FRAMINGHAM, MA – August 27, 2020 – Definitive Healthcare, the leading provider of data, intelligence, and analytics on the healthcare provider market today released results from its 2020 Healthcare Trends Survey. Amidst the COVID-19 landscape, Definitive Healthcare polled more than 2,300 healthcare leaders ranging from pharmaceutical, biotechnology, and medical device industries to healthcare IT, consulting, payer, provider organizations, and more to determine (1) which trends they felt will have the greatest impact on the healthcare industry in the next year and (2) in what areas telehealth will have the greatest staying power. Here are the results:
2020 Healthcare Trends
1. Loss of Revenue in Hospitals: At 36.5%, respondents saw loss of revenue in hospitals as the most crucial area of change in the year ahead. Many US hospitals have already seen revenues impacted due to delayed or reprioritized non-emergency medical procedures and elective surgeries.
2. Implications of Delayed Care: With about a quarter, 24.4%, of the votes, those surveyed saw the implications of delayed care as an important 2020 trend. Fear of the COVID-19 virus has caused many high risk and chronic disease patients to avoid preventative and critical care, which could result in serious health implications for patients.
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3. Increased Telehealth Usage: Another trend collected a quarter, 23.2%, of the votes, with respondents predicting increased usage of telehealth technologies. Already this year, telehealth adoption has increased by 4,000%, with the greatest amount of growth in the Northeast.
4. Decline in Commercial Insurance Enrollment: As a result of rising unemployment rates, many Americans lost health insurance coverage through an affected job. As 2020 continues, 10.3% of survey respondents said that they expect this to continue to be an area of impact.
5. Mounting Elective Surgery Backlog: While still important, only 5.6% of respondents saw the mounting elective surgery backlog as an important trend in the year ahead. During peak COVID-19 months, elective surgeries declined as much as 95%, and according to Definitive Healthcare data, cataract and knee-replacement surgeries will be the first to bounce back first as states begin to re-open.
"Definitive Healthcare's recent COVID-19 research studies revealed that 40% of organizations indicate that they are at risk of closure – particularly in smaller organizations," said Jason Krantz, CEO of Definitive Healthcare. "While major metropolitan hospitals have been hit with the highest volumes of coronavirus patients, rural hospitals had been struggling financially since long before the viral outbreak hit its stride. For these rural hospitals, COVID-19 is making an already bad situation even worse. Any amount of additional financial loss could put these vulnerable hospitals in a near-critical state."