Hanson & Co wants to keep our client aware of the major events that continue to share the healthcare industry.
In 2015, there were significant changes that resulted in several changes. To helps clients, prospects and others understand these changes and how wit will impact them, we have provided a brief summary of key issues below.
2015 Healthcare Headlines
- Healthcare costs continue to increase: PwC forecasts an overall healthcare increase of 6.8% which is more than three times the growth in GDP. The spending is driven by a major rise in drug costs and expanded access to the healthcare system.
- Continued consolidation: Nearly 100 hospital mergers were announced in 2015 and medical practices are aligning with large hospital systems. According to the Physicians Foundation, only 35% of physicians describe themselves as independent practice owners down from 62% in 2008.
- Obamacare opponents suffer another blow: In what was seen by many as the final chapter in the anti-Obamacare fight, the Supreme Court decision to uphold state tax subsidies mandated in the Affordable Care Act put to rest any idea of wholesale reversal of the law.
- Expanded access via new models: Retail clinics, onsite/near-site employer sponsored clinics and telemedicine initiatives are expanding at a rapid pace to address the increasing issue of patient access given a critical shortage of primary care physicians.
- Growth in Transparency Initiatives: With more than 46% of employees on high deductible plans, consumers and providers are seeking greater transparency on cost and quality. Numerous initiatives have been launched to better arm healthcare consumers with information to make smarter healthcare decisions.
- Increased focus on price/outcome tradeoffs: Insurers and healthcare systems have taken steps to control escalating drug costs by limiting access to higher priced specialty drugs and procedures. Major industry groups are creating tools to guide cost/outcome tradeoff decisions.
- Healthcare in the palm of your hand: Smartphones, connected medical accessories and apps are being increasingly used to monitor patient vital statistics, and encourage healthy behaviors.
It’s clear that industry is undergoing significant changes. To stay ahead of new rules and regulation’s, whole maintaining practice profitability, it’s essential to work with an industry firm. For additional information lease call us at (303) 388-1010, or click here to contact us. We look forward to speaking with you soon.