What to expect in 2024
Hello everyone,
This being our first full week in 2024, we thought we’d take a look at some predictions for the year ahead.
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Submitted by Peter
Industry organizations will be looking to embrace advanced technologies to drive patient-centered care and systemwide interoperability. As we look ahead to 2024, here are eight key healthcare trends that will shape strategic decisions and investments across provider organizations and the industry as a whole: Telemedicine and digital health solutions, Artificial intelligence and machine learning, the rising need of efficiency, quality, big data and insights, Value-based models vs. fee-for-service, digital defenses, and interoperability.
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Submitted by Noah
Forbes recently released their top 10 predictions for the healthcare industry in 2024, with a few highlights worth noting. Ahead of this year’s US presidential election, Forbes predicts that candidates will remain largely silent on healthcare in their respective platforms/proposed policies, with healthcare likely to take a backseat to hot-button topics such as the economy and conflicts in Ukraine and the Middle East. In the tech space, Forbes predicts that at least one “big tech company” will fold or reboot their healthcare efforts in 2024; Amazon, after their acquisition of One Medical and their launch of Amazon Clinic, have reestablished big tech’s place in the healthcare space. Finally, Forbes predicts a notable increase in popularity and proliferation for GLP-1 agonists (such as Ozempic and Mounjaro), with a wider pool of individuals turning to these “wonder drugs” as a weight loss method.
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Submitted by Michele
Blessing Adesiyan, Founder & CEO of MH Worklife, reflects on how we can close the care gap in 2024. The issues in care span across aging care, childcare, disability care, health care, climate care and more. Blessing’s reflection touches on how we can begin to address the care gap as individuals by promoting gender equality in household responsibilities, encouraging women’s wellbeing, balancing household duties among children, and more. She also considers how workplaces can begin closing the gap by implementing fair workplace practices, developing comprehensive benefits programs, recognizing and valuing paid care workers at home, and more. This New Year memo touches on many of the care gap issues facing Americans today, and also features articles on “What Many Companies Still Get Wrong About Parental Leave”, “New York Could Be the First State to Offer Prenatal Paid Leave” and “Facing Financial Ruin as Cost Soars for Elder Care.”
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Submitted by Rachel
Looking ahead to the future of healthcare, we acknowledge that the industry is constantly evolving and facing new challenges and opportunities. As we approach 2024, we can expect to see the continuation of several trends that are significantly impacting the industry: Coping with financial pressure, dealing with workforce shortages, differentiating to stand out, prioritizing patient-centric care, & increasing access to care.
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Submitted by Melissa
This piece from McKinsey examines sectors of healthcare including payer, provider, pharmacy, and services and technology, and forecasts drivers of growth and change within each. For payers, by 2027 its projected that government segments will be 65% larger than commercial with notable increases in dual-eligible (Medicare and Medicaid) populations. For providers, bright spots include the continued growth of value-based care, and profitably growth from non-acute care sites such as physicians' offices and ambulatory surgery centers.
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Submitted by Chris M.
Now that telemedicine is a mainstream method for healthcare delivery, C-suite executives and health IT leaders at provider organizations must keep a sharp eye on trends in virtual care. Telemedicine is too important now to take for granted. Jon Salon, president of MDLive, an Evernorth Company, a virtual healthcare delivery services vendor, gave his insights and predictions for the coming year.
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Gates believes we are in the calm before the storm of AI healthcare revolution. Gates believed that most of it wouldn't emerge in the new year and some may not leave the lab at all. He said the work was setting the stage "for a massive technology boom later this decade." A few of the projects Gates namechecked were attempting to use AI to combat antibiotic resistance, treat high-risk pregnancies, and help people assess their risk for HIV.
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Submitted by Julie
As care delivery models expand and options proliferate, a segment of patients will emerge who’s remarkably savvy at navigating access points. They will almost gamify the process to help ensure they get right level of care in the right place at the right time … all while trying to rein-in rising costs.
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Submitted by Pete
Among the predictions for 2024 “In 2024, consumers will become increasingly savvy about what they put on their bodies and who they listen to for advice, prioritizing research and expertise." Forecasters believe the same goes for wellness-focused social media. That would be welcome news indeed. Combine that with predictions for an increased focus on social connections, and looking toward longevity and the outlook for 2024 seems quite positive.
Always enjoy Scott’s perspective. Here’s the list – definitely worth reading the entire article:
·?????? U.S. Inflation Drops Below the Fed’s Target of 2.5%
·?????? Housing Sales Boom
·?????? Paramount Consolidated, Disney Consolidator
·?????? Two Stock Picks: Streaming Laggards
·?????? TikTok Comes for Netflix and Spotify
·?????? Peak AI
·?????? Big Tech Stock Pick: Alphabet
·?????? Tech of the Year: GLP-1
·?????? India Is the New China
·?????? Geopolitics: U.S.-China Relations Thaw
·?????? Geopolitics: Saudi Arabia and Israel Normalize Relations
·?????? Musk Loses Control of Twitter (Or Sells It)
·?????? Meta’s 2024 Growth Vehicle: WhatsApp
·?????? Political Prediction: Biden Gets Reelected, and Trump Gets Sentenced
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We don’t typically focus much attention on younger consumers in healthcare. But they are often the leading indicator of trends and behaviors that will impact people of all ages. Making this article from Adweek worth a read.
And now for the opposing point of view. Actually, this is an interesting way to look at the trends and issues in marketing – from the perspective of the things that won’t happen. From no U.S. federal privacy law in 2024, to the limits of Netflix’s advertising platform.
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January 12, 2024 | 6.1