Looking Ahead to Healthcare Trends in 2020 & Beyond

All sectors and markets around the world—especially the healthcare industry—are reeling from the impact of COVID-19. The global community's response and ability to control the spread of the virus will underscore all healthcare-related news for the foreseeable future. In what could potentially be a decade-defining moment, the American healthcare system looks to manage an overwhelming strain on their facilities, resources and supplies amid challenges that were already complex before the outbreak.

These challenges highlight the growing importance technology plays in the daily operations of hospitals, insurance companies and the lives of patients. In 2020 and beyond, five key pressures will drive the need for, and proliferation of, greater digitalization across the entire healthcare ecosystem:

1. Addressing the transmission of COVID-19 and patient treatment will require the need to share and analyze real-time data now more than ever before to understand patterns, risk stratification and the impact of public health decisions.
2. The country will feel the impact of regulatory actions and a potential presidential administration change as a result of the U.S. 2020 presidential election. 
3. Competition in the market will continue to grow, propelling existing incumbents to innovate to maintain viability.
4. These new competitors will put pressure on traditional healthcare companies to lower costs.
5. Patients will continue to voice demands for personalization and convenience.

The acceleration of digital transformation in healthcare is hugely consequential. As the healthcare system addresses the defining moment of a generation and patients look to innovative digital tools offered by new entrants to the market, all members of the healthcare ecosystem need to be agile – whether in making needed technological investments, finding ways to mitigate costs or exploring partnerships to address the challenges ahead.

Download the whitepaper to learn more about how these trends can affect the future of healthcare.