2020 Business Trends

Goals

To provide 5-7 more 2020 mega business/economic trends for each of the following areas: Healthcare, Skilled nursing, Dental practices, Food & beverage, Franchises, Infrastructure, and Law practices. Trends will focus on business and economic impacts. For each trend, we will provide what the trend is, why it is considered a trend, and how businesses are expected to implement it in 2020.

To provide any financial data available that is expected in 2020 for each industry of: Healthcare, Skilled nursing, Dental practices, Food & beverage, Franchises, Infrastructure, and Law practices.

Early Findings

2020 Mega Business/Economic Trends:

Healthcare

  • An emerging trend in 2020 for the healthcare industry is anticipated to be "healthcare consumerism" where patients/consumers demand a retail-like buying experience for healthcare services and products. This “Retailization” of the healthcare industry will be largely driven by empowered patients, and the digitization of products, services, and commerce models will manifest the concept of a “Comparison Shopping” consumer mindset. Businesses will implement these new commerce models through telehealth, e-pharmacy, retail care, price transparency, D2C tests, and care at the point of the person.

Skilled Nursing

  • An ongoing trend in 2020 for the skilled nursing industry is Medicare Advantage becoming more and more widespread as states increasingly move to managed long-term supports and services. Skilled Nursing Facilities (SNF) will continue to respond by branching out into other service lines. Many businesses will also continue to advocate for diversification beyond standard SNF services and will implement this diversification through new lines of business and new opportunities.

Dental Practices

  • A continuing trend in 2020 for dental practices is the increasing development and use of 3D printing that is considered to be a potential "game changer" for new treatment methods, new forms of team work, and new business models. An entire spectrum of methods and applications are already implemented today by businesses, including the 3D printing of models of all kinds like implant masks, drilling templates, casted designs, impression trays, and splints.

Food and Beverage

  • An ongoing trend in 2020 for the food and beverage industry is the increasing consumer preference for products that are less sweet. A new driving factor for a consumer preference of less sweet food and beverages is the mandatory labeling of added sugar by the FDA on January 1st this year. As consumers read these labels, they will start demanding more products with lower sugar. Businesses are now required to implement mandatory labeling of added sugar on their products.


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