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New Revenue Opportunities for 2009, 2010 and Beyond……

July 5, 2009
by Wayne Craige
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We would agree that the healthcare industry is facing some serious challenges, such as, rapidly increasing costs, lack of quality control, depleting level of care and revenue management. Nevertheless, despite – or perhaps because of – these challenges, today the healthcare industry presents significant opportunity and growth prospects.“It’s a continuous process to constantly evaluate our pipeline and make decisions based on high-priority, unmet medical needs with market growth potential.”
Ray Kerins, VP of WW communications, Pfizer

It is the end of the 2nd quarter of 2009 and the industry is showing significant growth opportunity for healthcare organization of all types. I see facilities are expanding their healthcare practices and building up their healthcare industry expertise. I also see economists, consultants, hospitals, physician offices and specialized care (Chronic, Indigent and Disease Management) firms nationwide looking to healthcare industry changes as a bright spot in an otherwise abysmal economic.

As healthcare professionals – in whatever domain - we know healthcare is a necessity, and as such providers ; life sciences (includes pharmaceuticals and medical devices); payers (health insurance and health plans); and government or public healthcare organizations, will continue to invest in operations and continue to seek advisory services, particularly as they lead to improved patient care, efficiencies and revenue growth.

Now that Obama administration focus on healthcare is becoming a sweet spot. The outlook for healthcare transformation and technology adoption nationwide is positive, particularly as compared to other industries. While major industries, such as financial services and manufacturing, are more troubled by the recession and have significantly cutbacks. Healthcare firms continue to recruit industry expertise, particularly clinical and scientific expertise, which is invaluable. Healthcare players are now more than ever optimistic about prospects in the healthcare market. In fact, more healthcare firms are focusing on or investing aggressively.

How many of us have watched the healthcare landscape becomes increasingly competitive as the months goes by. Is it because the Obama administration is more focus on healthcare issues than on defense? In comparison to previous administrations, do you see a significant shift to provide more for firms that serve the public sector than for defense contractors? Looking at what is happening today, IT adoption and investment is much stronger in healthcare. New revenue opportunities are here for the healthcare industry. Today, more facilities are launching specific initiatives within their practices to transform departments or all areas of their practices. I believe going forward, the most successful healthcare practice will be those with strong and integrated clinical operations, good source of finances, strong technology integration and strong regulatory capabilities – the opportunity is here!

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