It became apparent in 2022 that the healthcare industry was likely to be affected by rampant inflation and other factors. This poor economic state of affairs has continued to bring changes to the healthcare industry in the United States.
Another aspect that has a marked effect on the healthcare field is the shortage of healthcare workers. It is important to stay on top of trends when you are studying for a healthcare qualification so that you can adapt to changes in the market. This allows you to position yourself for a career with adequate remuneration and job opportunities. Let us take a look at some of the key influences and what you can do to make the most of your qualifications.
Healthcare Profits
There are some shifts in which segments of the healthcare industry will experience growth and increased profit versus those that are anticipated to show a decline. The Compound Annual Growth Rate (CAGR) will increase overall from its 2021 figure of $654 billion to $790 billion by 2026 for healthcare in general. However, a dire shortfall of employees to fill critical posts and inflation, which remains high, will still be in play during 2023 before improving in 2024.
The healthcare areas that can expect the most growth are providers’ ambulatory surgery arenas, Medicare Advantage, and platforms inside specialty pharmacy and Health Systems Trust (HST), such as clinical support and patient engagement. On the other hand, the outlook for Medicaid payers and providers’ acute and post-acute care is negative. Such trends can affect salaries within these sectors, so if you are looking for top salaries, you will want to be in the high-profit sectors.
Affordability of Healthcare
The Covid pandemic ushered in a lot of uncertainty in the healthcare industry as it overwhelmed resources amid a calamitous shortage of healthcare workers to cope with the vastly increased burdens of caring for those afflicted by the virus.
The segments that will flourish in this environment need to take advantage of the one trillion dollars allocated for bringing about improvements. These changes need to be made to productivity, adapting portfolios, re-looking at how care is delivered, and redistributing scarce resources to where they can be the most effective. Unfortunately, the healthcare industry has been slow to make changes to its base practices while other industries have streamlined processes and used innovation to maximize their offerings and sustain profits.
Making the Most of Your Qualifications in the Healthcare Industry
When you decide to embark on a career in healthcare, you need to consider what qualification will make you the most flexible and enable you to take advantage of the healthcare sectors that are flourishing while avoiding getting stuck in a job with lower prospects. For a qualification that stays up-to-date with changes and happenings in the healthcare industry, you should look into what is offered at https://onlinemha.bc.edu/, as this allows you to adapt your course. You can select an online Master of Healthcare Administration degree and start working while you study. This will keep you current with the industry.
The healthcare industry has a good future, despite the setbacks caused by Covid and inflation. As a decision-maker, you can play a role in directing your particular sector to adapt to a constantly changing environment. Become a key player with the right qualifications and evolve with the healthcare industry.
Hi, I’m the Founder and Developer of Paramedics World, a blog truly devoted to Paramedics. I am a Medical Lab Tech, a Web Developer and Bibliophiliac. My greatest hobby is to teach and motivate other peoples to do whatever they wanna do in life.