Depending on your perspective, the health care sector could be good, bad or ugly in 2020. Health care means different things to different people. Whether you’re a provider, administrator or employer in this market will make a big difference in terms of what the year holds in store for you. Either way, change and cost pressures will continue to define the industry—not only in the near future but long term.
If you’re a hospital, you’ll face more competition. Industry experts say the Capital Region market is overbuilt and over-bedded, but that hasn’t stopped institutions from expanding their local presence, particularly in the fast-growing areas of Livingston and Ascension parishes, with new urgent and primary care clinics, which serve as feeders, and freestanding emergency rooms.
If you’re a doctor, you’ll continue to feel pressure to adapt to new payment models that, unlike the old fee-for-service system, are outcome-based and focus on preventive care
For employers, they can expect health insurance costs to rise. Health care costs rose 8% for self-insured companies last year, the biggest jump in a decade.
Read the full story from the latest edition of Business Report, which includes more details about what to expect this year when it comes to health care, whether you’re an employer, a physician or a hospital.
