The healthcare panorama in 2024 presents some fascinating challenges and alternatives, whether or not it’s with reference to generative AI or value-based care, based on executives at LRVHealth, a healthcare enterprise capital agency. 

These executives shared 5 predictions for 2024 with MedCity Information:

1. Generative AI will turn into a actuality: Generative AI will turn into greater than “simply hopes, goals and pilot applications” in 2024, based on Keith Figlioli, managing accomplice at LRVHealth. The healthcare business will begin to truly put AI into follow subsequent yr. Nonetheless, there will probably be some challenges, as effectively.

“We’ll see a minimum of one occasion round bias or misuse of generative AI in scientific supply,” Figlioli stated. “Most healthcare corporations aren’t making use of generative AI to private well being data (PHI), however this occasion will expose the truth that there is likely to be just a few who’re. It will pressure the business to look at the suitable scientific supply use instances for generative AI sooner or later and will set the motion again by just a few years.”

2. Medicare Benefit will proceed to develop regardless of scrutiny: Issues over the Medicare Benefit program will proceed to rise, however enrollment in these plans will doubtless nonetheless improve, Figlioli predicted. Extra well being programs will even kind their very own senior-focused scientific supply arm/community for Medicare Benefit sufferers. These will compete with organizations like Oak Road Well being and ChenMed.

3. Worth-based care will remodel: Worth-based care corporations — that are reimbursed primarily based on worth relatively than quantity — will “start planning for a world that depends much less on risk-adjusted topline enlargement, and extra on true medical value administration,” stated Ellen Herlacher, accomplice at LRVHealth.  

“Many will notice that there are limits to what will be achieved in a sophisticated main care setting, resulting in investments in referral administration and website of care optimization, in addition to the event of lower-cost healthcare workforces centered on entry, care navigation, and healthcare literacy,” Herlacher continued.

4. Stakeholders will create progressive cost fashions for high-cost, healing therapies: The healthcare system will face challenges in terms of paying for high-cost, “probably healing” drug therapies, stated Josh Flum, managing accomplice at LRVHealth. 

“As extra of those therapies are authorized, and consciousness round these medicine grows, payers and employers will probably be challenged to handle the tradeoffs between the excessive one-time prices and long-term advantages of those medicine underneath our present insurance coverage mannequin,” Flum added. “Consequently, 2024 will probably be a turning level within the improvement of recent progressive fashions – the place drug funds might occur in installments or be primarily based on reaching particular final result milestones – requiring collaboration throughout employers, insurers, and pharmaceutical producers.”

5. Digital well being corporations will want scalable fashions and robust management: The final yr was tough for the digital well being business, however it was extra resilient than anticipated, based on Tripp Peake, managing accomplice at LRVHealth. Within the yr forward, corporations with scalable enterprise fashions and glorious management would be the ones to excel and achieve capital.

“Others will wrestle and in the event that they get capital in any respect, it’ll be at important down rounds,” Peake stated. “Regardless of the fervor over generative AI within the funding neighborhood – or the temptation for startups to place it someplace of their decks to draw funding – it’s going to be a tough yr for many because the market normalizes.”

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