Traditional standalone hospitals that once stood as the flagship entity of healthcare are no longer the answer to contemporary urgent needs. Hospital is dead!
Hospitals are under enormous financial pressure. Very recent McKinsey survey opens the pandora’s box of shrinking operating margins for hospitals resulting in financial stress that does not seem to be ending in 2021 or any time soon.
Pandemic has exposed the old fault lines, and has made them untenable. The hospitals are expensive, disregard outcomes, and are not patient centered and can no longer continue. Also, the patient demographic is changing, they are getting older, with more complex needs with various comorbidities; they have new needs that must be met in new ways.
Challenges Hospitals are Facing
Contemporary healthcare providers around the world are facing several urgent imperatives:
Pandemic’s Impact:
More and more number of patients are surviving heart attacks, strokes and other ailments require significant post-discharge care. The trend is the same across the globe.
The change is an imperative, if present hospitals want to survive and excel in the new era of healthcare.
5 way Impact of Digital on Care Delivery
10 Most Significant Forces Shaping The new Era of Healthcare
Irrespective of country, these forces are playing a major role in healthcare transformation.
To sustain, survive and eventually thrive, hospitals of every shape and size must reimagine their function and value they deliver.
Here is How Hospitals can Respond
The best strategy depends upon the healthcare provider, local market conditions such as regulations, cultural benefits, funding, competitive conditions etc.
New offerings
Patient Expectations – Today, patients want more information, and greater involvement in decision making and expect newest treatment and best amenities.
“Patients are increasingly acting as consumers as a result of easier access to information and technology and rise of new ‘retail’ models of care that prioritize patient experience.
To quote a few examples – dialysis centers offering free wifi and TV during long sessions.
Rise of Care Delivered in Community Setting
Better primary preventive care for patients with chronic conditions reduces complication rates and need for hospital care. Early surgical discharges can be made with better patient satisfaction and with more capabilities in outpatient settings.
Within ten years, in the USA, there is a possibility of 28% of those operations moving to outpatient settings in ten years.
The Future
The future will be divergent from today, with a lot of innovation ushered in by technology. Hospitals in their quest for productivity, efficiency and agility will radically reimagine themselves.
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