Industry predictions for 2024 - How well did I do?

Towards the end of December 2024, I put together a collection of my predictions for where I thought our industry would go in 2024.

Now, as we head toward the end of 2024 I want to reflect and see how well I did 😬. If you didn't see my original post you can read it here 

Healthcare Private Practice Predictions for 2024

So how well did I do? 🟢 🟠 🔴

Here is a review of my predictions for 2024

Industry trends

1. Growing use of AI-based technology
   🟢 Highly accurate prediction
   AI adoption in healthcare has clearly surged, with significant investments in tools like diagnostic software and operational automation, along with a big uptake of consumer applications like ChatGPT or AI features in Canva etc so I think I got that one right 🟢

2. Taking better care of our people – following the burnout of COVID
   🟠 Reasonably accurate prediction
   I believe while the focus on team well-being has grown, along with the increase in society's concern for wellbeing, I think ongoing issues like understaffing remain a challenge for many practices, limiting the ability of some to focus on the wellbeing of team members including practice owners.🟠

3. Ongoing difficulties with recruitment and retention
   🟢 Highly accurate prediction
   The healthcare sector continues to struggle with unfilled vacancies and workforce shortages, due to a number of different factors, but the overarching pattern is a shortage of qualified and experienced staff validating my prediction entirely. 🟢

4. Increasing focus on preventative health
   🟠 Accurate prediction
   Whilst I believe there has been an increase in consumer focus on preventative health education and activities, I don't believe this has been reflected as much as I anticipated in the service offering within our industry. I think there is a lag between the changing of consumer focus on prevention and the offering of relevant services. Preventative healthcare has gained some momentum, with a focus on early diagnosis and personalised treatment, but it is still only an emerging focus in many practices.🟠

Patient consumer trends

1. Wanting things much more quickly – speed
   🟢 Highly accurate prediction
   The pace of life continues to speed up and with it patients increasingly expect faster access to and delivery of services. So the demand is there although difficulty with availability of appointments because of high patient numbers and staffing shortages, as well as the reluctance of some patients to access online resources and utelise telemedicine, has restricted many practices ability to provide fast access to care. 🟢

2. Expecting a personalised experience
   🟠 Partially accurate prediction
   I think as consumers we are becoming accustomed to personalised interactions with organisations because of the omnipresence of AI based adaptive services. Take Amazon's "other people who bought this also viewed this" type engagement. However I don't think patients are quite expecting that level of personalisation as yet in a healthcare setting - although I believe it will come. 🟠

3. Sustainability credentials of practices are increasingly important
   🔴 Not very accurate prediction
   While sustainability is a growing concern among some patients, I do not think the demand for sustainably focussed practices is anywhere as big as I thought it would be by the end of the year. As a result many practices are not feeling the need to integrate sustainability into their business model. 🔴

4. Taking ownership of their healthcare – not a passive consumer
   🟠 Partially accurate prediction
   Patients are definitely more proactive, using digital tools and resources to make "informed" although not always accurate, decisions about their health and healthcare services they use, though adoption rates vary by demographic. 🟠

Local marketing trends

1. Going all in on Google Business Profile as competition gets harder
   🟢 Highly accurate prediction
   I believe that with increased competition Google Business Profiles have become a cornerstone of effective local marketing strategies, helping practices and their websites stand out in competitive markets. 🟢

2. The need to invest in your website to improve SEO and the customer experience
   🟢 Highly accurate prediction
   2024 has been our business year yet with building new website for clients inside Practice Momentum. Alongside that website optimisation both on search engines and AI platforms has been widely recognised as essential for enhancing SEO and user experience. 🟢

3. The need to build a community around the practice
   🟠 Partially accurate prediction
   While building community is a valuable strategy, and some practices are seeing the benefit of activity in this area, not all practices have embraced it fully or seen significant impact from doing this yet. I feel this may be one for a few years down the line - I was a bit premature with this prediction. 🟠

4. You need to be focused on authentic short-form videos
   🟢 Highly accurate prediction
   Short-form video content has exploded this year with the rise of platforms like Tik-Tok, Instagram reels, and YouTube shorts. These short form videos have proven to be a powerful marketing tool for engaging and educating the audiences for many local bricks and mortar businesses. 🟢

My overall evaluation - not bad 😁

6 x 🟢

5 x 🟠

1 x 🔴

I think in the big scheme of things I did pretty well.
Some of these amber and red predictions I feel may still come to fruition further down the line. Time will tell.
But all in all, I think I did pretty well 😁

So what about 2025?

Watch this space . . . . . 

Until next time