4 Healthcare Trends for 2021

It is no denying that 2020 was a whirlwind of a year highlighted by the COVID-19 pandemic that disrupted the economy on a global scale and changed our day-to-day routines as individuals. While many sectors and industries were hit, medicine and healthcare are among those uniquely affected due to the nature of the crisis itself.

According to McKinsey & Company, the effects of the pandemic on these industries will continue to be profound. “The shifts in consumer behavior, an acceleration of established trends, and the likely deep and lasting economic impact will potentially affect healthcare companies no less—and quite possibly more—than those in other sectors.

Healthcare shifted due to the pandemic, and providers and companies turned to alternative solutions to provide immediate and accessible healthcare amidst the implementation of lockdowns and safety protocols. In doing so, technology played a big and crucial role. As we enter another year, it is important for healthcare companies to be in the loop with the rising trends in healthcare as a way to improve the quality of care for patients and at the same time, keep the business side of things afloat by adapting innovations relevant to the company.

Here are 4 top healthcare trends to watch out for this 2021:

  1. Telemedicine

While telemedicine, or the practice of delivering clinical services via telecommunications technology, is not new, strict quarantine measures have led more people to stay home and prompted healthcare providers to turn to remote care especially when it comes to minor patient consultations. Not only does this save time and expenses, telemedicine is also accessible anytime and anywhere which makes for a better and more efficient healthcare delivery.

Telemedicine is poised to evolve and modernize even more with the popularity of video conferencing, wearable devices, personal health apps, remote patient monitoring programs, and even robotic healthcare assistants. The global telemedicine market is forecasted to grow at a CAGR of 24% between 2021 and 2026 to reach USD 173 billion by 2026 according to Expert Market Research’s Global Telemedicine Market Report and Forecast 2021-2026.

Moreover, the integration of augmented and virtual reality in telemedicine will open a whole new world for remote care. 

  1. Cloud Computing

Just like telemedicine, physical distancing measures also reinforced the trend of cloud computing in healthcare and is expected to witness over 15% CAGR until 2025 according to a recent study.

For an industry that generates a significant amount of data on a daily basis, one can only imagine how challenging data collection and management is. With cloud computing, however, this has become easier and not to mention, more cost-effective since it is scalable and no longer requires physical servers. Data stored on the cloud also has remote accessibility and promotes better collaboration among team members, which is ideal for current circumstances.

  1. Better Cyber Security

In a study by cloud computing company Iomart, it is found that the number of large-scale breaches rose to 273% during the first quarter of 2020 as compared to the time in 2019. To protect sensitive patient information in the cloud and avoid unexpected costs brought by security breaches, healthcare companies must prioritize the integrity of their anti cyber security software especially now that remote working is still the norm for most employees. 

  1. Artificial Intelligence in Healthcare

While Artificial Intelligence (AI) may sound intimidating and complex at first, it is already integrated in our daily lives through our smart gadgets, chatbots, and more. In terms of healthcare, it is one of the keys in  transforming the way illnesses are diagnosed and treated.

AI makes use of specific algorithms to process large amounts of data and find specific patterns in it. The information can then be used for numerous applications in healthcare including preventive medicine, early detection of diseases, efficient diagnosis, medical decision making, and treatment programs.

How outsourcing helps you keep up  to the trends

Being aware of and adopting rising trends in healthcare is important for healthcare companies to keep up with the dynamic needs of patients. However, integrating all these solutions in your current operations can be tedious and costly. Fortunately, you always have the choice to partner with an outsourcing provider that can help you put your company on the right track.

Outsourcing, first and foremost, reduces administrative costs and increases your revenues while also guaranteeing you of a competent and quality service. Other gains of outsourcing with the right partner are:

  • Operational excellence
  • Build a dedicated team healthcare team (i.e. RCM)
  • Operational savings of up to 70%
  • Access to world-class talent
  • A+ recruitment process
  • Industry experience
  • HIPAA and DPA-20212 compliance
  • Net Promoter Score: Sense of security and peace of mind

Partner with a company with >60 Net Promoter Score

Net Promoter Score helps businesses gauge the quality of the customer service offered by outsourcing companies. Organisations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

Provider Management Services

  • Claims Specialists
  • Medical Coders
  • Medical Billers
  • Enrollment Processors
  • Denial Management Specialist

Patient Support Services

  • Patient Concierge Specialist
  •  Insurance Verification Specialist
  • Collections Specialist
  • A/R Specialist

Health Analytics and Risk Management Services

  • Healthcare Analyst

Others

Let’s work together to build a great healthcare team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

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4 Healthcare Trends for 2021

It is no denying that 2020 was a whirlwind of a year highlighted by the COVID-19 pandemic that disrupted the economy on a global scale and changed our day-to-day routines as individuals. While many sectors and industries were hit, medicine and healthcare are among those uniquely affected due to the nature of the crisis itself.

