All Medical Billing

8 Emerging Healthcare Trends to Look Out for in 2023

A storm can break the silence, and its impact cannot be forgotten easily. Similarly, 2022 was more like a storm for the healthcare industry. COVID’s effects are now fading, but healthcare is yet to recover. Financially 2022 dragged the providers down. In addition, the rising healthcare needs, medical supplies, and equipment are the biggest concern.

Careful planning is essential for improving revenue cycle management. Given the shortage in healthcare personnel, we must improve the workflow such that minimal tasks yield max results.

Thanks to the effort of different workers in the healthcare industry who want to make patient care delivered without hindrance. Even nature shows the change in weather. Why not healthcare? 2023 is open with innovations for carrying out medical needs.

Let’s look at some healthcare trends and what you can do to catch patients’ attention.

Table of Contents

1. Patient Experience Will Contribute To Practice Progression

2022 didn’t surprise us only with the Russia-Ukraine conflict, something else significant happened too. The No Surprise Act, which was passed, provided a major discussion topic in healthcare. Patients can seek advance notice on their medical expenses and out-of-pocket coverages.

While many patients are happy with this, the expectation of enhancing the experience is also rising among patients. Scheduling, pricing, and multiple payment choices are some aspects of your practice that can be upgraded to improve patient convenience.

Patient experience is best managed with the assistance of an RCM expertise firm. Your job is to pick one of the companies quickly and leave the rest to a trusted hand like Practolytics.

2. Changing Viewpoints Opens The Way For Value-Based Care

Americans want to live a happy and healthy life which is encouraging them to move towards healthier lifestyles. This trend will make a drastic change in the need for healthcare. Value-Based Care is one step closer in prioritizing care and patient health. Henceforth, it has gained popularity.

It works with the motive as no compromise in health value, for volume of patients. People will expect an outcome from their treatment as trends and times change. Adapting to this therapy model today is the safest alternative.

3. Labor Shortage Needs a Solution

The excessive work time and continuous work schedules during the COVID made many physicians and nurses sit tired. Unluckily the situation continues post-COVID also. The basic reason for this is the shortage of labor. What can you expect with this trend is what we have discussed below.

Transition for temporary workers: Nurses are also no exemption to escape from the changing trends. Nursing job requirements made them work day and night during the pandemic. But now many are attracted to work as Gig workers, with the choice of working hours and locations. The increasing trend towards traveling nurses is one example to prove this.

The hunt for talents will grow: In 2022, over 30% of senior staff in the RCM domain planned to change professions. With this mindset prevalent among healthcare workers, we must be prepared for the next big battle, which is the fight for acquiring capable skills for the clinic. HR at healthcare facilities must collaborate with the entire practice team to identify workers without sacrificing financial or flair criteria.

Staffing needs are complicated and should not be ignored, as the shortage of staff can leave your reputation and the real motive of patient care to question marks.

4. Work Hours Convenience Is Prioritized

Remote working is the trend that made every industry thrive in difficult times. While this was not the case for healthcare administrative workers. COVID made them lose their jobs. When we are looking for them again, there is this shortage crisis. Attraction towards Gig working and migration was also the reason. It is essential to address this issue as your healthcare doesn’t only run with patients but also with professionals. With a staffing agency, you can get workers who are willing to shift and who are well-versed in work.

5. Enhancing Your Financial Stability

Great! if these complications didn’t affect your practice. But don’t wait for the storm to hit; being prepared for its effects will make you exceptional. Rising medical expenses and decreased reimbursement are visible everywhere. The time has come to invest in cutting-edge technologies. Know what your peers who are experiencing challenges are doing.

Stop payment loss: To achieve billing standards, we must adhere to the rules. When done so, we can avoid problems like being discharged but not finally billed (DNFB). When healthcare units perform their billing properly, they can earn more than 20% cash than they expected.

Make the most of the available tools: While providers look to improve patient care, they must also focus on optimizing their software applications. The addition of new features in the billing tool might assist you in lowering your workload and AR piles. To get the most out of the established system, you must upgrade your present software and use its tool correctly.

6. Automation For The Rescue

In any industry, technological assistance is nothing new. AI’s helpful hands and automation assistance can revolutionize the game. Automating repetitive tasks in your administrative work is the ideal solution to escape the work burden. It’s the healthcare owner’s choice to optimize their existing workflow or outsource the work necessities to RCM companies.

Virtual assistants and scribes for medical documentation are widely rising. Reaching them can help you to reduce your sitting hours on entering patient history.

7. Make Cyber Security Measures Mandatory

As we switch from paper to PC workflow, there is a rise in security issues. The risk of identity theft and exploitation of personal information is high. This can leave healthcare to be more endangered. With patient care being delivered via online mode and telemedicine taking the upsurge, the chances of personal details being misused are high. Thus this is the hour to invest in security measures. Certification like ISO 27001 offers effective information security management.

8. Empowering Healthcare With Tech Giant Companies

Healthcare units don’t need to hesitate in improving their partnership with other organizations. This is the time where information technology companies in the market are entering healthcare to improve our work. The promising development of cloud-based platforms and increasing support for telehealth devices in the market give us the green signal to move towards them.

Conclusion

Changing healthcare trends are nothing to be concerned about if you are prepared properly for what is to come. These trends have the potential to alter how the following functions in health care operate: The method of treatment, RCM management, and Labor requirements in the industry.

We advise our patients to obtain accident insurance not because we expect them to meet with an accident, but for their protection. The same is true for you; if a crisis arises, assistance is always required.

We will be present at that time. Practolytics provides multifold services and acts as a solution provider. We offer RCM services ranging from healthcare staffing to coding.

Simply notify us at [email protected] to find out how we can assist you.