Free Essay: Challenges Facing Healthcare Sector
With the increasing demand for better healthcare facilities and professionalism, the healthcare is going through many troubles that may take many years to solve. Every nation seeks to improve its healthcare sector. In fact, most hospitals and health systems are facing more pressure and more is expected in the coming years to establish core skills needed in order to thrive in the rapidly transforming healthcare market. Most of these challenges facing healthcare sector are avoidable if proper measures are taken.
Many leaders in the field have been strategizing how to improve the sector. Many have opted for new healthcare systems that have been made available by advancing technology. New reforms are being made now and then and each year has become a bit tough for many healthcare practitioners. All in all, here are easy to pick challenges that face the sector;
- Marching the shift to value-based models- healthcare leaders have to put up with infrastructure and governance practices in order to be able to put up with infrastructure and governance practices that support value-based models despite having significant revenue for fee services. Unfortunately, many healthcare providers finding it challenging to keep up with the cost of maintaining and building their value-based organizations.
- Responding to the economic dynamics of local markets– Many healthcare organizations that are drifting to value-based models, need to compete with the realities and limit set by the local economies. This has been influence by the strategies of the large employers to reduce their healthcare costs, physician practice alignment and concentration of the payer market.
- Not able to secure growing market share– Gaining the market share has never been an easy thing for many healthcare institutions. It is a great concern regardless of the payment model change. Provider need to gauge the market strategies such as consolidation, strategic relationship and traditional or non-traditional partnership. This is irrespective of the large revenue the sector continues to make.
- Coming up with alternative revenue stream– Despite some healthcare systems hold considerable amount of cash reserves and being better positioned to make more investments, it is a challenge to support their main patient care business.
- Not able to contain the main operating cost– Many healthcare institutions are spending a lot on approaches to use and hold back the cost of operations. They are also focused in reducing utilization through standardization or management of care variations.
- Slow consolidation in the sector– Many decisions that have been made by government have slowed consolidation efforts. For a few years and with high demand for health care services, pace of partnership has accelerated among independent hospital and practices, but this has not been the case with small hospitals and this has pushed many institutions to spend a lot on mergers.
For the healthcare to be effective, it has to be multilayered and multifactored due to increased disparity. Healthcare institutions need to come up with great strategies to address the many challenges facing the sector, moreover the provision of healthcare services to the poor and needy. With advancing technologies and high cost of healthcare, healthcare is going to face a lot of challenges that need to be properly addressed by the government and respective institutions.
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