Determining a hospital’s strategic focus for the upcoming year can be challenging. From combating the ongoing workforce shortage and addressing chronic disease management to enhancing financial performance and hospital flexibility, there are often competing priorities.
Learn 3 key trends expected to impact hospitals in 2023 and how health leaders can leverage each to meet the need in their local community.
- Rise in flexible care models
COVID-19 highlighted the need for bed flexibility and evolving care models. In response, hospitals are reviewing the scope and scale of their care continuum – leading to service line expansions, and an increase in ambulatory sites, digital health, primary care and post-acute care.1
Co-location, or the integration of multiple care settings on one hospital campus, continues to see substantial growth as patients with both physical and mental illnesses want to receive high-quality care without having to transfer them outside of the system. With the guidance of a focused post-acute partner, this model can streamline a hospital’s care approach and serves as an effective strategy for overall outcomes and flexibility. - Focus on Financial Stability
Eighty-three percent of healthcare executives note financial stability as a top priority for their 2023 strategic plans.2 However, managing all aspects of a post-acute unit or hospital has become more financially challenging due to growing patient complexities, readmission risks and the expansion of value-based care integration.
A post-acute partnership can aid in a successful transition to value-based care and help equip hospitals with the resources to increase care quality and efficiency. This can help reduce readmission risk and generate long-term cost savings for the entire hospital. - Growth of Strategic Partnerships
The rise in complex illnesses, growth in consumer expectations, and an increasing emphasis on affordable and high-quality care have shifted the healthcare landscape. Throughout the pandemic, health leaders turned to innovative solutions to effectively meet the growing demand in their community. Contract management and joint-venture partnerships emerged as a proven strategy to expand care in a high-quality and cost-effective manner.
Strategic partnership offers access to new capabilities, increased speed to market, and greater efficiencies in capital, scale and operations. Being able to rely on a partner with access to a robust team of clinicians and post-acute professionals all focused on making their program successful allows hospitals leadership to focus on what really matters – the patient.
Read 2023 Post-Acute Trends: Five Strategies to Improve Hospital Outcomes, to uncover 3 additional trends expected to impact hospitals in 2023 and how your hospital can prepare.
References:
- Singhal, S., & Patel, N. (2022, August 5). The future of US healthcare: What's next for the Industry Post-covid-19. McKinsey & Company. Retrieved September 22, 2022, from https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/the-future-of-us-healthcare-whats-next-for-the-industry-post-covid-19
- HFMA, (June 2022), Rehabilitation Service Live Survey, [PowerPoint Slides], Healthcare Financial Management Association
