Now that we’re halfway through 2024, we’ve gained significant insights into the most pressing healthcare issues facing our industry and how they might shape the future. From regulatory hurdles to technological advancements, our sector is at a pivotal juncture, and understanding these dynamics will be crucial for all stakeholders involved.
Here are some of these key challenges and explore the strategies that could help guide us through the rest of the year.
Challenges on the Horizon: The Staffing Mandate
One topic looms large in 2024: the staffing mandate. Many, particularly those in skilled nursing facilities (SNFs), share this concern. While well-intentioned, the unfunded mandate presents a multifaceted problem. Not only is it lacking in evidence-based support for its efficacy, but it also poses significant financial strains. With an estimated need for 191,000 additional nurses and a price tag of around $6.8 billion, it’s a burden that operators nationwide cannot bear. And to compound the issue, the requisite nurses aren’t readily available; they’re not in the labour force in the United States.
Collaboration is key in facing this challenge. Working hand in hand with associations like AHCA (American Health Care Association), there’s a glimmer of optimism amidst the resistance. This approach could foster an environment where more practical solutions are considered, such as incremental staffing increases or alternative compliance strategies that could alleviate the immediate pressure on healthcare facilities.The collective effort of operators and associations may sway the decision-makers, but vigilance and hard work remain imperative.
The Role of AI and HIT
Amid these challenges lie opportunities for technological innovation. As I‘ve often emphasized, healthcare cannot advance solely on traditional pillars of infrastructure and human resources. Technology must play a pivotal role, as it does in every other industry. Investing in health information technology (HIT) is paramount, mirroring the initiatives seen in the acute care sector in recent years.
Artificial intelligence (AI) stands out as a tool for efficiency enhancement. From streamlining documentation processes to facilitating care coordination between SNFs and hospitals, AI holds promise in alleviating the burdens faced by healthcare professionals. Moreover, it fosters connections and interoperability, paving the way for smoother care transitions and reduced readmission rates. By incorporating AI-driven analytics and predictive models, we can further optimize healthcare delivery and resource allocation, leading to more targeted and effective patient care.
Value-Based Care and Alternative Payment Models
Indeed, technology forms the bedrock upon which healthcare policies and practices rest. Technology emerges as the linchpin as we discuss value-based care and alternative payment models. As we pivot towards these models, the focus intensifies on creating frameworks that not only reward outcomes but also emphasize the quality of care over the volume of services provided. This shift necessitates a robust integration of clinical data and real-time analytics, enabling healthcare providers to make informed decisions that align with the principles of value-based care. Patient engagement also becomes crucial as empowered patients are more likely to participate actively in their treatment plans. And as these alternative payment models evolve, regulatory bodies and insurers must also adapt to support these innovations by offering flexible payment structures that incentivize high-quality care.
By leveraging digital platforms, we can achieve improved care outcomes at comparable or lower costs, delivering tangible value to patients and stakeholders. This approach not only enhances clinical outcomes but also ensures financial sustainability in an increasingly cost-conscious healthcare environment.
Navigating Regulatory Waters
Amid the push for technological advancement, regulatory considerations loom large. Educating regulators and fostering trust are paramount endeavors. By assuming the role of a trusted resource and collaborator, we can guide policymakers toward informed decisions that benefit all parties involved, particularly the patients under our care.
It’s essential to watch healthcare-related legislation and initiatives closely, and share our concerns and insights with lawmakers as they shape their decisions. Providing them with the realities of what healthcare professionals face can help prevent the passing of unfunded mandates.
The volume and importance of state-level initiatives is increasing (and are at unprecedented levels). While acknowledging the importance of those initiatives, we must also ensure alignment with federal standards to avoid fragmentation. The ongoing development of frameworks like the Trusted Exchange Framework and Common Agreement (TEFCA) holds promise, signaling a future where seamless data exchange is standardized across the healthcare spectrum.
The Journey Ahead
These conversations are far from over. It’s an exciting and pivotal time, and we must remain committed to driving positive change. Together, with a proactive approach and collaborative spirit, we can overcome these challenges and harness the opportunities that lie ahead.
About Bill Charnetski
Bill Charnetski is the Executive Vice Presdident, Health System Solutions & Government Affairs at PointClickCare, driving the health‐tech ecosystem’s expansion while improving patient outcomes and system productivity. Bill believes in the power of integrated care coordination and digitized ecosystems of care to enhance the patient journey and improve transitions along the continuum.
Prior to joining PointClickCare, Bill served as Chief Health Innovation Strategist for the Government of Ontario, Canada. He drove behavioral change in the provincial health system to improve its innovation receptor capabilities and used the government’s massive health investment as an economic driver to scale Ontario-based health tech companies. Bill also worked with AstraZeneca, one of the world’s largest innovative biopharmaceutical companies. At AstraZeneca, most recently, he led global government affairs and public policy out of London, UK. In Canada for AZ, he led integrated health solutions, pricing, market access, reimbursement, communications, strategic stakeholder engagement, and legal affairs. He was also a corporate and privacy law partner at one of Canada’s leading law firms.