Macro bites: Beating health care industry challenges | EY

December 13, 2023

America The healthcare industry faces many challenges, including high costs and labor shortages that have persisted since the coronavirus pandemic. Job openings in the industry are up about 15% compared to pre-pandemic levels, and long-term demand for care is expected to increase as the population ages. At the same time, companies across the industry are reconsidering what role they should play in patient care. EY Parthenon Chief Economist Gregory Daco and EY Americas Health Leader H. Mallory Caldwell discuss how healthcare leaders can leverage data and technology, strategic partnerships and M&A without sacrificing patient care. Discuss ways to reduce labor burden and control costs.

Important points

• Healthcare is a labor-intensive industry, and turnover is likely to worsen and utilization to increase as both healthcare workers and patients age.
• The healthcare industry is at a time of technological innovation that supports operational productivity while allowing healthcare providers to focus more on patient care.
• The time has come to reconsider the traditional boundaries of who plays what role in the healthcare continuum.
• Partnerships and M&A are also strategic options for healthcare leaders to consider.
  

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