According to McKinsey & Company, the effects of the pandemic on these industries will continue to be profound. “The shifts in consumer behavior, an acceleration of established trends, and the likely deep and lasting economic impact will potentially affect healthcare companies no less—and quite possibly more—than those in other sectors.

Healthcare shifted due to the pandemic, and providers and companies turned to alternative solutions to provide immediate and accessible healthcare amidst the implementation of lockdowns and safety protocols. In doing so, technology played a big and crucial role. As we enter another year, it is important for healthcare companies to be in the loop with the rising trends in healthcare as a way to improve the quality of care for patients and at the same time, keep the business side of things afloat by adapting innovations relevant to the company.

Here are 4 top healthcare trends to watch out for this 2021:

  1. Telemedicine

While telemedicine, or the practice of delivering clinical services via telecommunications technology, is not new, strict quarantine measures have led more people to stay home and prompted healthcare providers to turn to remote care especially when it comes to minor patient consultations. Not only does this save time and expenses, telemedicine is also accessible anytime and anywhere which makes for a better and more efficient healthcare delivery.

Telemedicine is poised to evolve and modernize even more with the popularity of video conferencing, wearable devices, personal health apps, remote patient monitoring programs, and even robotic healthcare assistants. The global telemedicine market is forecasted to grow at a CAGR of 24% between 2021 and 2026 to reach USD 173 billion by 2026 according to Expert Market Research’s Global Telemedicine Market Report and Forecast 2021-2026.

Moreover, the integration of augmented and virtual reality in telemedicine will open a whole new world for remote care. 

  1. Cloud Computing

Just like telemedicine, physical distancing measures also reinforced the trend of cloud computing in healthcare and is expected to witness over 15% CAGR until 2025 according to a recent study.

For an industry that generates a significant amount of data on a daily basis, one can only imagine how challenging data collection and management is. With cloud computing, however, this has become easier and not to mention, more cost-effective since it is scalable and no longer requires physical servers. Data stored on the cloud also has remote accessibility and promotes better collaboration among team members, which is ideal for current circumstances.

  1. Better Cyber Security

In a study by cloud computing company Iomart, it is found that the number of large-scale breaches rose to 273% during the first quarter of 2020 as compared to the time in 2019. To protect sensitive patient information in the cloud and avoid unexpected costs brought by security breaches, healthcare companies must prioritize the integrity of their anti cyber security software especially now that remote working is still the norm for most employees. 

  1. Artificial Intelligence in Healthcare

While Artificial Intelligence (AI) may sound intimidating and complex at first, it is already integrated in our daily lives through our smart gadgets, chatbots, and more. In terms of healthcare, it is one of the keys in  transforming the way illnesses are diagnosed and treated.

AI makes use of specific algorithms to process large amounts of data and find specific patterns in it. The information can then be used for numerous applications in healthcare including preventive medicine, early detection of diseases, efficient diagnosis, medical decision making, and treatment programs.

How outsourcing helps you keep up  to the trends

Being aware of and adopting rising trends in healthcare is important for healthcare companies to keep up with the dynamic needs of patients. However, integrating all these solutions in your current operations can be tedious and costly. Fortunately, you always have the choice to partner with an outsourcing provider that can help you put your company on the right track.

Outsourcing, first and foremost, reduces administrative costs and increases your revenues while also guaranteeing you of a competent and quality service. Other gains of outsourcing with the right partner are:

  • Operational excellence
  • Build a dedicated team healthcare team (i.e. RCM)
  • Operational savings of up to 70%
  • Access to world-class talent
  • A+ recruitment process
  • Industry experience
  • HIPAA and DPA-20212 compliance
  • Net Promoter Score: Sense of security and peace of mind

Partner with a company with >60 Net Promoter Score

Net Promoter Score helps businesses gauge the quality of the customer service offered by outsourcing companies. Organisations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

Provider Management Services

  • Claims Specialists
  • Medical Coders
  • Medical Billers
  • Enrollment Processors
  • Denial Management Specialist

Patient Support Services

  • Patient Concierge Specialist
  •  Insurance Verification Specialist
  • Collections Specialist
  • A/R Specialist

Health Analytics and Risk Management Services

  • Healthcare Analyst

Others

Let’s work together to build a great healthcare team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

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