The only certainty in the healthcare business over the next decade will be more and more rapid change. Doctors on the front line of care will not be exempt from healthcare business evolution. In fact, physicians will play an increasingly vital role in this ever-dynamic industry. Here are some of the business changes doctors are likely to experience over the next 10 years.
You might be longing for the simpler times of fee-for-service medicine, but value-based care is here to stay, and it’s likely to become more entrenched in the decade to come. According to a recent Healthcare Financial Management report, physicians can expect to experience the value-based care transition in three arenas: consumer choice, consolidation, and innovation. On the consumer choice front, physicians and their employers will have to prove their value to consumers by supplying meaningful data about their patient outcomes. Consolidation, in the forms of mergers and acquisitions among organizations that employ doctors, is likely to continue so that these organizations can better negotiate with payers. Private practice, it seems, is likely to become even less prominent. Finally, HFM says that the data-driven nature of healthcare, as well as the increasingly consumer-focused nature of healthcare, will mean more technology in medical practice.
Value-based care requires a ton of data. With data collection at scale comes the risk of a security breach. According to a recent Deloitte report, physicians likely can expect increased pressure from their employers to keep their PHI safe. Each internet-connected device in clinical practice is a potential access point for cyber criminals. Organizations that employ doctors will be under increased regulatory pressure to keep those devices and their data safe, Deloitte says. It’s safe to assume that doctors can expect increased cyber security training in the decade to come so that they are better prepared to manage risk at the front line of care.