In the last decade alone, the healthcare industry has faced drastic changes — with advancements in technology, new regulations in place, a global pandemic, aging populations, and other unprecedented factors, providers have had to adapt quickly. And this year, the healthcare sector will continue to adapt and morph.

At Benchmark Solutions, we partner with hundreds of medical practices across the United States. This article breaks down the changes we see on the horizon and how healthcare professionals should prepare for those changes.

Digital Health Innovations: Transforming Patient Engagement

Health systems and health plans are utilizing technology to revolutionize patient engagement, improve the quality of care, and become more efficient in addressing the increasing demand for services.

Telehealth

Telehealth, sometimes called telemedicine, uses electronic communication technologies to provide medical care remotely in cases where the patient and healthcare provider are not in the same physical location. Even though telemedicine has been utilized for over fifty years, it’s become increasingly popular, especially following the COVID-19 pandemic.

Telehealth offers several advantages to patients by improving access to medical services, driving patient engagement, and even lowering healthcare costs, all while overcoming geographical barriers. On the other hand, providers also reap benefits. Telehealth allows providers to see more patients in less time, offers a highly efficient revenue stream, and often expands their reach to see a more diverse patient base.

However, like all technological advancements, telehealth also presents challenges, and in 2024, medical practices are anticipated to make vast improvements in their digital care. Here are just a few things we’re forecasting in the telehealth space:

• Providers not currently offering telehealth will explore ways to make that possibility a reality.
• Providers will continue refining what types of appointments can occur virtually and which must be conducted in person.
• Providers will improve their billing processes to net the most revenue possible.
• Providers will become more efficient in scheduling appointments and lean more on self-scheduling when possible.
• Providers will audit their tech stack, including their current telehealth vendor(s).

Patient Portals

The rise of patient portals represents another milestone in digital health innovation. In 2022, over 70% of patients were offered the ability to use a patient portal — and that number is only expected to continue to grow. Patient portals grant patients:

• Round-the-clock access to their personal health data
• The ability to arrange appointments
• Secure messaging with healthcare providers
• Online prescription management
• And more

The widespread adoption of these portals is catalyzing a transformation in patient care, underscoring the integral role of digital tools in molding the future of healthcare.

Artificial Intelligence: Revolutionizing Clinical Decision-Making

Artificial intelligence (AI) is another game-changer in healthcare, radically altering clinical decision-making and enhancing patient outcomes. The application of AI in healthcare ranges from diagnostic tools to natural language processing and generative AI, each demonstrating the potential to improve patient care. That said, the use of AI by providers is highly controversial, and in 2024, we anticipate experts will continue to evaluate how providers can use this tech ethically.

Diagnostic Tools

AI-powered diagnostic tools enhance the accuracy and efficiency of early disease detection, thereby reshaping the healthcare landscape. Platforms like Merative, Twill, and Viz.ai leverage AI for real-time medical data management and analysis, improving doctors’ capacity to access patient records and diagnose conditions efficiently.

AI diagnostic tools can potentially minimize the need for invasive procedures, but they must be used with care. AI is becoming more widely accepted, and though these advancements are promising, the tech is still relatively new. Regarding patient health outcomes, providers who use AI must do so responsibly.

Natural Language Processing

Natural language processing (NLP) and machine learning in healthcare further attests to the transformative potential of AI. By analyzing clinical notes and summarizing medical research, NLP streamlines the processing and comprehension of extensive medical documentation, ultimately improving patient care.

NLP algorithms can be used in healthcare to:

• Establish associations between various entities, like symptoms and diagnoses
• Distill valuable insights from unstructured data such as follow-up appointments, vitals, and medical images
• Document encounters accurately and quickly
• Enhance patient outcomes

By harnessing the power of NLP, healthcare providers can leverage these benefits. However, patient data must be treated with respect. If natural language processing could benefit your day-to-day workflow, ensure you use a compliant solution.

Staffing Shortages: Tackling Burnout Among Healthcare Providers

Staffing shortages and provider burnout are some of the most widespread issues across the healthcare industry. Healthcare organizations are turning to technology and outsourced services to manage workloads and reduce burnout. Leveraging technology and outsourced services cuts overhead, offers better balance, and allows healthcare providers to focus on what they do best: caring for patients.

Leveraging Technology

Technology is key to managing workload and reducing burnout among healthcare providers. At its core, technology exists to make our lives easier. Earlier in this article, we described myriad solutions that providers can use to streamline operations and take back their time. And when you use the right combination of technology, you can make your practice a well-oiled machine and improve efficiency.

Outsourcing Services

Outsourcing services, particularly revenue cycle management and medical billing, can alleviate administrative burdens and allow providers to focus on patient care. Whether you completely offload those tasks or use outsourced services to supplement your existing staff, you can drastically improve your bottom line and save time. A company that focuses on RCM exclusively, like Benchmark RCM, can help you manage all aspects of your finances — from coding to billing to invoicing and beyond.

Learn More about Physician Burnout

Healthcare Costs: Shifting to Value-Based Care

Patients and providers alike are concerned by the rising costs of healthcare. Patients are less likely to consult a physician to get the support they need if they think they can’t afford care. And physicians struggle to provide excellent care when compensation is a concern. That’s where value-based care comes into play.

Value-based care models continue revolutionizing healthcare by shifting the focus from volume to value. Unlike traditional fee-for-service models that reimburse healthcare providers based on the amount of services provided, value-based care emphasizes the quality and outcomes of patient care. With VBC models, healthcare providers are incentivized to prioritize preventive measures, manage chronic conditions effectively, and coordinate care across different specialties. With value-based care, providers can focus on the health of their patients while controlling healthcare costs.

Privacy: Safeguarding Patient Data

Privacy issues, especially in the healthcare industry, have become a pressing concern in an increasingly online era. Healthcare organizations collect and store massive amounts of sensitive patient data, and they must implement measures to safeguard this data and ensure its confidentiality.

HIPAA Compliance and More

Healthcare organizations must continue to adhere to HIPAA regulations to protect patient data — and these regulations apply when using new technology like AI. These regulations establish fundamental guidelines for safeguarding sensitive patient information and ensuring the security and confidentiality of this data.

In addition to HIPAA compliance, healthcare organizations must implement additional measures to protect patient data. By diligently encrypting data, safely sharing information, and securely storing medical records, healthcare organizations can ensure the security and confidentiality of patient data, fostering trust and confidence among their patients.