Everything is becoming more expensive, so it’s not a surprise that employer-sponsored healthcare costs and premiums are growing exponentially.
But the question arises: who bears the brunt of these increasing costs?
The short answer is everyone. Employers, health plans, and especially employees are all impacted by rising employer-sponsored healthcare costs.
The 25th Employer Health Benefits Survey (EHBS) provides a snapshot of the nearly 153 million individuals enrolled in
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How AI Can Drive the Transition to Value-Based Care
The healthcare industry is at a crossroads, grappling with the dual challenges of declining health quality metrics and skyrocketing care costs. The reality is that health outcomes are driven more by what patients do than by what providers or payers do.
It is estimated that 80% of health outcomes are driven by non-medical factors – often social or behavioral risks that impact health and lead to poor outcomes and high costs. Value-based care (VBC) shifts this focus to helping the patient
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The Connection Between Patient Satisfaction and Healthcare Finance
Understanding patient satisfaction scores is not just about numbers. It's about gaining insights that can significantly impact the revenue cycle. From reimbursement rates to patient retention to physician referrals, what we learn about the patient experience is a powerful tool in our hands.
Navigating this landscape can be challenging for healthcare providers. Many organizations lack a standardized method for measuring patient satisfaction across departments. This leaves the door open for
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How Healthcare IT Teams Can Secure Executive Buy-in for Critical Cybersecurity Investments
It's well known that ransomware is on the rise across industries. Healthcare organizations experienced more ransomware attacks than any other critical infrastructure sector last year, according to the FBI’s 2023 Internet Crime Report. Given the wide-reaching consequences and direct patient impact of such attacks, it’s become clear that investing in cybersecurity is a critical priority. This is particularly true of securing Microsoft infrastructure, including identity management systems like
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Ready to Change Your Pharmacy Strategy? It’s Time for Analytics, Data, and AI
When you think about pharmacy, the first thing that comes to mind is data, right?
Admittedly, it’s not my first thought either. But for organizations that are chasing after stronger, more integrated strategies to deliver care to patients, a pharmacy data strategy – and pharmacy partnership with analytics platforms – is often the first area of focus to drive change and deliver stronger outcomes.
The idea of “pharmacy” isn’t just in the terms of where a patient picks up their
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Artificial Intelligence (AI) in Healthcare – Today and in the Future
Artificial Intelligence (AI) is continuing to gain traction in the realm of healthcare and medicine. According to a study by the American Medical Association, 41 percent of physicians said they are both equally excited, and concerned, about the potential uses of AI in healthcare.
As AI capabilities continue to grow, there are a variety of ways AI can be used in a practice. Let us outline several AI applications that have the potential to positively impact both patients and
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Why Payers Must Be Innovation Champions to Increase Healthcare Affordability
The U.S. Healthcare economic system must change. For too long, it's been one long game of whack-a-mole trying to keep prices in check. That game can end if healthcare, particularly payers, look to mirror the success stories of other major industries.
In the late 20th century, when the fee-for-service version of healthcare grew in popularity, inpatient costs started increasing. To rectify this, the Centers for Medicare & Medicaid Services (CMS) introduced the Inpatient Prospective
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Navigating The Mental Health Challenges of an Aging Population
As the baby boomer generation ages, the “silver tsunami” is contributing to a significant demographic shift. According to the U.S. Census Bureau, the population of Americans over age 65 increased by 13 million between 2010 and 2020, marking the fastest growth rate since the late 19th century. This trend is expected to accelerate, bringing with it various public health challenges, including a rising prevalence of late-life depression. The numerous factors contributing to late-life depression
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Data Storage: The Foundation to an AI-Driven Health System
The possibilities of artificial intelligence, and more specifically generative AI (Gen AI) in healthcare are vast — streamlining administrative tasks, expediting patient diagnosis, and even helping with medical research. Right now they’re focused on point AI solutions producing real but limited impact on healthcare outcomes. The potential impact is much greater.
The first step for any healthcare organization leveraging AI is a sound, comprehensive data storage strategy. Any large or
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AI Washing in Healthcare: How to Identify and Avoid Empty Promises
The costs of care are rising, and with them, the pressure on healthcare systems to manage resources effectively. Between 2019 and 2022 alone, overall hospital expenses surged by 17.5%, while hospital labor costs grew by 20.8%, according to a recent report from the American Hospital Association. This financial strain, coupled with ongoing resource constraints and staffing shortages, has created a perfect storm, making it increasingly difficult for health systems to maintain both
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