V2U Research

Driven by changing patient needs, demographic trends, and technology breakthroughs, the global health care sector is going through an unparalleled period of transition. A few major changes will likely influence how health care is delivered in the future by 2024. For this significant shift, how can stakeholders and industry leaders get ready?

Sustaining COVID-19 Widespread labour shortages and rising costs are still caused by 19 factors, but adopting artificial intelligence (AI) offers potential remedies. AI is expected to be a key component in simplifying health care procedures; it offers accuracy and efficiency in all areas, including patient care, operations, supply chain management, and administration. As health care organisations implement eco-friendly techniques to address environmental problems and save costs, sustainability becomes increasingly important. By recognising the connection between social determinants and well-being, remote technologies are transforming the way that healthcare is delivered. This shift goes beyond the provision of medical services and encompasses holistic social care. At this pivotal moment, stakeholders are shaping the future of the industry by implementing new solutions in response to rising costs. These methods range from value-based care models to workforce changes.

We look at how these trends will likely drive innovation, sustainability, social care integration, cost control, and workforce adaptation in our 2024 Global Health Care Sector Outlook.

Using artificial intelligence to transform healthcare

Health care systems around the world are adopting new technology in the wake of the COVID-19 pandemic to solve persistent issues like cost containment, better access to care, and a scarcity of competent professionals. In addition to streamlining administrative and care processes and allowing physicians to concentrate on more complex operations, AI and other technologies have the ability to personalise patient encounters. Maintaining investments in technology is essential to realising its full potential and revolutionising the delivery of healthcare.

Important lessons learned:

In order to improve radiological imaging, optimise sleep monitoring, and better anticipate clinical outcomes, health care professionals are collaborating with tech companies to build AI technologies.

Artificial Intelligence (AI) holds great promise to revolutionise the healthcare industry by streamlining administrative processes and improving care provision. Both financial and non-financial advantages will come from it, including better patient outcomes, higher levels of clinician satisfaction, and higher-quality care. Optimising care, billing, and provider relationships may benefit private providers the most.

By anticipating future resource requirements, evaluating comprehensive data, and spotting significant patterns and trends, predictive AI can estimate patient numbers and assist hospitals in modifying staffing and resources.

AI is quickly becoming a need for competitiveness in the healthcare industry. However, a lot of organisations are still figuring out what AI can do for them. The purpose of Deloitte's AI Dossier is to provide executives across various sectors with concise overviews of the most important problems and prospects, along with an explanation of how AI might contribute to their resolution.

Considering price and accessibility

Global access, affordability, and quality are all at risk due to rising health care expenses. The COVID-19 pandemic exacerbated demand backlogs, inflation, and manpower shortages, which increased expenses. Potential options for providing more effective and economical care are provided by technology-enabled models. Countries ought to investigate creative approaches that use technology to improve care delivery models in order to combat the growing expense of healthcare and increase accessibility and affordability. This involves making use of artificial intelligence, telehealth, and remote monitoring to optimise resource allocation, expedite procedures, and customise patient care.

Important lessons learned:

Although labour costs represent a significant portion of the increase in health care expenditures, other factors also play a role. One of the factors is the cost of sustaining care facilities.

In order to lower the cost of age-related care, health care organisations around the world are starting to use cutting-edge technologies like virtual wards and AI-enabled diagnostic tools. In an effort to expedite diagnosis and lower the cost of treating chronic illnesses, providers are also making technological investments.

As a way to reduce health care expenditures, medical tourism is becoming more and more popular among insurance companies and corporations. Patients in the US are most affected by this.

To reform the organisation, new tactics are needed given the present cost environment. Cutting costs the old-fashioned way might not cut it anymore. Rather, health care organisations ought to reinvent themselves through the development of fresh capacities, connections, and proficiencies.

Addressing the impending shortage of health care professionals worldwide

There is a serious labour shortage in the global health care business; by 2030, forecasts show that there will be a 10-million worker shortage. Numerous variables, such as migration rates, burnout, and restricted talent pipelines, are contributing to this shortfall. It is anticipated that over the next ten years, there will be a 29% increase in demand for health care personnel, necessitating radical solutions to this pressing issue. The problem is significant and widespread, but how can the sector alter its care delivery strategies?

Important lessons learned:

One of the main reasons for the labour shortage in the health care industry is clinician burnout.

Health care leaders need to regain the trust of their sector and provide their profession new meaning, value, and purpose in order to draw in and keep clinical talent. Organisations attempt to accomplish this through a variety of strategies, including listening to frontline employees, acknowledging their clinical autonomy, giving them a voice in leadership, and creating an inclusive atmosphere.

Beyond fostering trust and increasing clinician compensation, technology has the potential to mitigate burnout by streamlining administrative procedures, which are among the main causes. AI has the capacity to manage pre-op workflows, relieve the stress of paperwork, and help with insurance claims.

It may be necessary for providers to rethink jobs and change their service methods in order to aid in increasing recruitment and retention.

Social care's function

A more comprehensive strategy that takes into account the socioeconomic determinants of health is replacing the conventional health care model, which was centred on treating diseases after they arise. In order to prevent disease and improve wellbeing, this integrated strategy combines social and medical services. In order to shift towards a health care system that is driven by social determinants, it is recommended that governments and healthcare providers make investments in the social care workforce. They should also introduce comprehensive service delivery models that give priority to prevention and reach out to underprivileged areas.

Important lessons learned:

Many nations are forming alliances in an effort to improve the pool of skilled social workers and make these professions more appealing.

Ensuring equitable distribution of investments in the socioeconomic determinants of health among marginalised communities is a priority for governments.

Providing social care services to marginalised communities is a persistent issue that became more difficult during the pandemic. Technology is beneficial. Many instances demonstrate how technology may serve a wide range of groups and promote inclusivity.

As part of their commitment to delivering total health, providers that prioritise social care should set up long-term frameworks for hiring and training their workers.

A long-term sustainable future

Significant health concerns are associated with climate change, especially in low-income communities with inadequate health infrastructure. To lessen the effects of climate change on patient care and the delivery of healthcare, the health care industry must modify its procedures. In order to lessen their influence on the environment and increase their ability to withstand climate change, healthcare institutions should adopt sustainable practices. In order to address the social determinants of health that are made worse by climate change, health care practitioners should also engage with community organisations and legislators to create a health care infrastructure that is climate resilient.

Important lessons learned:

In areas not used to dangerously high temperatures, there are catastrophic heat crises. Adding resilience to their operations is one way hospitals are addressing acute energy insecurity and how it impacts the provision of care.

Regulations pertaining to sustainability differ between regions. It can be difficult to remove obstacles between purchasing and clinical care in the absence of a thorough supplier engagement programme, standardisation, or explicit regulations.

Another method the health care industry may create more sustainable systems is by measuring environmental impact and having the ability to compare and learn from peers on how to minimise damage.

For communities that are disproportionately impacted by social determinants of health, a commitment to information sharing can also have an impact on health outcomes.