As the healthcare industry grows and changes year by year, new systems are adopted and different types of challenges are tackled by the healthcare organizations and the government all over the world. Telehealth, Artificial Intelligence and Machine Learning, virtual reality, all these changed and developed the face of healthcare. The major development in the healthcare industry was that it shifted to value-based care. As 2020 approaches, healthcare is set to welcome new healthcare business models, mergers and acquisitions, and reimbursement structures. Some of the changes that are predicted to happen in healthcare industry in 2020 are:
Immunotherapy- not so revolutionary
After several years of emphasis and capital expenditure from biotech investors, the market for another big budget immunotherapy is getting low with divergent concepts and the newest batch of immune oncology programs is beginning to look exponential, thus not revolutionary enough to maintain its high prices that are needed for their production.
AI will finally be clinically useful
Although we stay genuinely excited about cases of non-clinical use such as more efficient billing, coding, credentialing, and provider directories, we believe that AI will begin to become useful and practical using cases to support biomedical research and support clinical decision making.
No disturbance from the Big Giants
In the last three years big giants such as Amazon, Google, Facebook and Apple had mainly shifted their attention into healthcare. Various policies, reforms and techniques of healthcare were given to the world by these companies. But it has been judged from the given conditions and atrocities around the globe that, this year the big techs are going to de-prioritize healthcare and move towards dealing with other crises such as public trust, privacy, and other consumer technology opportunities.
Primary Care Physicians (PCPs) will be free
The PCPs will wake up in 2020 and finally realize that they can obtain more benefit and work easily outside the health systems. As a result, payers will try to lure PCPs by offering them higher compensation, start-up money, and even subsidized office space and technology to break free.
Increase in Biomedical Research
More hedge fund managers will follow the lead of Chan-Zuckerberg and Sean Parker, particularly from the recent generation of tech companies, and set up biomedical research institutes. The promise of using new tools and computing power to combat biology and cure disease will be done by successful entrepreneurs.
Privacy of Data will be taken seriously
Few times, data and medical records were stolen by the companies or offered/selled by the Tech Companies to the pharma sector without the consent of the patients. This led to tremendous breaches in various private medical records of people all around the world. As AI comes around there will be seriousness regarding data privacy of the the patients and various policies, rules and laws will be formed for doing so both by healthcare organizations and government.
The main priorities of healthcare industries will always be improving and taking care of its people.With all of these changes afoot, there are several keys for health systems to stay ahead of the game in 2020.