Trends in Healthcare Industry

Trends in Healthcare
Industry
2019
Student’s Name
5/25/2019

Trends in healthcare industry 1
Trends in the healthcare industry
Due to the growing age population and the prevalence of chronic health diseases, it
develops the emerging need for growing health care industries. The US health care system is
moving towards the financial model that is based upon the value and is able to generate more
revenue when the volume of the patient's increases. This, in turn, leads to increasing trends in
the healthcare industry. Further paragraphs will provide an outline of the trends in the
healthcare industry (Rodriguez, 2017).
It is analyzed that the consolidations in the health care industry are increasing rapidly.
In the year 2018, there is a merger and acquisition of 803 healthcare systems and 858
affiliations and partnerships were announced. It leads to better care by providing low cost
enhanced services to the patients (Rodriguez, 2017).
The millenials prefer personalization treatment and consider convenience and cost at
the highest priority. The consumerism trend is increasing and 65%of the health care
consumers focus upon the cost of the insurance. The millenials are analyzing the online
reviews and the demand for the retail clinics have increased from 9% to 24%. The younger
generation focuses on transparent pricing and prefers urgent care for the treatment (Kelly,
Blake & Plunkett, 2016).
The use of telehealth among the millenials is growing at a fast pace. It accounts for
$22 B in the year 2017 and will reach to $ 93.45 B by the year 2026. It is analyzed that 70%
of the consumers are using telehealth for urgent care rather than going to a primary care
provider (Groves et al, 2016).
The dependence upon artificial intelligence is increasing because it helps the hospitals
to collect the patient, financial and organizational data. It is recorded that 2.5 quintillion bytes