The shift in consumers seeking value-based healthcare is continuing to increase. As a result, there are numerous healthcare business opportunities on the horizon. National health systems are working on dealing with a changing payment and regulatory landscape that emphasizes efficiency, appropriate use, and transparency. This change places a premium on accessible, high-value, evidence-based, patient-centered care. But how does this shift to value-based care lend itself to healthcare business opportunities? Here are some trends that are adding to new growth in the industry.
- Behavioral Health Services. Expanded payer coverage combined with an increasing need will drive the demand for psychiatric services across the board. There is a projected 17 percent growth in urgent visits to the emergency room for behavioral or mental health over the next five years. The expansion of intensive outpatient therapy programs will help address demand and access issues during this growth period. Outpatient therapy programs lend themselves to healthcare business opportunities in this field and beyond to keep up with the need.
- Increased Consumerism. General consumerism when it comes to medical care presents ample healthcare business opportunities in the field. The move toward patients using urgent care centers and other specialized “quick” clinics is creating a demand that needs to be met by medical professionals and entrepreneurs. This consumerism is driven by high-deductible health plans as well as new franchises offering low-cost yet convenient healthcare. Consumers are demanding high-quality healthcare at reasonable prices and as a result, franchising is becoming the go-to healthcare business opportunity.
- Less Emergency Room Visits. Going along with the last point, consumers are moving away from visiting emergency rooms to seek primary care. Though it’s still an issue in various markets, those markets that offer convenient care locations have found a reduction in the utilization of the emergency room. The use of emergency room visits for basic care is expected to continue to decline. When available, patients are using urgent care facilities as opposed to the ER to not only save money, but reduce the wait time to be seen.
- Increase in Certain Types of Patients. A decline in inpatient discharges is expected over the next few years, however as technologies improve additional healthcare business opportunities will result. According to Sg2, cardiovascular surgeries are expected to grow by about 9 percent over the next five years due to an increase in valve surgeries and a rebound in coronary bypass surgery. With the increase in specific sects of patients, healthcare businesses providing these services will find an increase in patients seeking specialized therapies and procedures.
- Observation Care Increase. The set of patients who do not require inpatient care or emergency services is anticipated to grow over the next few years. This presents healthcare business opportunities for medical professionals to accurately assess how to address this increased need in observant care. Though the patients may not need emergency or inpatient care, they do need to be kept for observation for a short period. As hospitals are struggling accommodate the population, this presents unique healthcare business opportunities for the correct care model.
- Evaluation of Post-Acute Care. The cost of post-acute care, or the treatment plans patients receive after being seen, have historically been exorbitant. Due to this, the evaluation of post-acute care has become a hot topic in the medical community. Figuring out how to reduce the costs associated with post-acute care is crucial. One way seems to be to standardize post-acute care. The shift to lower these costs presents healthcare business opportunities for those that crack the code to decreasing post-acute care costs.