The Top 5 Healthcare Challenges Facing Service Providers

Top 5 Healthcare Challenges Facing Service Providers

The healthcare scene in different parts of the world is somewhat different. On one hand, there are advanced medical devices, competent medical experts, and well-equipped hospitals and clinics; on the other hand, there is the rising cost of medical care and an aging population struggling to fit into the future’s complexity.

In the thick of it all, there are people whose dreams and difficulties are entirely dependent on how well healthcare firms tackle healthcare challenges and eliminate disparities to provide better medical care.

But, first and foremost, we must recognize the numerous obstacles that the healthcare business faces. Our list of the top ten obstacles that healthcare providers confront will aid us in this endeavor. The following is a list of today’s healthcare challenges:

Harnessing Advanced Health Technology

The dynamics of both hardware and software are shifting in today’s tech ecosystem. According to a survey from the UK Center for Health Solutions, IoT connects 48 percent of medical devices, with that number predicted to climb to 68 percent in the next five years. According to MarketsandMarkets, the connected medical device industry is predicted to triple in size between 2017 and 2022.

Advanced technologies such as AI and machine learning are now being employed in hospital software applications such as Appointment Management systems, Patient Administration systems, and Laboratory Information Management systems.

Information and Integrated Health Services

Connected medical devices and AI-integrated software applications can offer healthcare firms a large amount of data that they can use to generate knowledge.

Administrative data, patient medical records, connected device data, transcript & clinical notes, and patient questionnaires are all examples of data kinds. However, most healthcare providers, even the most prestigious, lack advanced architecture and data management systems to manage data gathered from a variety of sources.

To support integrated health systems, healthcare businesses must design all models for all management layers, operational, tactical, and strategic, and work with a dependable integrator with a mature service management process.

Healthcare Staffing Shortages

Many business groups project that by 2030, there will be a shortfall of 100,000 doctors. Here, technology can aid in a variety of ways, such as through the usage of telehealth. Even in remote areas, live streaming, store, and forward imaging, and remote patient diagnostics can increase access to healthcare.

According to the Bureau of Labor Statistics Employment Projections 2016-2026, an additional 203,700 new RNs will be needed each year from 2016 through 2026 to cover newly created positions and replace retiring nurses. Regular professional development and infrastructural improvements, on the other hand, are the keys to alleviating healthcare workforce shortages.

Payment Processing and Invoicing

According to the KF health tracking poll, while the majority of participants said they could afford their treatment, one out of every four people said they couldn’t.

Healthcare firms, insurers, and philanthropists working together can help to reduce the rising cost of healthcare and so help to solve one of the industry’s major problems.

This approach results in the creation of efficient medical billing processes and procedures, in which financial incentives are linked to patient outcomes rather than service volume. Dr. Gawande’s concern about unneeded medical testing may be addressed by the new payment model.

Investment in IT healthcare

A study published in Health Affairs, US healthcare systems may rely on more “frugal innovations,” or “good enough” solutions that are both fiscally feasible and technically superior.

According to a report published by Science Direct, investing in IT healthcare, such as revenue cycle management software, has been shown to lower operating costs. “The use of financial management systems is connected with decreased hospital operational expenses,” writes the author.

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