Source: RSM US LLP. PBMares is a member of RSM US Alliance.
OUTLOOK | July 28, 2023
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
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 are 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/aboutus for more information regarding RSM US LLP and RSM International. The RSM(tm) brandmark is used under license by RSM US LLP. RSM US Alliance products and services are proprietary to RSM US LLP.
