Majority of hospitals and providers moving towards transparency in price
2014 is poised to be a great year for the healthcare industry. Not only is the Affordable Care Act getting fleshed out but there are numerous upcoming trends facing the healthcare industry. In 2014, hospitals and care health institutes will witness a shift that is more retail-focused. Price transparency and cost savings will become the biggest focus areas, reveals the latest PwC Health Research Institute’s Top Health Industry Issues for 2014.
Kelly Barnes, PwC’s U.S. health industries leader commented on the release of the report, “While health insurance exchange implementation is driving headlines today–in reality the next 12 months will be marked by how well the industry addresses a range of core business challenges.” Barnes adds, “Businesses must address rapid innovation and competition from non-traditional players, but above all they must respond to empowered consumers as customer-centric transformation sweeps healthcare.” [twitter.com/HealthITplus] Continue reading →
According to Becker’s Hospital Review, hospitals have increasingly been reducing costs to combat Medicare cuts and healthcare reform. [twitter.com/HealthITplus]
The trend of hospital outsourcing is on the rise but experts believe this trend will not persist in the long-run. Adam Higman, Vice President, at Soyring Consulting comments, “The driver is the cuts in reimbursement. [Hospitals] know they have to be more efficient and have to save money. That’s helping drive [outsourcing] decisions.”
Hospitals have been assessing options in outsourcing their various functions such as IT and clinical services. The article: Healthcare IT Outsourcing Demands Are On The Rise, states that the healthcare IT outsourcing segment is witnessing continued growth and is forecasted to grow at a compound annual growth rate of 7.6 percent, to reach $50.4 billion by 2018 from $35 billion in 2013. Continue reading →
FDA Releases Its Regulation Plans On Mobile Health Apps
Mobile health developers have been waiting for more than two years to get some clarity on how and what the US Food and Drug Administration (FDA) plans to regulate regarding mHealth apps. FDA has finally released its final guidelines after more than two years of issuing its draft guidance. Read moreContinue reading →
More than 60 percent hospitals are prepared to take on Meaningful Use Stage 2, according to new HIMSS Analytics [twitter.com/HealthITplus]
A new report released on Sept 18 from HIMSS Analytics, Hospital Readiness to Meet Meaningful Use Stage 2, reveals that over 60 percent of eligible hospitals have acquired the requirements for meaningful use stage 2. The report assesses the preparedness of eligible hospitals and their electronic health records that are used to store all patient information.
The highlights of the report include:
At least 60 percent of hospitals in the sample have met the requirements for at least nine of the core metrics that define Stage 2 meaningful use; and
Some 70 percent of respondents across all metrics are actively moving toward meeting Stage 2 meaningful use requirements.
With rapid increase in the overall healthcare industry, the healthcare IT outsourcing segment is also witnessing continued growth and is forecasted to grow at a compound annual growth rate of 7.6 percent, to reach $50.4 billion by 2018 from $35 billion in 2013. The results were published through a new market research conducted by RnR.
The main segments driving the healthcare IT outsourcing market are health insurance, healthcare systems, and pharmaceuticals. According to the report, the outsourcing market model is enabling these segments to focus on core business, reduce operational and maintenance costs, increase access to IT skilled and quickly implement new technologies and train staff. Continue reading →
When it comes to delivering patient care through mobile technology and internet enabled services, hospitals and U.S. physicians are still in the digital dark ages. This lag between technology and healthcare providers is costing U.S. hospitals an estimated $8.3 billion annual hit in lost productivity and increased patient discharge times, according to a Ponemon Institute survey of 577 health care professionals.
The major concerns hospitals are facing is to stronghold patient privacy. Due to the mainstreaming of social media, patient health information security concerns are peaking and federal rules impose steep fines for violating patient privacy. Continue reading →