Healthcare organizations (HCOs) are navigating turbulent waters as they confront long-standing industry challenges and broad economic currents. The convergence of these factors tests HCOs’ adaptability and resilience. They face rising medical costs and utilization, dwindling consumer trust, an increasing demand for price transparency, and the weight of an impending election. In two new reports on healthcare trends in 2024, we explore how HCOs can weather the storm and overcome these challenges.

Healthcare Providers: Balance Innovation And Business Realities

The crew is getting restless. Mounting clinician burnout and growing medical deserts are creating an unsustainable new normal in healthcare. Healthcare provider organizations (HPOs) transitioning to value-based care models and exploring generative AI solutions should be cautious about their potential consequences. These ramifications not only affect patients but also impact hospital staff, making it crucial for leaders to address them before workforce dissatisfaction reaches a breaking point. HPOs must stay grounded and vigilant, focusing on critical infrastructure and improving employee experience before venturing into new waters. Check out the full report to delve into the top five trends that healthcare providers need to prepare for in 2024.

Health Insurers: Balance Differentiation And Cost Cutting

Like a new boat owner, health insurers are discovering that the promise of Medicare Advantage is not reality. Instead, they encounter empty sails as disappointing profits and controversial changes to star-rating calculations emerge. To address shrinking margins, health insurers are implementing cost-cutting measures and adopting AI, particularly in prior authorization, where there is increasing pressure to reduce turnaround times. As health insurers strive to regain stability and stand out from the competition, they must prioritize customer trust and loyalty. Check out the full report to explore the full list of the top five trends that health insurers need to prepare for in 2024.

Prepare To Sail The Changing Winds

Interested in plunging deeper into these trends and charting a course to smoother sailing in 2024? Forrester clients have the option to request an inquiry or guidance session. If you are not a Forrester client, you can reach out to the Forrester account team to explore how you can benefit from Forrester Decisions and harness its power.