2020 Global Healthcare Outlook.pdf

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company, its network of member firms, and related entities. Deloitte provides audit, consulting, financial advisory, risk management, tax, and related services to public and private clients. The company has a globally connected network of member firms in over 150 countries and territories, with more than 200,000 professionals committed to excellence.

The life sciences and health care industry group at Deloitte has over 12,000 professionals in more than 90 countries, providing integrated services to clients. Global health care spending is expected to slow down to 3.2% in 2019 but will rise at a CAGR of 5% from 2019-2023. Factors impacting health care spending include population growth, increased economic power, and expansion of public health care systems.

Key drivers impacting financial sustainability in health care include expanding and aging populations, chronic conditions, costly infrastructure, and rising labor costs. Stakeholders are responding by leveraging digital technologies, such as the Internet of Things and augmented/virtual reality, to make informed decisions.

Top issues in health care include financial operations, care model innovation, and digital transformation. Factors driving innovation in health care delivery include consumer demand, digital technologies, and the need for predictive and preventive care. Cybersecurity remains a challenge, with key areas to address including digital transformation, interoperability, and telemedicine security.

Stakeholders are dealing with these challenges by adopting value-based care, establishing universal health care systems, and investing in population health management. The future of work in health care is being shaped by technologies such as cloud computing, artificial intelligence, and blockchain. Data management is witnessing a new phase, focusing on extracting insights to support population health management and value-based care.