BLOG

Top Challenges for the Healthcare Industry in 2018

Oct 11, 2017

The healthcare industry has come a long way over the last few decades, thanks to the technological advancement and innovation that has given rise to new growth opportunities in the global market. Being one of the most complex and expensive markets, the healthcare industry has several layers and costs to manage and maximize revenue opportunities effectively. The organizations in the healthcare industry are faced with dynamic market conditions and plagued with constant trials and testing to ensure quality levels and regulatory compliances. With only three months to go, the healthcare sector is inundated with challenges that need to be addressed to effectively develop risk mitigation strategies.

Speak to an analytics expert for unprecedented insights on the role of predictive analytics in healthcare.

Prediction Issues in the Healthcare Industry

The technological innovation will continue to impact every function in the healthcare industry. As a result, the healthcare executives must identify these issues and devise an effective strategy to retain their market share and thrive in the global market landscape. Data security, cybersecurity, and integrating m-health technology are among the top challenges for the healthcare industry. Let’s have a look at the top challenges that the healthcare executives will have to address and devise effective risk mitigations strategies.

  • For the healthcare executives, leveraging big data and advanced analytics to gain clinical evidence and use it to improve patient engagement and service outcomes will be a major challenge
  • The organizations in the healthcare industry are moving away from a fee-for-service payment model to a more strategized value-based payment system. This transition from the legacy system to a modern approach will be challenging but guarantees to minimize costs and enhance medical service and health care quality
  • With the new payment structures and approaches, there is an increase in the pressure from regulatory authorities and legal organizations to drive cost transparency in their transactions
  • The recent cyber-attacks have raised concerns over the data privacy and security of consumer information. As a result, the healthcare service providers are burdened with the responsibility of ensuring the patient information is secure and safe
  • The digital technologies will be another roadblock to overcome for the healthcare industry. The mhealth technology will help the healthcare service providers to improve data collection and enhance disease management

To know more about the challenges facing the healthcare industry, request for more information from our industry experts.

Related Articles:

Ready to Harness Game-Changing Insights?

Request a free solution pilot to know how we can help you derive intelligent, actionable insights from complex, unstructured data with minimum effort to drive competitive readiness, market excellence, and success.

Recent Blogs

Workforce Management Trends of 2021

Workforce Management Trends of 2021

Driven by the disruption of COVID-19 and enabled by technology, the world’s business leaders can redesign workforce management and redefine ways of working. Organizations are now rethinking workforce management, planning, performance, and experience strategies. Now,...

read more
Tech Trends 2021

Tech Trends 2021

After disruptions caused by the coronavirus crisis starting in 2020, businesses are looking forward to getting back on course and becoming sustainable. 2020 has created havoc and made holes in long-standing norms about how companies operate. It has become evident that...

read more
Sustainable Supply Chain and Big Data Analytics

Sustainable Supply Chain and Big Data Analytics

Sustainability concerns are sprouting up in every industry. A growing population of consumers now prefer eco-friendly and sustainable businesses. Organizations are striving to address this concern, while improving internal systems and processes, by developing supply...

read more

Industries

Our advanced analytics expertise spans across industries, sectors, and functions, which enables us to deliver robust, agile solutions to all our clients. These are our core competencies, formed through years of experience.

Insights

Our free resources shed light on our extensive expertise and equip you with information to accelerate decision-making, growth, and innovation.