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Learn MoreHealthStream recently published its annual white paper highlighting the top ten trends healthcare leaders can expect in 2023. The paper was authored by Robin Rose, MHA, Thought Leadership Consultant. This blog will focus on two of the ten trends, while the remaining trends are covered in other blogs.
The COVID-19 pandemic has played a significant role in shaping the the trends covered in Rose’s white paper, including the two discussed in this blog post.
Rose’s article on 2023’s top ten trends addressed a broad spectrum of trends – some trends that impact where and how care is provided and coordinated, some impacting technology and others impacting staffing, but there are plenty that address the financial changes that are likely to be coming in 2023.
In July of 2021, the U.S. Centers for Medicare & Medicaid Services (CMS) announced the 2023 Medicare Physician Fee Schedule (PFS). CMS’ proposed rule includes the expiration of the 3% increase in PFS payments in 2022, which along with other cuts, equates to a 4% reduction in reimbursements for physicians in 2023.
The cuts have the potential to have a serious impact on more than just physician paychecks. Industry experts anticipate that cuts could drive as many as 90% of physician office practices to reduce access to care. Further exacerbating the issue is the fact that at least four specialties (cardiology, radiology, hematology and pediatrics) have already seen a drop in pay prior to the implementation of the CMS cuts.
Ambulatory Surgery Centers (ASCs) are the likely beneficiaries of this situation. As the CMS fee cuts roll out some physicians are moving to this setting. ASC leaders are anticipating significant opportunities for growth in cardiology services as more of these providers move to this setting. Other providers seeking to mitigate the impact of these cuts may soon follow suit.
The pandemic may have temporarily slowed the progress of some of the most prominent disruptors in the healthcare industry as it taught them some important lessons about the healthcare, but the emphasis is on the word temporary.
Amazon shelved both Haven, a partnership with JPMorgan and Berkshire Hathaway and its effort to reform healthcare as well as Amazon Care, its national effort to move into telemedicine and primary care for the employer market. The lesson learned seems to be that acquisition may be a more efficient way to make inroads into the industry. Amazon has already acquired One Medical, a membership-based primary care organization that offers both virtual and in-person care for $3.9 billion. In addition, Amazon had also bid on Signify Health, a Medicare-focused company – a bid that appears to have been lost to CVS.
In addition, CVS, Walgreens and Walmart have all made inroads into the healthcare marketplace during the pandemic.
While the healthcare industry is still reeling from the effects of the pandemic, disruptors with deep pockets have remained focused on strategies that will make deep inroads into the healthcare industry.
HealthStream’s learning management system and healthcare training solutions support medical training initiatives and allow for the best patient care.
View All Learning & PerformanceHealthStream offers performance learning management solutions to help develop your healthcare staff into leaders and reduce turnover.
View All ProductsHealthStream works with healthcare organizations to create engaging and high-quality training videos for your staff and management.
View All ProductsImprove care quality and save money by making informed decisions about your healthcare facility and staff with HealthStream's reporting analytics solution.
View All ProductsHealthStream's proven methods for the improvement and overall engagement of your healthcare staff foster a positive workplace and increase retention rates.
View All ProductsWhen you enact HealthStream's quality compliance solutions, you can do so with the confidence your healthcare organization will meet all standards of care.
View All Quality & ComplianceBe confident in your staff’s ability to reduce risk by providing compliance training that changes behavior.
View All ProductsDevelop next-level people for next-level care by prioritizing quality and safety improvements.
View All ProductsEstablish a culture of belonging with education supporting DEI, wellness, engagement, and leadership development.
View All ProductsUtilize patient access solutions and advanced reimbursement solutions to manage clinical denials and improve your organization’s reimbursement strategy.
View All ReimbursementExpand the decision-making skills and effectiveness of your healthcare workforce with HealthStream's clinical development programs and services.
View All Clinical DevelopmentLearn about our advanced resuscitation training solutions. Our solutions are designed to help improve patient outcomes.
View All ProductsOur competency development solutions personalize learning for clinicians to bridge the gap between theory and practice for your nurse residents.
View All ProductsEnhance maternal & child nursing care with solutions focused on improving the quality of care for mothers, infants, and children.
View All ProductsAddress staffing orientation challenges to easily achieve and maintain certification with our emergency and acute care training solutions.
View All ProductsAs a premier provider of healthcare education, we are committed to promoting safer, more successful surgical and sedation outcomes for each and every patient.
View All ProductsOur solutions are designed to cater to the needs of patients, healthcare professionals, and organizations dealing with illnesses or chronic conditions.
View All ProductsMake sure your healthcare staff can schedule out appointments and work schedules with ease using HealthStream's line of software solutions.
View All SchedulingHealthcare workforce management is essential. We provide advanced scheduling solutions for organizations to solve issues such as nurse retention
View All ProductsComprehensive, industry-leading provider onboarding and credentialing software that validate health outcomes and support provider assessment.
View All CredentialingOur affordable CVO credentialing services establish patient safety by enabling primary source verification for your healthcare organization.
View All ProductsIntegrate with Epic to validate and add new providers directly to your provider master file.
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