The scale, scope and changing landscape of the healthcare industry can be hard to comprehend. The global healthcare market will reach $12 trillion by 2022. US national healthcare expenditure reached $4 trillion in 2020, accounts for nearly 17% of gross domestic product (GDP) and is more expensive than most countries. Switzerland was the second-highest ranking country, spending 12.2% of GDP. Most surprisingly, New Zealand and Australia devote only 9.3% of GDP and have similar health outcomes to the US.
A number of foundational shifts are arising from and being exacerbated by COVID-19’s spread. Examples include consumers’ increasing involvement in health care decision-making; the rapid adoption of virtual health and other digital innovations; the push for interoperable data and data analytics use; and unprecedented public-private collaborations in vaccine and therapeutics development. Amid these dynamics, governments, health care providers, payers, public health agencies, non-profits and others around the globe are being challenged to quickly pivot, adapt, and innovate.
To help make sense of this, we’re excited to have Bridget Hogan Cole, Executive Director at The Institute for High Quality Care, and Dr. Marianne Ryan, General Surgery Specialist and former Chief of Surgery for Kaiser Permanente, share their career stories and current perspectives on this dynamic industry.