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Top 5 Challenges for Healthcare Executives in 2018
Adaptive Medical Partners | Healthcare Administrators
Though every healthcare system experiences its own unique set of challenges, common obstacles and issues appear across the industry. In surveys of healthcare executives and in analyses by healthcare industry experts, several concerns emerged that are likely to affect hospitals, group practices, and other healthcare systems through the coming year. At the top of many lists are challenges related to value-based care, regulatory compliance, data analytics, patient engagement, and the workforce.
Challenge #1: Continued Transition to Value-Based Reimbursement
Most healthcare systems and practices struggle with implementation of value-based care models. Several factors contribute to this challenge:
- The American healthcare fee-for-service system is not aligned to provide value-based care, and the majority of business remains fee-for-service.
- Delivering value-based care requires significant investments in time and money since value-based care demands a different infrastructure and workflows.
- Significant amounts of data and insights are required for effective value-based pay models, and that data either is lacking or delayed for most hospitals, providers and other parties.
- Healthcare providers must figure out how to implement the new models while still operating under existing fee structures.
Challenge #2: Compliance With Shifting, Uncertain and Expanding Government Requirements and Mandates
Attempts at healthcare reform, including challenges to the Affordable Care Act and its programs, will continue into 2018, making for an uncertain environment with added compliance challenges and unanswerable questions about possible impacts. Healthcare executives must help their organizations navigate the shifting health policy landscape, paying attention to both federal and state-level government mandates and changes to relevant regulations. You’re advised to strengthen compliance programs and advocacy efforts, especially at the state level.
Challenge #3: Leveraging Big Data to Improve Quality of Care and Reduce Costs
Healthcare organizations grapple with the daunting task of finding meaning in big data, applying clinical and data analytics to manage the health of segmented populations and to drive decisions. Hospital leaders are expected to boost the use of electronic health records and then identify ways to use that extracted data to improve the quality of care provided.
Challenge #4: Emphasis on the Patient Experience
Revamping the patient experience is a priority for many administrators. Evidence demonstrates that increased patient engagement and satisfaction levels contribute to better health outcomes. An improved patient experience as a consumer of healthcare also contributes to the bottom line, as patients increasingly shop around for services and as more insurers offer financial incentives to providers with better patient engagement. Examples of steps healthcare systems are taking toward improved patient experiences include patient portals, health, and wellness education, and digital communication tools.
Challenge #5: Addressing Workforce Issues of Shortages, Burnout and Turnover
An aging population and provider retirement contribute to continued predictions of a looming shortage of healthcare professionals. High incidences of burnout, as well as elevated turnover rates, add additional strains to the workforce.
- Current trends project a shortage of between 40,800 and 109,000 physicians by 2030.
- Forty-nine percent of physicians report always or usually experiencing feelings of burnout.
- Between 2014 and 2022, 1.2 million vacancies for registered nurses will open.
Adaptive Medical Partners can help you address some of the workforce challenges facing your facility. As a premium recruitment agency, Adaptive Medical Partners works to find the best fit for physicians and other healthcare staff.