This post is taken from an article by Robin L. Rose, MBA VP, Healthcare Resource Group, HealthStream, where she looks ahead at the coming year, with an eye to big picture trends that could have a significant impact on how we provide and experience care.
Nothing in Healthcare Should Be Taken for Granted
The healthcare industry as we have known it is disappearing. A multitude of factors such as ever increasing prices, growing numbers of seniors, serious provider shortages, and a lack of affordability, even for many with good insurance, are driving change. New technologies, such as artificial intelligence, are slowly infiltrating the industry. Industry disrupters are seeing opportunity amidst the turbulence, and usage and practice patterns are changing dramatically as the industry attempts to move from fee-for-service to value-based care. Although change always takes a bit longer than we think or expect, it is inevitable in this case. When we look back in 10 years, healthcare practice and delivery may be unrecognizable from what we experience today. The following trend exemplifies the transformation that is under way.
Amazon is becoming a major disrupter in many areas of healthcare
The long-standing dysfunction in today’s healthcare industry has made it susceptible for disruption from outside sources who are not tied to the current way of doing things. One good example of this is Amazon’s recent announcement of expansion into the healthcare sector. For years, Amazon has been selling medical supplies and equipment to clinics and hospitals, but the company became significantly more aggressive in their healthcare plans for 2018.
As two former Amazon executives recently told CNBC, “There isn’t much that the company [Amazon] would be afraid to do” (Farr, 2018). And healthcare executives agree. In a recent poll by Reaction Data, 59% of healthcare executives agree “Amazon will be the most disruptive tech giant to enter the industry” (Cohen, 2018).
Additional Healthcare Trends to Watch
Other trends identified in this article include:
Cohen, Jessica Kim, “Most hospitals, clinic execs agree Amazon will ‘disrupt’ healthcare more than Apple, Google,” August 20, 2018, https://www.beckershospitalreview.com/healthcare-information-technology/most-hospital-clinic-execs-agree-amazon-will-disrupt-healthcare-more-than-apple-google.html
Farr, Christina, “As Amazon moves deeper into health care with PillPack buy, here’s what we know—and what we suspect—about its plans,” CNBC, June 28, 2018, https://www.cnbc.com/2018/06/28/amazon-health-care-plans-after-pillpack-buy.html
Winuk, Piotr, “Amazon is absolutely serious about disrupting healthcare,” July 4, 2018, https://pharmaphorum.com/news/amazon-is-serious-about-disrupting-healthcare/
Download the complete article here.
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