Macro Trends in Healthcare and its Effect on Careers in

the Future

SADIE ASHBYRAYNELL DUVALL

CARLA HYNESSHERLINE NOEL

SARA RINK HCAD 600 9081

DR. FELENCIA MCGEENOVEMBER, 2016

UNIVERSITY OF MARYLAND UNIVERSITY COLLEGE

U.S. HEALTHCARE SYSTEM

“Health spending is expected to accelerate an average 5.7% for 2017 – 2019” - CMS

Analysis of key macro trends may provide two major benefits:

• Provides insight into the direction of future healthcare managers

• Predicts the future direction of the healthcare system as a whole

Healthcare, Both Now and in the Future

Healthcare spending to accelerate to 5.7% from 2017 to 2019 Both employed and unemployed individuals challenged to

acquire comprehensive and affordable healthcare insurance Today’s healthcare focuses on the treatment of illness, chronic

and acute In 2020, tomorrow’s healthcare focus will be on prevention Trending tomorrow: Patient-centered healthcare delivery and

services

5 Macro Trends in Healthcare

Economy Federal and state governments Personal lifestyles and behaviors Technology Biotechnology

U.S. Economy: Healthcare

Highest increases in health insurance deductibles to date occurred in 2016

Employees pay 5% more in premiums for employer-sponsored plans in 2016

Due to the rising cost of all areas of healthcare, 1 in 3 Americans of all ages forgo medical treatment

Healthcare administration accounts for 20-30% of healthcare expenditures

Physicians are affected by the rising increases in malpractice insurance premiums

Health Economics Manager

Works to understand the behaviors of individuals, healthcare providers, and the public

Develops cost effective decision-making processes for both the government and the private sector

Leverages the newest technologies to help off set healthcare costs to increase positive patient outcomes

Promotes total health Global and domestic positions available with more opportunities in the future  Job outlook for health economists is excellent right now.  Investigate the consumption of healthcare resources and analyzes healthcare

subfields

Federal and State Policies-Medicaid and Medicare

MedicaidGovernment insurance program for persons of all ages whose income is insufficient to pay for health careIn 2014, Medicaid expenditures totaled more then $496.6 billion dollars for patient care servicesLong-term care for the aging and disabled accounted for 25% of Medicaid dollars

FraudBillions of dollars wasted each year in healthcare fraud-when healthcare fraud takes place, it takes away from vital funds used for those who really need it

MedicareFederal government insurance program for anyone who is age 65 or over Includes part A (hospital insurance), Part B (medical insurance), Part C (medicare advantage plans), and Part D (prescription drug coverageMedicare spending is projected to increase from $523 billion in 2010 to just over $1 trillion by 2022

Medicaid Manager

Monitors insurance claims Ensures that eligible individuals apply

for MedicaidMonitors provider credentialing

Personal Lifestyles & Behaviors

Average American is unhealthy Unhealthy eating & inactivity are major contributing factors Society is facing an obesity epidemic Obesity is major precursor to prevalent diseases: hypertension,

diabetes, heart attacks, stroke Need for behavior modifications and other tools to help people Trends: worksite wellness, smoking cessation, preventative health

Health & Wellness Careers

Health Educators: Bureau of Labor Statistics (BLS) projects 13 percent growth from 2014 to 2024, faster than the average for all occupations. Growth will be driven by efforts to improve health outcomes and to reduce healthcare costs by teaching people healthy habits and behaviors and explaining how to use available healthcare services.

Exercise Physiologist: Bureau of Labor Statistics (BLS) projects 11 percent growth from 2014 to 2024, faster than the average for all occupations. Demand may rise as hospitals emphasize exercise and preventive care as part of their treatment and long-term rehabilitation from chronic diseases, such as cardiovascular and pulmonary diseases.

https://youtu.be/iI7Zj22nFm8

Technology

The future of healthcare is in your Smartphone. Mobile devices with Android and Apple operating systems are

becoming more popular than in years past as healthcare moves to Telehealth in the future.

With the future brings on how care will be rendered. Virtual care in a virtual office allows providers to communicate with patients without the patient actually going to the doctor’s office.

Technology Trends in Healthcare

Healthcare Mobile Developer Health Informatics ManagerClinical Solution AnalystHealthcare Consultants

Biotechnology

Technology based on biology Harnesses cellular and biomolecular

processes Uses living organisms to solve problems Technologies and products that help improve

our lives Technologies to combat debilitating and rare

diseases

Manager, Biomedical Engineer

Applies engineering principles to medical and biological problems

Finds ways to increase patient care and effectiveness – Median Pay: $86,960 – Number of Jobs: 19,400 – Job Outlook: 27% growth

SUMMARY

Healthcare expenditures are currently in the billions of dollars and are expected to increase due to issues such as healthcare fraud and high administrative costs

Personal and lifestyles choices contribute to the obesity epidemic and create a less health America

Healthcare is trending towards disease prevention and improved patient outcomes

Trends in healthcare include healthcare economics, and the use of technology and biotechnology to promote wellness and combat diseases

Trends in healthcare create increases in healthcare management career opportunities

References

BIO. (n.d.). What is Biotechnology? Retrieved November 20, 2016, from https://www.bio.org/what-biotechnology

Braverman, B. (January 2016) 10 Healthcare Trends That Will Affect You in 2016. The Fiscal Times. Retrieved from http://www.thefiscaltimes.com/2016/01/04/10-Healthcare-Trends-Will- Affect-You-2016

CMS. (n.d.). Long-Term Services and Supports. Retrieved November 12, 2016, from https://www.medicaid.gov/medicaid/ltss/index.html

Fraud and Abuse in Federal Programs. Retrieved November 12, 2016, from https://www.downsizinggovernment.org/fraud-and-abuse

HealthCare Recruiters International. (2014, September 22). Top 10 Biotech Jobs. Retrieved November 20, 2016, from http://www.hcrnetwork.com/top-10-biotech-jobs/

References

Johns Hopkins Bloomberg School of Public Health. (n.d.). What is Heath Economics? Retrieved November 20, 2016, from

http://www.jhsph.edu/departments/international-health/global-health- masters-degrees/master-of-health-science-in-health-economics/what-is- health-economics.html

Lytton, C., (2015, August 7). This Mirror Can Detect Disease, Retrieved November 16, 2016. Retrieved from http://www.thedailybeast.com/articles/2015/08/07/this-mirror-can-detect- disease.html

Naylor, M. D., Kurtzman, E. T., Miller, E. A., Nadash, P., & Fitzgerald, P. (2015). An Assessment of State-Led Reform of Long-Term Services and Supports. Journal of Health Politics, Policy and Law, 40(3), 531-574. doi:10.1215/03616878-2888460

Trivedi, A. (2016, February) Causes of High Health Care Costs. Merck Manuals. Retrieved from http://www.merckmanuals.com/professional/special-subjects/financial-issues-in-health-care/causes-of-high-health-care-costs/