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.
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.
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.
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This article was written by Michael Haas, Danny Schmidt, Matt Wolf and originally appeared on Jul 28, 2023.
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