Health Net News Now
5 Key Healthcare Industry Trends to Watch in 2023
The healthcare industry is undergoing rapid transformation, driven by groundbreaking new technology and the need for more cost-effective care and improved health outcomes.
These changes and developments are expected to open up market opportunities for companies in the healthcare sector and other adjacent industries.
- Rise of Telemedicine and Virtual Healthcare Services. According to the recently published report Telemedicine Market – Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028) by Mordor Intelligence, the increasing use of telemedicine and virtual healthcare services is considered a major trend to watch. Due to the COVID-19 pandemic, telehealth became an essential tool for providing remote patient care, and it is expected to continue to grow in popularity, particularly in North America where advanced healthcare technologies are adopted at a high rate.
- Growth of AI and Machine Learning in Healthcare. Another trend to watch is the increasing use of artificial intelligence (AI) and machine learning (ML) in healthcare. AI and ML can be used to analyze patient data, detect patterns, and improve clinical decision-making. They can also be used to personalize treatment plans and improve patient outcomes, as outlined in this National Institutes of Health.gov article.
- Value-Based Care Gains Momentum. A shift towards value-based care was also highlighted by market analysts. In value-based care, healthcare providers are paid based on patient outcomes rather than the volume of services they provide.
- New Wearables and Remote Monitoring Devices. Wearable devices are useful across a wide range of settings for patients at home, in hospital wards, and nursing homes. "Many consumer-grade wearable device companies, such as Apple and Fitbit, are entering the medical-grade wearables market to meet increasing demand," according to Global Clinical-Grade Wearables Growth Opportunities by Frost & Sullivan.
- Importance of Healthcare Cybersecurity. The final trend is the pressing need for healthcare cybersecurity. With the increasing amount of patient data being stored and transmitted electronically, healthcare providers are facing growing security risks. Cyberattacks can compromise patient data, disrupt healthcare services, and damage a provider's reputation.
To prevent these types of security breaches, healthcare providers are investing in cybersecurity measures, which will boost healthcare cybersecurity market growth. HIMSS Guide: Cybersecurity in Healthcare.
What Employers Say About the Future of Employer-Sponsored Health Insurance
To explore the impact of health care reforms on employers and the conditions that might compel companies to cease providing health benefits, the Employee Benefit Research Institute (EBRI) conducted interviews with human resources executives, who held job titles such as director of benefits or vice president of employee benefits. EBRI focused their efforts on interviewing benefits executives at large firms; the smallest firm represented in the study employs 300 workers, while the largest employs more than 250,000.
The link between employers and health benefits has been tested in recent years. The ACA, private exchanges, ICHRAs, and the rising costs of providing health benefits were all threats that analysts and pundits alike had predicted would erode the relationship between employment and health benefits EBRI research shows that future policy and economic developments may pose yet another threat to the bond between employment and health benefits. This includes the permanent extension of ACA subsidies, the implementation of a public option, and continued health care cost increases that outpace inflation.
Yet the will for employers to provide health benefits to their workers remains strong, given the interviews EBRI conducted. And it seems unlikely that these forces would cause companies to abandon employer-sponsored insurance. Most interviewees expressed a strong skepticism that their firms would drop health benefits or direct their workers toward marketplace exchanges. Interviewees cited the strong labor market as a roadblock; with historically low unemployment rates at the time of the interviews, benefits executives felt that they could not diminish the generosity of their benefits packages without risking their competitiveness for talent. Broadly, companies continue to view their health benefits as a recruitment and retention tool; cutting these benefits would hamper their efforts to cultivate a strong workforce.
Despite changes in public policy, few benefits executives interviewed can imagine the conditions that would lead employers to forgo providing health benefits for their workers. According to the report, a sense of paternalism, the desire to use health benefits as a recruitment and retention tool, and the preference to retain control over plan design help explain why employers may be inclined to maintain the status quo.
Provider Directory Update
Health Net of California, Inc. (Health Net) has great news to share! Recently, more than 7,000 providers were updated to display in our Provider Directory and are now visible through Health Net's website provider search. As a result of a website audit we found there were providers that were not visible to our members.
Under California law, providers must respond to directory confirmation outreach efforts or we cannot list them in our directories. During the audit, we analyzed claims activity at all provider locations to verify they were still in practice, and were able to reactivate an additional 7,000 in our system.
