[January 31, 2024]

2023 in Review: Healthcare Triumphs and the Top Five Trends Shaping Healthcare in 2024

Bamboo Health, the leader in Real-Time Care Intelligence™, today announced the release of the company's 2023 Annual Impact Report, outlining the transformative achievements of top healthcare organizations and introducing five key healthcare trends expected in 2024.

In 2023, Bamboo Health impacted 1 billion patient encounters, involving 2,500 hospitals, 8,000 post-acute facilities, 25,000 pharmacies, 32 health plans, 50 state governments and 1 million providers. Jeff Smith, Bamboo Health's CEO, credited the company's success to its focus on integrating the entire spectrum of patient health needs.

"Our aim in partnering with customers is to connect individuals to care for physical wellbeing while also addressing their behavioral and social health needs. It is critical to address whole person health," said Smith. "I am immensely proud of the results that our customers and Bamboo team members have delivered across the country. Looking ahead at the key 2024 healthcare trends, our customers and the communities that they serve will be well positioned by integrating physical and behavioral healthcare during pivotal moments."

Key customer successes highlighted in the report include:

1. Massachusetts League of Community Health Centers (Mass League): Utilizing Bamboo Health's Pings, Mass League reduced 30-day ED readmissions by 47% and increased follow-up visits for hospitalized patients. This was achieved through improved care coordination and federal funding management.
2. UConn Health: By employing Bamboo Health's Rising Risk solution, UConn Health saw a 300% improvement in transitional care management, enhancing patient care quality and generating additional revenue.
3. Crisis Support Services of Nevada: Facing a mental health crisis, Nevada improved access to behavioral health services using Bamboo Health's OpenBeds® system. This significantly increased Nevada's ranking for mental healthcare access, improved referral processes and enhanced support for 988 callers.

The report also forecasts five key trends for 2024:

1. Intelligence Assistance (IA) Preceding Artificial ntelligence (AI): Shift towards IA, blending human intuition with machine learning, to enhance healthcare decision-making.
2. Right Care at the Right Time: Focus on outpatient care to alleviate ED burdens, especially in rural areas with high comorbidity rates.
3. Evolution of Value-Based Care: Anticipating innovations in value-based care, including expanded Medicaid access through Section 1115 Waivers and new behavioral health programs.
4. Social Determinants of Health (SDOH) Prioritization: State governments will emphasize SDOH in rural healthcare, integrating these factors into holistic care planning.
5. Flexibility with Telehealth and Physical Care: Post-pandemic trends show a demand for both telehealth and in-person care options, with organizations offering such flexibility likely to see improved patient satisfaction.

To learn more about Bamboo Health's 2023 successes and the anticipated trends for 2024, view the Annual Impact Report.

About Bamboo Health

Bamboo Health, the leader in Real-Time Care Intelligence™, delivers actionable insights on a patient's physical, behavioral and social health - empowering healthcare professionals to provide the right care at the right time for the right outcomes. Delivered through our Smart Signals™ network - the largest and most interoperable care collaboration community in the nation - our insights improve more than 1 billion patient encounters a year across more than 2,500 hospitals, 8,000 post-acute facilities, 25,000 pharmacies, 32 health plans, 50 state governments and 1 million acute and ambulatory providers. Connect with Bamboo Health on Twitter, LinkedIn and Facebook. Visit BambooHealth.com to learn more.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240131341796/en/

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