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5 innovative healthcare trends that are right around the corner
The healthcare industry moves quickly. Research, technology and patient expectations seem to change daily. Providers are turning to data analytics to streamline their practices and increase the quality of care. By integrating data analytics into the following five innovative healthcare trends, providers can use factual data to support new care models.
1. Bundled healthcare
Payment models are expected to shift. Health Affairs Blog predicts that providers will issue a single target fee for a procedure such as a knee replacement or heart surgery. This fee covers all office visits, the surgery and any related procedures and is an alternative to charging per visit. By using data analytics, healthcare providers can determine the procedure's average cost and set the fixed price based on past experience. Once the model is implemented, providers should collect data on the actual costs as well as the patient's outcome to determine if the price should be adjusted or if the care plan should be modified.
2. Telemedicine
Telemedicine is often a cost-efficient addition to bundled healthcare because it can improve the patient's outcome and decrease the provider's overall cost. While the 2014 Foley Telemedicine Survey found that only 6 percent of providers described their telemedicine programs as mature, 70 percent were in the process of developing or implementing telemedicine. Healthcare organizations can use predictive analytics, based on diagnosis and history, to determine which patients have issues that can be successfully resolved with telemedicine. Additionally, they can use analytics on office visit data to proactively offer telemedicine services to those who may not need an appointment.
3. mHealth
The Healthcare Information and Management Systems Society defines mHealth as the generation, aggregation and dissemination of health information via mobile and wireless devices. The FDA lists examples such as National Institutes of Health's LactMed application and the Radiation Emergency Medical Management application. The former informs nursing mothers about medicine's effects on breast milk, while the latter helps care providers diagnose and treat radiation injuries. Some providers, such as insulin control centers or weight loss portals, can use analytics on information collected from these apps to inform what additional tests, diagnoses or recommended lifestyle changes may be beneficial.
4. Care coordination for high-cost patients
Reducing costs is a primary focus for many hospitals. One trend that can help is video consulting. According to Parks Associates, doctor-patient video consultations are expected to grow from 5.7 million in 2014 to over 16 million in 2015. More than 130 million video consultations will occur per year by 2018, the company predicts. Care providers can use analytics to create a profile of symptoms easily treatable through video. Then, they can increase video calls with afflicted patients. Healthcare organizations can also use data analytics to determine the most-costly patients in their practice, and compare the treatment plans of less-costly patients with similar diagnoses to devise a care plan. Additionally, it is essential to continuously track outcomes, apply predictive analytics and offer preventative care. These keep patients from becoming high-cost.
5. Do-it-yourself (DIY) healthcare
The DIY trend is moving into healthcare, especially with medical kits and devices. Going forward, providers must identify opportunities to replace office visits with DIY kits, educate patients and effectively analyze the resulting data. Providers can increase adoption of DIY healthcare by profiling patients who can benefit from selected applications, devices and kits. Electronic health records can help flag appropriate candidates.
These five innovative healthcare trends are game-changers in the industry. It is essential to use data to track patient outcomes and take these innovations to the next level. Innovation is only one piece of the puzzle. Healthcare practices that successfully integrate data with innovative trends will see the highest return on investment through increased quality of care and revenue.
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