Global scenario of Healthcare IndustryDecember 27, 2019 2019-12-27 11:29
Global scenario of Healthcare Industry
Global scenario of Healthcare Industry
The exponential increase in scale and pace of emerging digitalhealthcare innovations and technologies can help improve patient experience, quality and accuracy of diagnosis, prevention and treatment of diseases.Investment in digitization has risen to allow highly trained workforce to focus on patient-facing activities, better usage of data and support research for morevaluable and personalized healthcare.
Global health demands
Current global healthcare sector explores demands, trends and issues impacting healthcare providers, private and government organisations, patients and other stakeholders. Growing and aging population, exponential advances in innovation and rising prevalence of chronic diseases focuses on costly digital technologies, healthcare demands and expenditures. Healthcare sector in collaboration with all stakeholders needs to attain financial sustainability, patient centricity, delivery of quality services, digital transformation and regulatory compliance in healthcare ecosystem and industries for a sustainable smart health community.
Healthcare providers, government agencies and companies or organizations are struggling to manage operational, clinical and financial challenges; develop delivery models aided by digital technologies; solve health problems; provide sustainable foundation in accessible, affordable, high-quality healthcare. Redefining financial performance in healthcare ecosystem is possible with increased use of exponential technologies, emergenceof personalized medicine, entry ofdisruptive and non-traditional competitors, expansion ofcare delivery sites, revamped payment and public funding models. The healthcare market continues to explore health technology through acquisitions, mergers and partnerships for alternativerevenue sources of vertical integration.
Trends in Healthcare Industry
Developing public-private partnerships, investing in prevention and recognising social health determinants is the key to have greater and beneficial impact on health outcomes. Healthcare providers are stressing on developing efficient operational performance, rigorous financial management, outcomes-based care and innovative solutions for reduced costs and aligned cost structure, improved care provision, counter declining margins and healthcare models with better reimbursement and payment trends. Clinical innovations, patient preferences, payment policies and government programs are prompting hospitals to shift to alternative healthcare and virtual environments for better cost effectiveness and accessibility. Digital technologies enable convenience-driven access to care, improve engagement and nurture a long term relationship.
Stakeholders across the healthcare ecosystem collaborate around strategies approaches, funding and sustainable delivery of healthcare by investing on technological advances of virtual health, artificial intelligence and telehealthcare services to bend the cost curve, provide personalized healthcare and gain better traction. Coordinated, customized, convenient and accessible healthcare solutions are expected to avoid dissatisfaction with poor service and lack of transparency in quality, safety and cost. Non-traditional consumer, retail and technology based companies have forayed with solutions in healthcare chain that disrupt the existing norm and value health. Organizations have developed patient and consumer engagement strategies with wearable monitoring and fitness devices, telehealth services, social media, online resources and other technologies well-positioned for patients to make informed healthcare decisions.
Concerns in shortage of appropriately skilled healthcare staff and interoperability issues or risks associated with disparate systems and processes, connected devicesand pilot models needs to be addressed to facilitate system-wide adoptionof digital innovation. The need for evolving government policies, regulatoryoversight and risk management haveamplified to protect health data, clinical innovations, connected medical devices and market complexity. Government policies and regulations strengthen healthcare securityand safety while healthcare organizations focus on compliance, crisis management capabilities and drive awareness programs for stronger and better cyber-diligence.
Online Course at JLI
James Lind Institute (JLI) provides online program – Advanced PG Diploma in Healthcare & Hospital Management. JLI also conducts programs in global health, public health, tropical medicine, maternal and child health, clinical research and allied specialties.
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