From healthcare-retail partnerships to the introduction of apps, wearables and data-driven AI applications, disruption and innovation are now central to healthcare. The current cost structure of most healthcare organizations is too high and not sustainable in the long run given declining reimbursement and increasing competition. It’s all too common for organizations to become lost in their data rather than learning from it. And, if data is hacked or stolen, there is the potential that individuals may require notice of the incident. With continued reforms to Medicare and the Affordable Care Act (ACA) – whatever form those may take in the future – we expect to see a continuation of payer/provider partnerships. The shift from fee-for-service reimbursement to value-based payment models will continue in 2020, including the trend for healthcare providers and third-party vendors operating in the healthcare space to assume some of the financial risk along with the health insurer. Healthcare leaders are now finding themselves facing increasing pressure to regain control over their expenses without compromising the well-being of patients. For example, the recently enacted California Consumer Privacy Act requires businesses to inform consumers about the personal information they collect and how it will be used; consumers’ personal information cannot be used for any purpose that wasn’t disclosed at collection, Cook Rush says. As healthcare consultants, we’re seeing some recurring themes that we anticipate will carry over into 2020. 7. In addition, HHS recently released proposed changes to the antikickback statute and Stark Law. We’re very excited to share the biggest recruitment challenges HR professionals will face in 2020 as well as the expert insights and practical tips for solving them. Data & Analytics . Key NHS Challenges. One of the biggest challenges in the pharmaceutical industry now is to shift from a sales and marketing-based model to an access driven commercial model. “In 2020, we will see the price transparency mandate continue to play out and likely encounter more uncertainties,” says Tara Bradley, chief operating officer, Vitalware, a mid-cycle revenue software as a service solutions provider, in Yakima, Washington. Incident response plans should be reviewed and tested routinely. Employees are getting more comfortable working with electronic information (which sometimes makes them more relaxed and susceptible to oversights). 5. Consumer Experience . Although ransomware, data breaches, and other cybersecurity concerns are nothing new to the healthcare industry, the 2020 Covid-19 pandemic revealed just how vulnerable sensitive patient health information really is. As healthcare organizations seek to maximize budgets and improve efficiencies they will continue to employ process improvement disciplines to reduce variation and drive out waste. Monitoring data’s security is also key. With the Covid-19 pandemic encouraging minimal in-person human interaction, consumer adoption of... 3. But this pandemic has exposed a new challenge for healthcare workers; hospitals and medical offices running out of PPE. In this article, we’ll discuss the top three challenges—from the ten identified by HCEG for 2020—along with ways to … Planned for development by participants at our 2020 Annual Forum, the 2021 HCEG Top 10 list of challenges, issues, and opportunities facing healthcare executives guides our content and programming throughout the … But what are the key challenges and solutions of 2020, and what will the future of healthcare look like? The Biggest Challenges in Healthcare includes Managing Limited Budgets, Managing Regulation / Legal Requirements, Managing Increased Patient Expectations and Managing Competition. This has become an even greater challenge facing leaders at all levels across the health and care sector. Efforts to repeal the Affordable Care Act seem unlikely in the near term. A review of state laws and regulations should be conducted when structuring the relationship. In May 2018, the Trump administration issued a strategy blueprint, “American Patients First,” designed to tackle U.S. drug pricing and healthcare costs. 6. According to Bell, a few of the key components related to reducing drug pricing are: While many components have not yet been addressed, areas such as providing avenues to bring more generics to market have. In order to achieve this by 2030, we must address the urgent health challenges currently plaguing the world. In a 2014, , up to 40 percent of respondents under the age of 45. found that 54 percent of healthcare consumers want to interact more with providers through apps on their smart phones. Rates of suicidal ideation are highest among youth in 2020, but especially among young LGBTQ+ people. Interoperability/consumer data access. © 2021 MJH Life Sciences™ and Managed Healthcare Executive. Bradley’s advice for dealing with the uncertainty of CMS’ mandates is to always stay one step ahead. “They update their rules with great regularity, so it’s important for healthcare organizations to stay current with the latest regulatory developments,” he says. Delivery system transformation. 3. So let’s get started! As a new decade begins, healthcare executives will continue to grapple with challenges of the past as well as new issues that emerge. Here is the full 2020 Top 10 list: 1. COVID-19 is currently dominating every news cycle—and with good reason. All rights reserved. It was no surprise, particularly with 2020 being a presidential election year, that dealing with an ever-changing landscape of government regulations topped the list. We asked healthcare leaders to cite their top challenges, as well as coping strategies. Employers have traditionally shifted higher costs to employees. There will be a critical need for alignment and coordination across the continuum. The survey also revealed that more than four in five respondents younger than 35 said they embraced care via virtual marketplaces, and 46 percent of healthcare consumers want as much data about their health as possible. In fact, to keep up with Primary Care literature, a GP would need to read for 21 hours every day . What are some lessons to be learned from retail in how they’ve adapted to consumer demands? “We have also seen significant moves toward bringing more transparency to consumers, through removal of gag orders on pharmacists not to mention lower cost drugs and requirements that drug ads disclose the cost of the drug being advertised,” Azar said. According to Kaiser Family Foundation research, the annual cost of a family health insurance plan has now surpassed $20,000. 7 Major Challenges Facing the Healthcare Industry in 2021 1. The sudden shift in work culture took a toll on overall employee health and wellbeing. Telehealth. Live longer and the population continues to grow and head into a new decade,! Healthcare consultants, we ’ re seeing some recurring biggest challenges facing healthcare 2020 that we anticipate will carry into... Of complexity to running a business took a toll on overall employee health and care system in industry! 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