New Behavioral Health Business Outlook Report Shows Providers Ready to Expand Care Services and Revenue Opportunities Despite Staff-Driven Financial Strain
Results reveal a focus among providers on delivering value and accessibility, all while boosting services through telehealth
CHICAGO, Feb. 13, 2023 /PRNewswire-PRWeb/ -- Behavioral Health Business, an Aging Media publication, has released the results of its 2023 Behavioral Health Outlook Survey and Report, identifying the top challenges and opportunities for providers of behavioral, mental health and substance use services. Participants expressed an overall optimism around referral growth opportunities, even while nearly 80% indicated the coming financial strain of health care's staffing crisis.
To help solve that crisis, providers indicate a continued rise in their utilization of technology tools, starting with telehealth. They view a fairly even spread of growth opportunities in the industry for 2023, split between treating underserved populations, pursuing value-based relationships and expanding service offerings. Also evenly spread across online and internet searches, community referrals and physician offices.
Behavioral Health Business conducted the survey to learn how providers are navigating the difficult road to recovery and growth in a post-pandemic future. The results show the views of 150 professionals who identify as working for organizations that provide treatment for behavioral health, mental health and substance use disorders, painting a vivid picture of the industry-wide sentiment for the year to come.
In summary, respondents indicated:
- Growth opportunities abound in behavioral health — Providers expect to see the greatest growth in partnerships during 2023, citing online and internet searches (27% of respondents), community referrals (27%) and physician offices (22%) as the greatest anticipated referral growth sources.
- An overwhelming majority indicate staffing-related financial strain in 2023 — Seventy-seven percent of respondents indicated that staffing changes will also be the greatest area of financial strain in the behavioral health industry for 2023. More than half of respondents cited staffing as the industry's biggest current challenge.
- Providers are focused on value and accessibility while investors key in on mental health — Treating underserved populations (27% of respondents), pursuing value-based relationships (26%) and expanding service offerings (23%) are the top three opportunities in behavioral health for the year ahead, with mental health representing the most attractive investment target in behavioral health.
- Telehealth use for behavioral health care will rise in 2023 — When it comes to digital health care tools, more than half of survey participants are most excited about telehealth in 2023. Thirty-eight percent of respondents believe telehealth use in behavioral health will increase relative to 2022.
"Day by day, care providers are seeing the opportunity to get behavioral and mental health services to more Americans through a combination of technology deployment and community and hospital partnerships," said Behavioral Health Business Editor Laura Lovett. "The rising interest in investing in mental health care reveals just how vital this industry is today."
The survey was conducted online between November 14, 2022, and December 26, 2022. Access the full survey results here.
About Aging Media Network and Behavioral Health Business
Aging Media Network, an innovative publishing company based in Chicago, Illinois, is the publisher of Behavioral Health Business, Senior Housing News, Home Health Care News, Skilled Nursing News and Hospice News. Behavioral Health Business is the leading source for news and information covering the industries of behavioral and mental health care.
Media Contact
George Yedinak, Aging Media Network, 312.809.5755, [email protected]
SOURCE Aging Media Network
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