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Healthcare Industry Trends

Decent Essays
The healthcare industry is steadily advancing with exciting trends and resources for the future baby boomers of the world. Technology and the data revolution is helping to shape the future of healthcare. Electronic medical records for cost savings, accountable care organization (ACO) benefits to increase informed patients and checklists to reduce hospital errors are three current trends in the healthcare industry. These are current benefits that have to be managed and continued by healthcare administrators. The SOC code for the healthcare industry is 11-9111.00 for Medical and Health Services Managers. The NAICS code for Administration of Human Resource Programs (except Education, Public Health, and Veterans' Affairs Programs/ Medicare) is…show more content…
There is potential for errors in healthcare due to human error or system failures. In 2007, WHO began to improve the safety of surgery by developing a measurable checklist. The checklist included sign in, patient identification, checking for allergies, assessment of difficult airways and time out. Time out includes the confirmation of the patient, site, procedure and equipment sterility. Sign out confirms the procedure performed and the instrument and towel count. This article analyzed all the wrong site surgery events and estimated if the likelihood of a checklist would have prevented the incident. Results showed there were 133 wrong site incidents in the year of 2008 and the checklist would have prevented twenty-eight incidents. This would have increased patient safety and reduce medical errors in…show more content…
Accountable care organizations are an agreement among providers in the healthcare industry who agree to be accountable for the cost of certain patients, while the MSSP supplies patients with incentives for care. ACOs improve patient quality of care and bring costs down for Medicare patients. The MSSP took effect in 2011 and granted quality healthcare to patients at a lower cost. This ensures access to care and quality care for Medicare patients. ACOs are patient centered and determined to lower costs for patients. This article explains the impact on healthcare stakeholders like the patient who gains access to tests that provide prevention and early diagnosis, regular screenings and immunizations. The provider gains the opportunity to provide high quality healthcare and reduce cost for their
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