Editor’s Letter

The State of the Industry

I am increasingly optimistic about our future. And by “our” I mean the U.S., the world, and the healthcare industry. We are now on the verge of having several vaccine options available, and probably in enormous quantity as well, and in an amazingly short span of time. There are several strategies for deciding on the demographics to whom to distribute doses. We may be in for a rough ride in the short term, but the horizon is looking brighter all the time. NEIL GREENBERG Meanwhile, there are many other positive signs for our industry here. Healthcare now employs one in every eight citizens of the U.S., and at an average salary of over $60,000, well above the national average of $47,000. This country also has the biggest healthcare contingent in the world, comprising 784,626 companies, the largest of which is McKesson, which will top $230B in revenues this year. Primary among the advances that are powering the industry is the avalanche of technological innovation, from telehealth to electronic health records to wearables that track various conditions and symptoms. This revolution is spurred by the Internet of Things (IoT), which will change our lives in unimagined ways over the next decade or so. Those wearables will be sending data to physicians and receiving their responses in real-time, saving lives much faster than is possible now. Technology will also drive workflow optimization, increasing the efficiency and productivity of medical professionals. And there is one more effect that is trending, and that gives me great hope. The pandemic crisis we have suffered through this year presented the most grueling challenge to healthcare in centuries. Professionals at hospitals, community healthcare workers, scientists and researchers, and the pharma, bio and medtech companies have all been tested as never before – and have risen to the task, as demonstrated by countless stories we read daily. In the next year, I think this will overcome the rather dismal image our industry has faced for years, and result in a new and growing respect for the dedication, knowledge and compassion of healthcare workers around the world. This recognition is long overdue and much deserved. Kudos to all who have proved the worth of what we bring to the world.

We try to keep up with all this, and bring you the people who have a grasp on change. We hope that it will be informative, and assist you in furthering the work you do every day. Let us know what topics will be most useful to you!

Neil Greenberg, Editor

To become an HS&M contributing author or provide feedback, please email me at ngreenberg@hsandm.com.

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