December 13, 2023
The US health care industry is facing a number of challenges, including higher costs and a labor shortage that has persisted since the COVID-19 pandemic. Job openings in the industry are about 15% higher than before the pandemic, while an aging population points toward long-term growth in the demand for care. At the same time, different players in the industry are reexamining what roles they should play in patient care. EY-Parthenon Chief Economist Gregory Daco and EY Americas Health Leader H. Mallory Caldwell discuss ways that health care leaders can leverage data and technology, as well as strategic partnerships and M&A to ease their labor burden and control their costs without sacrificing patient care.
Key takeaways
- Health care is a labor-intensive industry, with a turnover rate that is likely to worsen and a usage rate that is likely to grow as both care providers and patients age.
- The health care industry has reached its moment for tech innovation to support operational productivity while letting providers focus more on patient care.
- It’s time to rethink the traditional boundaries of who plays what role in the health care continuum.
- Partnerships and M&A are also strategic options for health care leaders to consider.
Host and featured guest
Subscribe for the latest economic insights
You’ll receive monthly Executive Briefings and the most recent Macro Bites.
