Patients want better and more efficient experiences with their doctors. Hospitals want to be run more efficiently. Pharmacies want to dispense prescriptions quicker without mistakes and pharmacist burn-out. Physicians would like to enhance their patient experience by limiting wait time and providing medical treatment and counsel as efficiently as possible. Health care is looking for a makeover.

With inflation where it is, the cost of care is higher. The political climate is affecting who receives good affordable health care. Private equity and venture funds continue to hold on to their dry powder, which slows down acquisitions within health care. With these challenges, the marketplace is riddled with platforms looking to disrupt the health care industry. Health care providers and industry professionals must understand it is only a matter of time before patients and nimble health care companies look to disruptive startups and AI to become more efficient and provide a better patient/customer experience. The same applies for business-to-business companies. Processes are being cut in half and resources are being spent automating essential business tasks. Furthermore, the way products and services are delivered through business-to-business avenues is being digitalized and software is improving transaction time.

The old guard is slowly dissolving as new companies are disrupting the way things are done and AI is a big part of this. Although there are several health care professionals unsure about AI and its effect on the integrity of the industry, AI is coming at a rapid rate that most aren’t willing to accept. Moreover, several disruptive startups see problems within the health care industry that need addressing. These disruptors are finding ways to solve issues at a rate the industry has not seen before.  

The truth is no one is sure what the future holds for the health care industry, but it is certainly not going to stay the same. From the patient experience, to how drugs are dispensed, to how physicians process patient payments; things are changing at a rapid rate but for the better. As more disruptors break the industry’s status quo, there will likely be an uptick in health care private equity acquisitions and major health care companies acquiring these disruptive companies to gain a competitive advantage in the marketplace. Shareholders and major stakeholders are likely going to push their boards and CEOs to join the disruptors rather than get beat by them. As a result, valuations will likely skyrocket and funding will increase for health care disruptors. The future of health care may not be in 5-10 years, it may be now.