to improve service delivery and patient care. However, the reality is that these new kids on the block are threatening the market share of established health systems.
Health care has come a long way over the past 10 years. Legacy systems have been replaced with tech-forward EHR solutions, big data analytics, and interoperability. Today, a majority of health providers share patient data and notify primary care clinicians of complications.
Integrated delivery systems (IDNs) are uniquely situated to deeply understand and serve patients within their particular geographic region. However, their payment model in addition to other factors, threatens the long-term growth of these organizations.
Everyone involved in the funding and delivery of healthcare is well aware of the impact social determinants have on outcomes for individuals and populations. Whether they be publicly funded or insurance based health systems, the challenge in addressing these remains the same.
Over 75% of the population is uneasy about the rising cost of health care and the economic damage it may cause.
A large percentage of the U.S. budget is directed to health care accounting for 20% of GDP. Clinics and health systems are managing greater patient needs while dealing with expenses that are multiplying faster than ever before. Clinicians need scalable ways to empower patients with chronic conditions to take active roles in their care.
As an advisor to a company working in the field of digital health, it was with some uncertainty that I attended my first meeting on Precision Medicine ( Personalized or Individualized Medicine) back in 2013. The focus then was on the significant advances that have occurred in the field of genomics and how these might change the way we practice medicine such as the promise of prevention and early detection of cancers and being able to tailor the treatment to the individual, based on the genetic makeup or knowing which drug to use to treat chronic conditions such as hypertension and diabetes.
Discussions on scalable health care often center around a key question, “Which resources aren’t being used to their full potential?”