The hospital care industry is by far the most significant in the world. Not only is it responsible for our well-being, but it is also a home base for medical and technological breakthroughs that continue to enhance our lives. Given how fast the industry has grown in just the past decade, it’s not a far stretch to say that it will one day lead to full cures for issues such as cancer, heart disease, and other notable problems that take a toll on people today. With the industry closing in on the year, 2020 is setting up to be a productive year after what was a groundbreaking 2019. That said, what’s interesting about the incoming year is how the industry has managed to still produce small but significant successes despite ongoing changes.
With constant policy reforms and pharmaceutical device challenges slowing down hospital care progresses, it’s no wonder the industry has proven to be one of the most stressful and demanding industries to work in. On that note, much appreciation should be given to all medical professionals before anything else. Having said that, medical professionals are in for similar if not more of a demanding work environment in 2020. It will require having to balance heavy workloads while meeting every need a patient has. With this in mind, let’s take a look at the top ten hospital care trends both professionals and patients can expect for 2020. This will then lead us to discuss 5 must-know statistics about the industry and their impact on its future.
10 Hospital Care Trends For 2020
#1: Changes In Industry Policies
Changes in industry policies have been a trend since the establishment of hospital care. The benefit of this is that most of these changes are for the betterment of the patients that need them the most. However, the downside to them is that they happen more often than the industry can keep up with. For example, once a hospital gets accustomed to new industry policies, a new one hits forcing them to make changes. Needless to say, changes in policies are one guarantee trend to expect in 2020.
#2: Outdated Industry Tools
Another positive to a new year for the hospital care industry is that there will be many new tools to use. Thanks to both medical care and technological advancements, the new year will be a sign of outdated industry tools. Worth noting, this is not necessarily a bad thing. All this means is that there will be a faster production of new tools within the first few months of the new year.
#3: Increased Processing Speeds
Speaking of faster production for the new year, another trend that is expected to hit the hospital care industry is increased processing speeds. This is mainly in regards to how hospital caregivers manage and organize their processes. This includes an overall faster pace of change within the industry.
#4: Ongoing Hospital Care Investments
What many people may not know about the hospital care industry is that the majority of it is funded by investments. This includes both public-funded and private investments. As for how these investments will loom like for the new year, they can expect to show no signs of slowing down. In reality, the way these investments are trending is sure to create new business models and ventures within the industry.
#5: A Move Towards Home-Based Care
Perhaps the most interesting trend that the hospital care industry is moving towards is home-based care. Yet again, this move is a result of both technological and medical advancements that are benefiting patients. A great example of this can be seen in colonoscopy procedures. In 2019, the industry made strides to create home-based testing for a colonoscopy that is more convenient and reliable than traditional testing. Worth noting, this is just one small sample of what the industry is trending towards. It will be exciting to see what other creations come in 2020.
#6: Stable Drug Prices
The biggest talking point that clients have about the hospital care industry is it’s extremely high drug prices. However, what they may not understand is that pharmaceutical companies are somewhat forced to create them due to the relationship between consumer demand and production value. Also, the prices tend to fluctuate in and out of consumer price ranges. This is why it may come as a surprise to many to see that 2020 is trending towards having relatively stable drug prices compared to other years.
#7: Increased Focused On Mental Health Care
Throughout the past decade, hospital care has had to battle various medical issues. However, none of these issues have had as big of an impact as mental health issues towards the end of the decade. With many of today’s social problems that are affecting people as early as their childhood, the hospital care industry is making a push to an increased focus on mental health care. The hope is that mental health care is taken more seriously than it currently is.
#8: Enhanced Hospital Care Data Security
As the hospital care industry continues to rely more on technological advancements for their processes, there will also be a need to enhance hospital care platform security. Perhaps the most important of these platforms is with medical and patient data. Given a large amount of personal data that hospitals have to manage daily, losing it can not only result in unrecoverable financial costs but also unimaginable patient losses as well.
#9: Stable Production For Hospital Care Device Makers
Another overlooked aspect of the hospital care industry is the device makers that keep it running. They are responsible for making the tools that help with simple client check-ups and more serious procedures like surgeries. Nonetheless, 2020 is looking like it will provide a stable production for them. This is a result of the industry finally playing some catch up to the advancements in technology and their tools.
#10: More Pharmaceutical & Medical Breakthroughs
As a whole, every year has trended towards more pharmaceutical and medical breakthroughs the following year. As big as 2019 was, expect bigger and better breakthroughs that continue to save lives in 2019.
5 Hospital Care Statistics You Must Know
#1: Less Than 25% Of Americans Are Covered By Medicare
Believe it or not, hospital care insurance in the United States is less than 25% of the population. In other words, the majority of people today are walking around with no protection in the event of an emergency.
#2: The Industry Is Worth Over $3.5 Trillion
Considering that the entire hospital care industry was worth billions in the 1960s, the fact that it is now worth over $3.5 trillion is a sign of how fast it’s growing. What’s amazing is that industry trends are showing no signs of slowing down.
#3: There Will Be Nearly 50,000 Unfilled Positions By 2030
A major downside to the fast advancements in the hospital care industry is that it is leaving many unfilled positions. Projections are showing that there will be nearly 50,000 unfilled positions by the next decade. It will be interesting to see how both the medical education system and the industry itself prepared to lower this number in the following years.
#4: There Are 2.6 Doctors Per 1000 Patients In The U.S.
Another must-know statistic that shows how massive the industry can be seen with their being only 2.6 doctors per 1000 patients in the U.S. With the entire population of the country taken into account, it’s no wonder why there will be so many unfilled positions just a decade from now.
#5: Over 100 million people already have Home-Based AI Diagnosis
Having mentioned the move towards home-based care, what many people may not know is that many already have an AI diagnosis tool in their home. With over 100 million people having a voice-controlled assistant at home, industry and technological advancements aren’t too far away from allowing it to make a common medical diagnosis such as a cold. If we include the number of people who have a mobile phone with an assistant as well, the total number of people who can benefit from future home-based diagnosis is staggering.
Thanks for reading "Trends That Will Transform The Hospital Care Outlook in 2020", by the Linchpin Team in Chicago, Raleigh, and Wake Forest.