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Delivering high-quality care to patients has never been more challenging than in today’s complex healthcare sector. A number of industries within healthcare, from patient-facing to supplies and support, have been forced to adapt to shifts in the market:
Patient satisfaction is a demand that’s been greatly focused on in recent years, which has naturally led to many changes across these industries. However, hindering this initiative are the rising costs of care, leaving healthcare organizations wondering how they can provide high-quality care with strained budgets.
In addition, regulatory and compliance concerns continue to be a prime directive among organizations. These include patient and staff safety issues, as well as data security issues.
As in any industry, data security is a high concern. But the impact of information security breaches, whether purposeful or accidental, could prove harmful to patients and disastrous for organizations. For patients, having their sensitive medical history and personal information stolen could lead to loss of privacy and identity theft. For organizations, it could mean loss of business and reputation.
The dire need for data security is especially true given the rising need to integrate technology into every part of the healthcare equation. Technology helps streamline processes and empower decision making, but it also opens the door to digital data breaches.
On another front, mergers of healthcare providers and insurers also offer a multitude of considerations—from determining how best to compete in the evolved market to human resource planning to redesigning processes.
Being prepared for these market pressures is essential to maintaining a competitive edge.
At Factum, we understand the complex needs of healthcare organizations like yours, having worked with many well-established companies in this space. And we have a number of honed capabilities that focus on ensuring you’re able to compete successfully and sustainably in your market.