The American Healthcare system has grown more convoluted and difficult to navigate since reforms that began in the late 1990s. Legislators have increased regulation and third-party players, while allowing private companies to make enormous profits at the expense of Americans struggling to pay for their own care. This has yielded a wide range of problems – Bloomberg reveals our system today wastes money and misses the importance of prevention. To remedy these issues, many things need to change, including new laws and consumer participation, but some companies are taking matters into their own hands. Three American business giants, Amazon, JPMorgan Chase, and Berkshire Hathaway are forming a coalition that will take a stab at simplifying care. They’re not the only ones: other tech companies including Apple are venturing into the health sector as well, with the same goal of streamlining. While details on the Amazon deal are sparse, the move still gives the new conglomerate huge power from the start, and will certainly have implications for doctors and patients alike. Here are five ways the health sector may change due to this trend.
Patient engagement is an essential part of providing safe and effective quality patient care. Patients that are more actively involved in managing their healthcare have better outcomes and incur lower costs. Increased patient loyalty and retention, improved employee satisfaction, reduced medical malpractice risk, and better financial performance, are all dependent on patient engagement.
Establishing and maintaining a strong online presence can be essential to a medical practice’s success. A recent survey of 1,438 patients revealed that 82 percent evaluated online physician reviews, and 72 percent used them as a first step to finding a doctor. Proving that a healthy online reputation is not only good for visibility but rather it can be crucial for first impressions and increasing a patient population.
On November 2, 2017, the Centers for Medicare & Medicaid Services (CMS) delivered its final rule on the Quality Payment Program year two, starting January 1st, 2018. The rule did not vary much from the proposed regulation released in June.
Standardization is a commonly misunderstood term in the healthcare industry. It has been defined as the process by which healthcare products and services are chosen by a committee of key stakeholders, considering evidence-based results, to ensure quality patient care while adhering to fiscal responsibility. However, standardization can mean different things to different people.
There is no denying that healthcare is an industry of exceptional standardization. Standardized protocols, standardized practices, and standardized procedures are all necessary components to ensuring efficient, high-quality care. Standardization is an essential part of delivering effective, safe, affordable care including consistent outcomes, reduced waste, improved efficiency, reduced costs, and improved patient safety.
As the healthcare industry transitions from volume to value-based care and as patients become more engaged in their health, understanding what drives patient decision-making is increasingly a strategic imperative. Although the importance of patient satisfaction has received a lot of recognition, the reality is that many know very little about the aspects of care that matter most to patients. So, what do patients really want in their healthcare? Five-star services, hotel-like hospital rooms, valet, and gourmet meals? Not quite, the answer may actually surprise you.
Medication nonadherence is responsible for an estimated 125,000 deaths annually and $100-$300 billion per year in the United States. It is an epidemic associated with poor health outcomes, increased hospitalization rates, and higher healthcare costs. Medication nonadherence has long been a concern to clinicians and healthcare systems worldwide. Still, nearly 50% of patient prescriptions are taken incorrectly or not at all.
Patient engagement is an essential part of providing safe and effective quality patient care. Research has demonstrated that patients who are more actively involved in managing their healthcare have better outcomes and incur lower costs. Additionally, patient engagement has been linked to increased patient loyalty and retention, improved employee satisfaction, reduced medical malpractice risk, and better financial performance.
Medical errors such as delays in diagnosis, preventable surgical complications, and medication overdoses are now the third leading cause of death in the United States. Consequently, reducing preventable adverse events and improving quality and safety in patient care is at the forefront of every healthcare organization.