Three top concerns for today’s healthcare leaders
The healthcare industry is in a constant state of change. From advancements in research to technological innovations, many of these changes bring the promise of better, more effective care. At the same time, the fluid nature of this complex field tests the strength of healthcare delivery organizations everywhere. And since the pandemic began, the pace of change has accelerated, making it harder than ever for organizations to find stability.
These are just three of the major factors healthcare leaders are juggling today:
1. Staffing struggles
Professionals across a variety of industries have become familiar with the “Great Resignation,” or the increase in staff departures during the pandemic. For some in healthcare, that has meant retiring early or leaving the field altogether. Others have simply moved to different organizations, but their former employers are still tasked with filling in those gaps to maintain safe, compliant staffing levels. While the worldwide growing clinician shortage has been on leaders’ radars for some time, COVID-19 made it impossible to ignore. According to an annual survey by the American College of Healthcare Executives (ACHE), personnel shortages were hospital CEOs’ top concern in 2021.
2. Cybersecurity challenges
Healthcare has been a top target for cybercriminals for years, and these threats have only intensified more recently. Last year, 45 million individuals in the U.S. were affected by healthcare breaches—three times more than three years prior. These incidents are not only prevalent, but expensive. In fact, data breaches are more costly in healthcare than any other industry.
Many healthcare organizations operate on thin margins, meaning a single incident can create major financial setbacks. What’s worse, cyberattacks in the medical field can have life-or-death consequences if providers cannot access their records or if clinical data is corrupted.
3. Regulation and compensation
Healthcare is a highly regulated industry, and with good reason, as the lives and health of people are at stake. As new regulations are introduced, healthcare organizations must pivot to ensure they remain compliant, which can strain employees and the overall business. For example, a recent KLAS survey of revenue cycle leaders in the U.S. found that the majority were concerned they would need to devote significant resources to meet the requirements of the price transparency rule.
In addition to navigating the evolving regulatory landscape, many healthcare organizations are moving from fee-for-service payment models to value-based care. As a result, organizational leaders have to reassess their financial, operational and other strategies to minimize risk through the transition.
These issues all work against the sustainability of healthcare organizations—many of which are still recovering from pandemic-related disruptions. The hospitals and provider practices that prioritize agility, scalability and resiliency will best position themselves to handle new and evolving concerns that lie ahead. With the right technology partners, healthcare organizations can not only clear these hurdles, but reach new heights. Learn how Altera Digital Health can support your organization today and in the healthcare of tomorrow here.