Top Healthcare Predictions for 2023: Payer, Provider, Rev Cycle, Life Sciences
Experts warn of dire economic influences in the new year but see opportunities for growth amidst those pressures in their healthcare predictions.
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- Payers, providers, and life sciences industry leaders will face a variety of pressures in 2023, particularly financially, and they should be alert to their current condition and to opportunities for improvement amidst those pressures, experts shared with Healthcare Strategies in their healthcare predictions for 2023.
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In the patient engagement space, Natalie Schibell, vice president and research director for healthcare at Forrester Research, shared that hospital bankruptcies will increase drastically due to the economic environment in the US at large and the employment environment in healthcare specifically.
She projected that the federal funding streams that have bankrolled hospitals through economic crises will dry up. Hospitals will have to pay close attention to their financial risk in 2023.
In revenue cycle management, Scott Anders, MD, ACO chief medical officer at Providence Health & Services – Washington, shared that partnership between payers and healthcare organizations would be key in 2023, specifically partnerships in which parties are willing to take on risk. Anders told Healthcare Strategies that payers will be more open to fully capitated risk in 2023 than in previous years.
In the payer space, Peter Long, executive vice president of strategy and health solutions at Blue Shield of California, expressed confidence in the expansion of access to care in 2023.
“If 2020, 2021, 2022 were the years of virtual care because of the global pandemic, 2023 will be the realization of how we take those access points and build a blended healthcare model for our members as health plans,” Long said.
Meanwhile, leaders in the life sciences industry will find CMS and other federal agencies encouraging them to capture patient-reported outcome measures and it will be up to leaders in this industry to discern how best to use that data, according to Melissa Price-McDonald, doctoral student of population health sciences at Thomas Jefferson University.
“We need to start collecting more patient-reported outcome measures so that we can be ready when the time comes that some of these other initiatives that hit the hospital industry, like reimbursement associated with capture of social determinant of health data,” Price-McDonald shared.
