2023 healthcare sector outlook

Healthcare technology trends and forecasts for 2023.

Savvy owners and operators of medical practices know that it is prudent to periodically look ahead to the future of healthcare technology trends. The idea is to carve out a bit of room in their already busy schedules to get a better understanding of what may be to come. Doing so can help you support your bottom line in the coming year.

For example, are there changes in the local patient demographics to keep an eye on, or do experts predict that the next flu season is going to be particularly challenging? What about emerging technology trends that might have an impact on organization or medical professionals?

While a great deal of medical training remains valid over the years, one has to engage in continuing education to stay certified. And one area of medicine that never stays the same for long has to do with the technology and equipment that play such vital roles in diagnosing, treating, and supporting the patients under care.

The healthcare industry and owners of medical practices are aware that it is wise to frequently scan the horizon for emerging trends in healthcare technology. The goal is to find a small window of time in their already packed schedules to gain a better grasp of potential future events. With that in mind, here are some of the top healthcare technology trends and forecasts for 2023.

Telemedicine
The advent of the global coronavirus that caused Covid-19 infections shut down large sectors of the economy, and it had a big impact on medical practices and healthcare technology trends. Many patients canceled their appointments, fearing the idea of spending time in a waiting room with other people who might harbor the virus, let alone in-person encounters at reception and with nurses and doctors.

So, telehealth usage increased as a way to let doctors still see patients, even if in a limited way. Experts predict that there will be a rise in the use of telemedicine. According to a report from Healthcare Dive, the costs of medical services involving telehealth are poised to reach USD 106 billion by 2023, a 265 percent increase from 2020. In particular, industry researchers think that patients who suffer from chronic conditions will be the biggest part of the population relying on telehealth sessions with their healthcare providers.

Utilizing the cloud for outsourced billing
Another pain point for medical practices since the pandemic has been a rise in staff shortages as healthcare professionals retire or move elsewhere, which has been evident in treatment facilities. It has been especially hard-hitting in California and New York, where the labor force in healthcare may plummet by as many as 500,000 professionals by 2026. One result of this shortage is medical practices scrambling to get their billing done in a more efficient and timely manner.

According to Medgadget, the global medical billing outsourcing market is anticipated to reach 12.5 percent CAGR by 2023. This indicator may motivate you to outsource medical billing, which can help healthcare providers gain greater control over the bottom line.

Since practices often cannot hire internally as many billing staff members as they would prefer, it makes sense to outsource this work to a third-party medical billing facility.

Remotely monitoring patients
One important area in technology to keep top of mind is the ability to monitor patients remotely. With the healthcare industry rapidly evolving, digital health solutions are certain to improve patient outcomes in the future.

In 2023, one can consider that it will be much easier to put a heart monitor on a patient for an in-home study instead of keeping him in the hospital for several days. Healthcare providers can see at a glance the vital statistics of their patients, who are still at home, from the convenience of their office.

Accounting for security and technology costs
With the use of software and healthcare technology comes a requirement to protect these systems with monitoring systems, including firewalls and anti-malware applications. Buyers may need to adjust their budget to account for increased security demands.

In 2023, it’ is safe to assume that criminal hackers will be making attempts to break into data, stealing sensitive information on patients that one must keep secure to comply with the Health Insurance Portability and Accountability Act of 1996. Buyers may need to consult with computer security professionals to make sure they are doing what is needed to shore up network and maintain patient privacy.

Place of AI in healthcare
It is no secret that artificial intelligence (AI) is making waves in many areas of business today, and healthcare is no different. One may interact with AI while calling a company that is short on human customer service representatives, or their bank may use AI to pre-qualify for a loan. In medicine, people have already been relying on AI to speed up medical billing and revenue collection.

These healthcare technology trends are possible because AI can quickly examine huge amounts of unstructured patient data and make relevant connections for healthcare organizations.

As noted by Insider Intelligence, AI can automate administrative tasks in a medical office, such as preauthorizing insurance and keeping patient records in order. AI can also analyze information from patient devices, from smart watches to glucose monitors, keeping tabs on the details that humans could not possibly process in real time.

Patient engagement
Patients are increasingly accustomed to using smartphones, laptops, and tablets as well as desktop computers to interact with companies, their job, and school. It makes sense that they would want to engage with healthcare providers in a similar way.

An emerging trend for 2023 will see more people taking advantage of patient portals connected to their doctor’s EHR system.

The software allows a patient to log into doctor’s system to do things like request an appointment or a prescription reauthorization, for example, or to leave a message for the doctor, which is much faster than waiting on the phone to do such tasks. It will be more convenient for patients as well as save time for the staff.

Monitoring blood sugar levels with ambient intelligence
Hospitals can monitor a patient’s blood sugar levels covertly and continually, thanks to wireless sensors integrated into an ambient intelligence network. For this reason, patients are made to wear biocompatible wearable technology. In addition, a patient’s body receives sensors. The implant subsequently transmits the information it has gathered to a telemeter, which then relays it to medical professionals and patients. This is a huge improvement in the healthcare industry.

Smart care promotion using ambient technologies
Medical facilities are using all types of ambient technology for smart living. All medical procedures will continue to be automated by the industry, and the faster these technologies are developed by researchers, the more healthcare professionals will be able to interact with them.

Tools for ethical ambient intelligence
Researchers must ensure data privacy and model openness for ambient intelligence to be accepted as a tool in the healthcare sector. Re-identifying data by obliterating individual identities is one of the most important privacy-preserving strategies. Creating trustworthy systems is essential because the deployment of ambient intelligence requires the collaboration of medical experts, researchers, and computer scientists through law and ethics.

Ambient intelligence use outside of hospitals
By enabling personnel to care for patients as freely and conveniently as possible, ambient intelligence technologies not only make hospitals safer but also reduce the cost of healthcare. There is no doubt that it will improve patient care, raise provider satisfaction, and cut back on healthcare and treatment expenses in the healthcare industry.

Hospitality industry will offer mental health benefits
A healthy workforce is the backbone of the hospitality industry, yet the burnout rate of people working in this industry is among the highest of all industries. Stress, anxiety, and depression caused by employment rank among the top reasons that hospitality employees seek employment elsewhere. Four out of five hospitality employees report high-stress levels due to their positions, and the CDC reports an overall increase in depression and anxiety symptoms to 42 percent across the US. In response, the hospitality industry is snapping into action and has begun offering healthcare benefits – including mental health services – to combat high turnover. In fact, 87 percent of employers said that enhancing medical health benefits will be among their top priorities in the coming years.

This will bolster their employee medical benefit offerings, help retain staff, and improve their employees’ mental well-being.

Outlook
The condition of software and technology would not remain static for very long, that much is certain. There is always room for innovation. To keep team ready, the secret is to keep up with healthcare technology advancements.