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Healthcare execs share predictions for next decade: Four key findings

by Gus Iversen, Editor in Chief | July 19, 2024
Business Affairs
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A survey by Global Healthcare Exchange (GHX) has identified key trends and expectations among senior healthcare executives regarding the future of the U.S. healthcare system. The findings suggest significant transformations driven by technology, government policy, market dynamics, and global economics.

Conducted in April 2024, the GHX survey gathered insights from U.S. hospital, health system, and manufacturer executives, including C-suite and senior supply chain roles. A spokesperson told HCB News that the results are based on more than two dozen respondents.

Despite uncertainties, optimism prevails among industry leaders, with 70% anticipating improved public trust in the healthcare system over the next five to ten years. Here are the main takeaways:

1. The impact of AI
AI is expected to be the most disruptive force in healthcare, enhancing cost efficiency, quality of care, and patient outcomes. Cloud-based ERP systems are facilitating the centralization of data, enabling AI and machine learning applications to automate administrative tasks and drive intelligent analytics.

Over 50% of respondents anticipate AI to reduce operating costs by 5% annually starting next year.
AI's significant impact is expected within one to three years by more than half of the surveyed executives.
60% believe AI will greatly disrupt the healthcare industry.

2. The rise of integrated health systems
The survey indicates a shift toward integrated health systems, promoting health equity and addressing access, cost, and outcomes. These models are expected to improve patient outcomes, reduce administrative costs, and ensure affordable care accessibility.

70% of executives foresee increased competition among integrated health systems in the next seven years.
84% believe these systems will dominate in ten years, with 47% predicting significant industry impact.

3. Influence of government policy
Government policies are anticipated to shape industry operations significantly.

Over 80% of respondents expect bundled payments to become standard for most inpatient services within the next decade.

74% think U.S. voters will likely approve a single-payer system beyond the next ten years, with 42% expecting severe industry impact.

4. Financial pressures and consolidation

Financial pressures and industry consolidation are expected to reshape the supplier landscape.

70% of executives predict national health spending to increase by at least 4% annually over the next three years.

Half of the respondents foresee a reduction in the number of suppliers within one to three years due to financial pressures, impacting the industry moderately.

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