ALPHARETTA, GA / ACCESSWIRE / December 9, 2024 / As the new year approaches, Savista, a leading healthcare revenue cycle management services company, reflects on the state of the healthcare industry today and shares predictions for the future of healthcare in 2025 and beyond.
The healthcare industry has undergone dynamic shifts in recent years-with 2024 experiencing labor shortages, pressured margins, a shift toward outsourcing, increased investment in AI and site-of-care shifts. Looking ahead, Laxmi Patel, chief strategy officer of Savista, believes the healthcare industry will see the following trends in the near future:
Technology will become a central member of the care team. The intersection of the current workforce crisis and rapid advancements in technologies creates an opportunity for organizations to strategically invest in technologies that align with broader strategic goals like top-of-license care and worker retention. Leaders should begin to plan for how workers' roles, training and compensation may shift over time with increased technology adoption.
Investment in managed RCM services will increase. Investment in managed RCM services has become an increasingly attractive option for RCM managers grappling with persistent workforce challenges and navigating the intricate landscape of payer policies. Outsourcing has emerged as a strategic solution to address staffing shortages and limited resources.
Consumer-centric healthcare models will become the norm. Patients will increasingly demand consumer-centric healthcare experiences, with more transparency in pricing, personalized health plans and convenient access to services. Wearable technology and mobile health apps will empower patients to take control of their health data and decisions.
Ecosystems of care will play a bigger role in local care delivery. With the emergence of ecosystems of care, the risk of patient disintermediation is high and traditional front doors to care will change. Leaders must reassess what role they want to play in their market, identify key services and patient segments where they have a competitive edge, and determine how to partner or compete effectively in those areas.
The uninsured population will continue to rise. 2023 marked the end of the public health emergency (PHE) and the unwinding of continuous Medicaid coverage for approximately 20 million individuals. This trend is expected to continue.
"The healthcare industry is at a pivotal moment," said Patel. "2025 is likely to see several trends reshape the industry, including the growth of ecosystem players and the rise of consumer-centric healthcare models. These shifts will require healthcare providers to adapt and plan strategically in order to thrive in the new year."
About Savista
Savista is a full-service revenue cycle services company partnering with hospitals, systems, and physician practices for more than 30 years. They solve revenue cycle challenges through comprehensive services spanning eligibility and enrollment, coding, cancer registry, self- pay and bad debt, accounts receivable management and more. They tout one of the most highly trained workforces in the industry with more than 20 accreditations, including Epic-certified trainers, and have received the prestigious Peer Reviewed designation by the Healthcare Financial Management Association. Their global organization delivers quality, custom solutions to more than 770 clients across 49 states. To learn more about Savista, visit SavistaRCM.com or follow @savistarcm on LinkedIn.
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SOURCE: Savista
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