New research shows how quickly Population Health Management (PHM) is becoming mainstream. While many organizations are taking a measured approach through pilots and demonstration projects, others are more aggressive. Drivers for this include the baby boomer population entering the so-called "geriatric demographic,"and a realization from the business side of healthcare about the importance of PHM to financial performance and quality outcomes. The tide is turning, and the research summarized adds to the growing pile of proof points.
Transparency Market Research released the following findings earlier this month:
- The PHM market is expected to experience a 23.9 percent annual growth rate from 2015 to 2023. Growth drivers include:
- Rising demand expected from the country's aging population. With the baby boomers entering the geriatric demographic, social services and public healthcare spending are set to take on renewed significance. Since this demographic is prone to degenerative diseases as well as chronic diseases, they especially will benefit from a PHM approach.
- The increasing reliance on big data across the public health infrastructure will boost the U.S. PHM market. The digitization of the healthcare record, including data related to doctor visits, past health problems and prescriptions, will transform operations. And having this information in the cloud will drive even more rapid transformation.
The New England Journal of Medicine (NEJM) conducted a survey on care redesign and released the results at the end of March. Key findings included:
- 77 percent of respondents (clinician leaders and practitioners and U.S. executives) view PHM as essential for the future of healthcare. While the survey revealed some skepticism among clinicians, administrators and executives are more positive about the shift.
- One executive from a large non-profit community hospital in the Northeast said, "Population health management is key to enabling people to take control of their healthcare needs. As the number of hospitals shrink, and the population ages, there needs to be a mechanism in place by which providers and patients remain linked."
The 2015 Healthcare IT Spending Forecasting Report, released last month by HIMSS Analytics, concluded the following:
- Spending in the health IT market is shifting from large capital investments in electronic health records (EHRs) and associated hardware to software-as-a-service and cloud computing services-including PHM and engagement, clinical and business intelligence, and telemedicine solutions.
The data points in these recent research reports are encouraging. Although we're still just scratching the surface of what's possible, it's a strong sign that we're rapidly moving from pilots to permanence in PHM.
We also see transformation happening among our customers with CRM-powered Health360. Many are moving from successful pilots to enterprise implementations and realizing how a PHM solution can positively impact their organizations today and into the future.
Don't just take our word for it, see for yourself. Check out this video on how Dartmouth-Hitchcock is transforming healthcare delivery with its ImagineCare cloud-based solution and Health360.