As the US healthcare system braces for significant transformation in 2024, patients and providers alike are preparing for a nuanced set of challenges set to evolve in ways that could improve efficiency under a new Value Based Care Model.
A January 5, 2024 article, published by McKinsey & Company titled “What to expect in US healthcare in 2024 and beyond” outlined a four point plan to address the highly intricate and intimate dysfunction that is the US healthcare system.
What should we be expecting ?
What changes are on the horizon?
Whatever will we win this year?
This article takes a look at the upcoming changes in the US healthcare system and the implications to providers, patients, insurers and pharmacies.
Discussing the US healthcare outlook for 2024 while also highlighting recovery from labor shortages, inflation, and the impacts of COVID-19, the McKinsey & Co article makes clear that the systems transition towards a value based care model will rely on increases in reimbursements to drive its’ financial recovery.
Here is a look into some significant changes headed our way:
Key Changes in Healthcare
This four point plan includes several strategies aimed at addressing current challenges and enhancing overall performance:
Growth of Medicare Advantage: By expanding these plans and managed care for dual-eligible populations, the system hopes to offer better coordinated and efficient care.
Value-Based Care Models: Increasing adoption of this model focuses on rewarding healthcare providers for patient outcomes rather than the volume of services, which can improve quality and reduce costs.
Technology and Specialty Pharmacy Services: Expanding these roles can enhance patient care through better medication management and innovative treatment options.
Health System Transformation: Efforts to transform health systems and increase reimbursement rates are intended to stabilize finances and support recovery from pandemic-related disruptions.
While these strategies have the potential to improve healthcare delivery and financial stability in particular sectors, other groups such as physicians and patients, face a mix of challenges.
In particular Medicaid enrollees stand to face significant hardships due to potential loss of coverage and the associated financial and health impacts.
Keep reading with a 7-day free trial
Subscribe to THE BHIVE BUZZ to keep reading this post and get 7 days of free access to the full post archives.