Insights
We are proud to be named a West Coast Regional Leader for 2024
Health care industry outlook: Summer 2023
OUTLOOK | July 28, 2023
Authored by RSM US LLP
Health care trend #1: The power of generative AI
Unleashing the power of generative AI in health care
Many health care organizations are looking to generative AI tools for their powerful potential to solve labor issues while enhancing the consumer-centered experience.
Health care organizations turn to generative AI for labor solutions and consumer-centered experiences. Demand outpaces labor supply, and AI offers crucial solutions like imaging and disease prediction. Successful implementation requires collaboration and strong AI governance among leaders and the board.
Read more about generative AI trends in the health care industry
Health care trend #2: Patient data privacy
Safeguards around patient data are key to continuity of care
Safeguarding the integrity of patient information is key to mitigating potential issues in the care provided to consumers.
Ensuring patient information integrity is vital for optimal care. Data integrity enables accurate diagnosis, smooth transitions, and evidence-based decisions. Generative AI shows promise in enhancing data quality, but careful governance and validation are essential for reliability.
Read more about how health care companies need to safeguard patient data
Health care trend #3: Private equity
Private equity is finding ways to deploy capital in a volatile market
We may see increased interest in health care provider IPOs as the ecosystem consolidates and private equity sponsors look for returns.
Health care private equity investors face tough challenges: increased competition, higher interest rates, rising labor costs, and tighter credit conditions. Despite this, strong returns and ample dry powder led to a successful 2022.
Though the capital markets are hesitant, market vibrancy will return as investors gain clarity on the economic cycle and manage valuation expectations.
Read more about private equity trends in the health care industry
Let's Talk!
Call us at +1 213.873.1700, email us at solutions@vasquezcpa.com or fill out the form below and we'll contact you to discuss your specific situation.
This article was written by Michael Haas, Danny Schmidt, Matt Wolf and originally appeared on Jul 28, 2023.
2022 RSM US LLP. All rights reserved.
https://rsmus.com/insights/industries/health-care/health-care-outlook.html
RSM US Alliance provides its members with access to resources of RSM US LLP. RSM US Alliance member firms are separate and independent businesses and legal entities that are responsible for their own acts and omissions, and each is separate and independent from RSM US LLP. RSM US LLP is the U.S. member firm of RSM International, a global network of independent audit, tax, and consulting firms. Members of RSM US Alliance have access to RSM International resources through RSM US LLP but are not member firms of RSM International. Visit rsmus.com/about us for more information regarding RSM US LLP and RSM International. The RSM logo is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.
Vasquez & Company LLP is a proud member of the RSM US Alliance, a premier affiliation of independent accounting and consulting firms in the United States. RSM US Alliance provides our firm with access to resources of RSM US LLP, the leading provider of audit, tax and consulting services focused on the middle market. RSM US LLP is a licensed CPA firm and the U.S. member of RSM International, a global network of independent audit, tax and consulting firms with more than 43,000 people in over 120 countries.
Our membership in RSM US Alliance has elevated our capabilities in the marketplace, helping to differentiate our firm from the competition while allowing us to maintain our independence and entrepreneurial culture. We have access to a valuable peer network of like-sized firms as well as a broad range of tools, expertise and technical resources.
For more information on how Vasquez & Company LLP can assist you, please call +1 213.873.1700.
Subscribe to receive important updates from our Insights and Resources.