As 2022 draws to an end, we're all looking ahead. Each of us wonders what 2023 will hold for us regarding health, family, friends, finances, and careers. At Nursa, we're individually looking at all of those things. Additionally, as a whole, we're looking at what we can expect or hope to see in the healthcare industry. Here's our list of 6 healthcare industry predictions for 2023.
1. Nurse Licensure Compact Participation will grow.
We recently did a two-part series on nurse licensure compact (NLC) updates. Over the last year, we saw increased participation in the compact, and we can place at least some responsibility for that directly on the shoulders of the pandemic. Because of the hotspot nature of the pandemic, many states, even without NLC adoption in place, instituted temporary measures to allow fluidity of clinician movement. Some states have seen those interim measures end or are preparing for them to complete and have decided to adopt NLC membership. Ohio will be the first to join the NLC in 2023 officially, but other states have pending legislation that may see action in the upcoming year.
2. Artificial Intelligence (AI) in the Healthcare Market will surpass $US 20 billion.
The research firm, Precedence Research, published a healthcare report that studied the adoption of AI in the healthcare sector. According to their account, the worldwide AI healthcare market will reach $US 187.95 billion by the year 2030, and in the year 2023, it will pass $US 20 billion alone, with almost 60% of the revenue belonging to North America. This market includes virtual assistants, robot-assisted medical procedures, machine learning, cybersecurity, dosage error reduction applications, clinical trials, wearables, and more.
3. Increase in Personalized Medicine
We'll likely see more in the year as healthcare focuses on providing better, personalized care. The push for patients to be seen as individuals instead of just another person with the same disease as others have led to advancements in personalized medicine or precision medicine. Precision medicine considers the patients' unique characteristics, including age, genetics, and risk factors. With the exponentially growing population of baby boomers seeking medical care, the amount of data to be analyzed and used for precision medicine is also developing. This will further support AI growth as experts use algorithms and AI to help process data and make predictions.
4. The Home Healthcare Market will surpass $US 380 billion.
The home healthcare market continues to grow as more seniors seek to remain in their homes. According to Precedence Research, the home healthcare market is expected to reach $US 961.12 billion by the year 2030, and in the year 2023 will likely reach $US 384 billion. Because of the pandemic, many skilled nursing facilities and retirement homes had to shut their doors to family and visitors to protect residents, making it a less attractive alternative to many. Furthermore, continued scrutiny and debates about the merits of Medicare Advantage and the cost of facility living make many families wary of the affordability of nursing home care.
5. Increased Attention on Clinician Burnout and Staff Retention
While industries across the board experienced what is now referred to as "The Great Resignation," the healthcare sector experienced a mass exodus of nurses due to the pandemic. Nursing staffing shortages have plagued the industry for years, but the issue is more alarming now than ever. In 2022, a report was released indicating the national hospital turnover rate stands at 25.9%, hospital RN vacancy stands are 17%, and over the last five years, hospitals saw, on average, over 100% staff turnover rate.
Healthcare industry news has reported on nurse burnout, and due to the state of the staffing crisis outlined in the report, we can expect to see strategies in place to address these issues.
6. Gig economy is growing worldwide, and the healthcare industry is turning to PRN staff to address staff shortages.
Another trend that experienced a significant growth spurt during the pandemic was the rise of the gig economy. Freelancers across industries sprouted up as people found a way to augment their income or transitioned to gig work full-time as a better way to maximize their earning potential and achieve a better work-life balance. The gig economy is expected to pass $US 455 billion in 2023.
Join the Gig Economy in 2023 by Downloading Nursa
At Nursa, our talent pool of clinicians is varied, as are their motivations for pursuing gig healthcare work. Medical professionals with other jobs can pick up per diem (PRN) shifts on the side when and where they want. Nursing students can earn money working PRN CNA shifts until they achieve their nursing licenses, while retired nurses or those burnt out from the stresses and rigors of full-time work keep their licenses active and pick up shifts here and there. Other clinicians like the variety of PRN shifts and work PRN jobs full-time. You can be part of this growing healthcare trend too.
When you download Nursa, you open the doors to a host of PRN jobs near you. Take control over your work life by selecting when and where you want to work. No more requesting vacation time or missing crucial personal life events. You're in charge of your work schedule with Nursa.
