The Transformation of the American Hospital: 2015-2020
NEW YORK, May 12, 2016 /PRNewswire/ -- The Transformation of the American Hospital: 2015–2020 : Shifting Strategy from Patient Volume to Value-based Outcomes
The US hospital industry is in the midst of a major transformation of clinical and operational strategy, moving from a "heads to beds" provider-centric delivery system to a collaborative care continuum, with the patient at the epicenter of attention. Research analysis covers how reimbursement cuts and regulatory changes contribute towards the evolving role of hospital-based care in the United States. It examines the current financial status of US hospitals; the emerging partnership models between hospitals and ambulatory care providers; and the decentralization of diagnostic imaging and clinical laboratory services from within hospitals to free-standing service providers. A vision of care provision in 2020 and beyond ends the study.
Key FindingsThe US hospital industry is in the midst of a major transformation of clinical and operational strategy, moving away from an era of a "heads to beds" provider-centric delivery system to a more collaborative care continuum, with the patient at the epicenter of attention. - This paradigm shift has not come about as a result of one "big bang" industry catalyst or business action. It is the culmination of a multitude of political, social, economic, and cultural influencers. Moreover, the movement to a value-based model for hospitals has driven inpatient-day statistics down and increased outpatient procedures. - Whole hospital revenue cycle algorithms are being re-evaluated and evolving to accept "bundled payments" and "shared risk" with suppliers, physicians, and payers alike. - Massive consolidation of physical plants, markets, and primary care networks is underway. Whole new legal entities such as accountable care organizations (ACOs) are tethering hospitals to their healthcare ecosystem and organizational footprint.- The way hospitals are reimbursed is also undergoing transformation, beginning with Medicare and Medicaid payments to virtually all third-party payors. Hospitals now are incentivized financially to meet targets for quality outcomes and for preventing readmissions.- The purpose of this study is to articulate and illustrate these transformations and suggest where the hospital industry is headed in 2020 and beyond.
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