This update offers Health Net members an expanded view of providers available within the Health Net product offerings.
Though this Directory update is a big step forward, Vice President of Product Performance, Sean Lemon, says there are still more improvements coming. "We continue to work to ensure that the Provider Directory is reliable, accurate and represents the robustness of our network options. There are additional efforts still in progress, and we hope to have more provider network news to share soon."
We're here for you!
For questions, reach out to your Health Net Account Executive.
Feel Healthier and Happier When You are a Part of Everyday Kindness
What kind of world would you like to live in? Probably a kind one! During Mental Health Month, remind yourself that kindness comes with benefits. When you give and receive kindness, these things tend to go with it:
- More energy
- Less pain and discomfort A longer lifespan
- A "pay it forward" attitude so good deeds ripple.
This month at Health Net, use these resources to help you spread kindness.
- Meditate with this short video on kindness.
- Read an article on how to spread kindness.
All the above information is to help you to gain strength and skills for yourself or a loved one. Please take advantage of the resources listed. You owe it to yourself and those around you.
$114M From Health Net and L.A. Care Gives Second Chances to Thousands of Unhoused in L.A. County
The best way to care for people's health is to consider their full scope of needs. In the case of the unhoused, Health Net joins forces with counties, community organizations and other partners to expand programs that address the complex physical, behavioral, social and long-term health needs of this population.
Example: In partnership with the Los Angeles County CEO Homeless Initiative, Health Net and L.A. Care Health Plan will invest $114 million (PDF) over multiple years in response to Los Angeles County's declared state of emergency due to the homelessness crisis. L.A. County is just the first county, and we expect to do versions of this in many of the other counties we serve.
The county will use the funds to secure housing in the private rental market to serve unhoused people with rental vouchers. This includes arrangement to:
- Lease entire apartment complexes
- Expand opportunities for shared housing
- Provide additional support to landlords
- and more.
In addition, leases could run three to 10 years, which gives landlords long-term funding.
"The funding for this investment is the result of California’s Housing and Homelessness Incentive Program (HHIP),” explains Health Net's Medi-Cal & Medicare President Martha Santana-Chin. "The state launched this with the help of matching funds from the American Rescue Plan Act. HHIP is a voluntary incentive program that allows Medi-Cal managed care plans (MCPs) to earn incentive funds when they make progress that address homelessness and housing insecurity as social determinants of health."
10 Quotes About Fatherhood From Famous Dads
Just to be fair, last month we gave you quotes from famous Moms. This month it's Dad's turn.
- "Having children is like living in a frat house – nobody sleeps, everything's broken, and there's a lot of throwing up." -Ray Romano
- "A 2-year-old is like having a blender, but you don't have the top for it." -Jerry Seinfeld
- "If anyone else deprived you of this much sleep, you'd have them up at The Hague for war crimes." -Tom Hardy
- "I think every kid thinks their dad is goofy. Even Johnny Depp's kid must be like, 'Oh my god, my dad with those freakin' scarves. This isn't a pirate ship; it's a Costco, dad.'" -Judd Apatow
- "My daughter is obsessed with Peppa Pig. This is my life. There's three women who voice the character of Peppa Pig. And she's a pig. Hello? And I'm so deep down into that crevasse right now that I have opinions on which actress is the best Peppa." -Alec Baldwin
- "It is so embarrassing how I went from a person who did not care about anyone's children. Then you have them, and you brag about the same stuff that you never cared about. And you tell people, ‘he's got four teeth,' like they care." -Seth Meyers
- "You have to be adaptable because they consistently keep changing. They'll do something that blows your mind and then they'll spit all their food on the carpet." -Neil Patrick Harris
- "I thought I'd never be that annoying person who shares pictures of his kids, but as soon as Winnie was born, I was showing iPhone snaps to a cab driver." -Jimmy Fallon
- "Everybody usually wants to be famous so they can rock nice jewelry and all that. Man, I already got a macaroni necklace. I got valuable stuff." -Dave Chappell
- "I used to say to my wife, Blake, ‘I would take a bullet for you.' And the second I looked into that baby's eyes, I knew in that exact moment that if we were ever under attack, I would use my wife as a human shield to protect that baby." -Ryan Reynolds