IAC Insights: The Health Care Industry and its Leaders are not Prepared for the Future

February 27, 2019

Health impacts every company, organization and employee around the world, regardless of what sector they operate in. As a result, the health care industry’s future is one of the most important topics for the global business community.

To better understand the future of health care, and the challenges the industry faces, we surveyed a select group of 18 members of APCO’s International Advisory Council (IAC) and Health Advisory Board (HAB). The group was comprised of global chief medical officers, public health leaders, heads of communication of large health care companies, and former health policy officials.

The experts’ responses demonstrated a general lack of confidence in the health care industry’s readiness to face the future.

When asked how well the health care industry currently looks ahead, anticipates and adapts to disruption and change, the majority of IAC members (61%) said that the sector currently does not do so well. Further, half (50%) of the surveyed IAC members believed that today’s health care leaders are not prepared to manage the various challenges the future will present.

While the survey emphasized the clear need to better-prepare health leaders for tomorrow, our experts were split when asked to identify what will be the biggest issue facing the industry in the immediate future. Accelerated costs (44%), non-traditional participants (22%) and technology adaption (17%) were the most commonly selected answers.

Additionally, half (50%) of the IAC members saw medical devices and equipment manufacturers as the most-prepared segment of the health care industry to face the challenges of tomorrow. This segment ranked higher than service providers (22%), pharmaceuticals manufacturers (22%) and medical insurance providers (6%).

For more insights on the future of health care and to read additional analysis from APCO’s global team, click here.

APCO alumna Alex Lazorchak coauthored this post.

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