Using the information, I learn will help me be more knowledgeable about the financial, planning,
and organizational side of healthcare. Also, it will help me be successful in my upcoming career. A
current healthcare trend is the increasing use of virtual care. Healthcare has often lingered in other
industries in adopting digital tools, but the pandemic dramatically narrowed the gap. Consumers,
either unable or unwilling to leave their homes. Quickly transitioned to online services for essential
needs (M.D., 2020).
Virtual care implications are the cost of new updated telehealth equipment, repercussion cost if the
information is hacked, and payout occurs. Keeping updated technology can be very pricey and the
cost of having the equipment installed and maintained. For example, during the COVID pandemic,
healthcare organizations needed to invest in large cloud storage to store patient data, upgrade
software systems, to be able to connect to their patients via Zoom or Google Meets to provide care.
And ensure that the patients were still receiving the best online care as if they were receiving care in
person. The cost of virtual healthcare security is another concern with more patient information
placed online. Hackers can steal information and use it for identity theft. The reduced cost that
healthcare facilities may see is due to lower charges that come with virtual health. With fewer
resources being used, facilities charge less for telehealth compared to in-person care (Jaimon, 2020).
One healthcare trend in the U.S. that has emerged and increased with the Covid pandemic is virtual
care. Trends such as telehealth, virtual care, and home-based care have become the new norm.
Telehealth visits specifically, spiked at the beginning of the pandemic and continue, with these visits
as the new virtual mindset. In February of 2020, only about 1% of Medicare primary patient
appointments were conducted via telehealth. By April of the same year, only 2 months later, that
number jumped to 43% which affected organizations, providers, and patients tremendously (Martin,
2022). Proper planning and implementation are critical in preparing for this new virtual trend.
Implications on financial planning include increase in proper technology, setting up electronic health
records (EHR) for proper virtual communications between patients and providers, scheduling time
slots for provider visits as well as communication and education for all involved. These elements
should be considered for revenue and profitability when planning for a future with telehealth visits as
an increased part of an organization’s offerings. These implications can affect the number of patients
that are able to be seen. On average, the speed of telehealth allows for four more patient visits in a
four-hour time slot than in person visits. This affords more billing opportunities which ultimately
increase revenue for the organization. The elements would all effect revenue if not planned for
appropriately and would have a negative effect on the organization, providers, patients, and revenue
(Zielinski, 2020).
A health care trend that became very popular during this pandemic is virtual care. According to
Barron et al, the rise of virtual care has been driven by the need for social distancing and enabled by
a wide range of policy flexibilities implemented by federal and state legislators, regulators, and
payers (2021). The virtual care was seamlessly integrated and the mode of the care delivery is based
on clinical appropriateness and factors such as convenience and cost (Barron et al, 2021). The
integration of digital health solutions such as telehealth visits, remote monitoring, asynchronous
telehealth, continuous and passive sensors offer potential to provide access to high-quality care and
positive patient and physician experiences at a lower cost (Barron et al, 2021). It is important to also
note that some patients may have to take time off work unpaid along with the expenses for
transportation and parking just to get to their doctor's office. d
The healthcare trend I think that is having a big impact is artificial intelligence. AI, according to The
American Hospital Association, provides quality and efficiency in Radiology services, real-time
analytics, and productivity in non-clinical areas (Martin, 2022). There are financial benefits of
deploying AI in radiology, such as reducing the need to repeat tasks and tracking patterns to reduce
risk in turn reducing penalties while also reducing biased-based errors that result in penalty charges
(Martin, 2022). AI in Radiology allows healthcare institutions to allocate finances to other
departments, as opposed to spending on penalties. Real-time analytics provide for better decision-
making for patient care, therefore receiving better payouts from insurers for correct billing practices.
Automation is streamlining health system business operations that lean heavily on repetitive tasks,
such as supply chain, revenue cycle, and customer service. Adding automation to the budget for non-
clinical areas will benefit institutions by focusing the workforce on areas with greater need.
Automating supply orders, bill pay, and FAQs on websites can save time and money by not using
members of facility staff.
References
Martin, G. (2022). Top 10 Emerging Trends in Health Care for 2021: The New Normal. Retrieved
from American Hospital Association: https://trustees.aha.org/top-10-emerging-trends-health-care-
2021-new-normal
Barron, M., Mishra, V., Lloyd, S. & Augenstein, J. (2021). How to measure the value of virtual
healthcare. https://hbr.org/2021/06/how-to-measure-the-value-of-virtual-health-care
Martin, G., (2022). Top 10 emerging trends in healthcare for 2021: The new normal. American
Hospital Association. [Retrieved from]: https://www.aha.org
Zielinski, L., (2020). How to plan for and profitably operate telehealth services. Healthcare Financial
Management Association. [Retrieved from]: https://www.hfma.org
M.D., H. G. (2020, December 31). 5 Trends that will shape healthcare in 2021. Retrieved from
MedCityNews: https://medcitynews.com/2020/12/5-trends-that-will-shape-healthcare-in-2021/?rf=1
Jaimon, K. (2020, Nov). The internet of things: impact and implications for health care delivery.
Journal of Medical Internet Research, 22(11). doi:10.2196/20135
