Health care is an ever evolving industry that changes and develops at an incredibly fast pace. With the long awaited Affordable Care Act soon to be enforced, it is more than obvious that a shift in the health industry is likely to occur in 2014. But Obamacare is not the only thing that will impact the health industry. Following, we would like to present you with a list we have compiled of the top 6 health industry trends in 2014, based on the annual report issued by PricewaterhouseCoopers. Analysts at PwC evaluated and identified the main issues in the US health system and came up with a series of predictions, which are briefly outlined below.
Curious to learn more about the top health industry trends in 2014? Let’s take a look at the countdown.
No. 6: Employers will consider private exchanges for employees
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As the Affordable Care Act drives the uninsured to seek adequate health coverage, PwC believes that companies will turn to private exchanges, a method commonly employed for retirees. However, it is predicted that insurance exchanges will be also used in the case of active employees and that employers will let their staff choose their coverage from a range of plans.
No. 5: States will be responsible for containing Medicaid costs
Despite recent scandals involving Medicaid, states are not in a position to drop their collaboration with the agency, as this would leave countless patients without appropriate care. Instead, PwC predicts that by the end of 2014, more than half of the states will focus on managed long term care programs.
No. 4: Drug makers will have to make several adjustments
Given the enactment of the Drug Quality and Security Act, drug makers will be required to make a number of changes in 2014. For one, they will be mandated to track prescribed drugs in larger bundles, so as to prevent counterfeit pharmaceuticals. In addition, as medicine continues to focus on specialty rather than general products, drug makers will also have to come up with alternative clinical trial models.
No. 3: Health workforce will have to become technologically savvy
As technology and digital tools continue to evolve and play a bigger role in the health care system, the need to train staff so as to be able to handle them will become evident. Health care workers will have to not only be experts in medicine, but also be able to use technology so as to engage with patients.
No. 2: Price transparency will grow
As the demand for transparency continues to increase, in part due to the new health insurance plans, health care organization will make price transparency a priority. Companies will start giving a lot more attention to such issues when negotiating with health providers.
No. 1: Technology and media will play an increasingly more important role in health care business models
As mobile apps and social media become ubiquitous, health organizations will transform the way in which they interact, both amongst themselves and with patient. Cloud and analytics tools will play an increasingly more important role and health care companies will construct new business models around them.
