Opportunities in the healthcare sector continue to thrive, with the Bureau of Labor Statistics projecting 18% growth in employment between 2016 and 2026. The changing landscape of this industry has opened the door for several healthcare administration careers, indicating that the future of healthcare administration is bright.
So, why become a healthcare administrator? In fields from IT to marketing—and everything in between—new trends in healthcare management are generating a demand for professionals with wide-ranging skills. If you are ready to make a difference and attain new heights in your career, consider taking a position in healthcare administration. Here are just a few healthcare industry trends that will create opportunities for administrators in 2018 and beyond:
In an effort to reduce costs, many employers and insurance providers have begun offering high-deductible health plans. This in turn forces many people to pay out of pocket for much of their medical expenses, driving them to develop a comparison-shopping mentality.
In order to acquire and retain clients, practices must devise appealing marketing strategies. Likely trends in healthcare management that will stem from this movement include process improvement, cost reduction for certain in-network providers, and more common use of social media.
By engaging with consumers on social media, reducing the stress of various processes, and making information about medical services and recommendations easily accessible, some practices will have a leg-up on the competition. Creative marketers and managers skilled at distinguishing themselves from the pack are likely to thrive in this future of healthcare administration.
For years, healthcare has been notoriously complicated and stressful for clients. By automating, tracking, and simplifying various procedures, providers are able to address several high-priority 2018 goals at once. Enhanced consumer experiences, as explained in the previous section, are a growing trend in the healthcare industry. While the creation of patient portals have helped move the sector in the right direction, we can expect to see further advances in the future.
Optimizing processes can also help providers cut costs and reduce potential compliance issues. High-efficiency systems minimize wasted time and materials, ensuring that employees are focused on their necessary responsibilities rather than completing menial tasks. Tightening and untangling previously convoluted processes also minimizes risk by reducing the opportunity for human error. Healthcare administration careers in IT, systems administration, and management are likely to be influenced by this move to streamline procedures.
Many providers have begun to supplement their systems with additional services, allowing clients to receive multiple forms of care from the same organization. This offers a simpler, more straightforward experience, and may also result in fewer out-of-pocket expenses for patients. While brand loyalty is not a leading factor in consumers’ choice of healthcare providers, this expansion is predicted to increase, as other factors such as ease of use and low costs are considered more appealing.
Executives will need to think critically about potential growth options, determining which acquisitions are most valuable. To meet client demand by maximizing convenience and cost-effectiveness, they will also need to establish methods of communication and actionable procedures to make patient care as seamless as possible. Managers and systems experts will be invaluable, as they must ensure that processes are as efficient and secure as possible, to prevent potentially brand-damaging privacy breaches.
One of the most widespread trends in healthcare management is the move to integrate more technology to increase efficiency and enhance patient experience. As care facilities continue to shift to electronic records systems and integrate the Internet of Things (IoT) into regular practice, there has been an increasing demand for strong cybersecurity.
In the face of several hacks and breaches in recent years, privacy has become a critical concern for all healthcare practices. For IT professionals knowledgeable in HIPAA technical safeguards, cloud storage, Internet security, encryption, and network structures, the future of healthcare administration is rife with possibilities.
Big data and population health management solutions will continue increasing in popularity in 2018. We have only just begun to explore the possibilities of these trends in healthcare management. For example, using analytics to inform patient care has been linked to more successful and positive outcomes, such as fewer readmissions. Some providers have begun to develop “smart networks,” which draw on geographical, population, community, and reporting to determine the best investment and care options.
Information gathered about patient populations and individual clients will continue to help medical personnel deliver more comprehensive and effective treatment. For statisticians and other professionals with expertise in business analytics, this healthcare industry trend toward data-informed management will likely place you in a position of high-demand in the healthcare administration sector.
For anyone asking themselves, “Why become a healthcare administrator?” the above guide should clarify the many possibilities waiting on the horizon. Healthcare administration careers will be a hotspot for professional growth and opportunity in 2018 and the years beyond. Check out iHireHealthCareAdministration for more tips and tools to help you keep up with the developing prospects in this industry!