What are the biggest concerns in healthcare going into 2023? No surprises coming out of our recent LinkedIn survey – it’s rising costs, followed in short order by staffing shortages!
Here’s our findings of the top concerns going into the New Year:
- 52% of respondents selected rising costs
- 34% of respondents selected staffing shortages
- 7% of respondents selected regulatory changes
- 7% of respondents selected cybersecurity
It’s no secret that inflation has resulted in increased healthcare costs. In fact, a recent McKinsey study estimates that the annual U.S. national health expenditure is likely to be $370 billion higher by the year 2027 due to inflation and the continued impacts of the pandemic. As a result, many top executives in the healthcare industry anticipate a significant narrowing of their operating margins. Both payers and providers have reported an anticipated margin loss of between 25% and 75%.
There are ways to mitigate these costs—and our solutions can help.
NantHealth’s Eviti Connect solution helps lower costs by directing payers and providers to high-quality, evidence-based solutions for oncological care and autoimmune diseases. As healthcare costs continue to rise, payers, providers and patients cannot afford to spend time on ineffective and inappropriate treatment plans. The Eviti solution helps determine the best possible treatment options, getting patients high-value care at a lower cost.
To further help payers mitigate rising costs, Eviti Connect’s formulary redirection capability helps redirect providers to more affordable biosimilars and generics of the same quality. This redirection results in providers delivering the same level of care at a lower cost, optimizing the care journey for payers, providers and patients.
It should come as no surprise that there is a connection between rising costs in the healthcare industry and staffing shortages. A significant factor in the rise in the cost of medical care is the ongoing and increasing lack of clinical workers. McKinsey expects clinical labor cost growth to reach 6% to 10% over the next two years.
In addition to mitigating rising costs in healthcare, NantHealth’s suite of solutions addresses workflow issues that can ease staffing shortages. NaviNet Open improves communication and streamlines collaboration between payers and providers: expediting approval processes, optimizing patient outcomes, preventing congestion and backlog in receiving patient data, and averting delays in care, all while easing workforce pressures and challenges due to staffing shortages.
As we enter 2023, it is more important than ever to leverage proven technology solutions that can help us navigate healthcare in the post-pandemic world.