Here’s How the Healthcare Industry is Evolving in 2019 and Beyond

The healthcare industry is undergoing large transformations that will continue through the coming years, due to several factors. Meanwhile, there’s huge growth expected for key positions across a variety of segments.

For example, according to a Staffing Industry Analysts report from earlier this year, the healthcare space is poised to see growth to 19 million people by 2026, which will be up by 19% from 2016. “This expected growth is faster than the projected growth across all US occupations of 7.4%,” according to the report.

Notably, there appears to be slower growth in hospital employment (just 7% projected from 2016 to 2026), but more jobs expected elsewhere within industry. “Faster growth is anticipated across other healthcare facility settings, resulting in a continued expected mix shift to the home healthcare and ambulatory healthcare settings,” according to the SIA report.

Interestingly, these changes come as the space contends with some big picture issues in terms of talent. According to a Deloitte report on trends in healthcare, “An aging workforce, rising demand for health care services, and moral and well-being concerns are driving shortages of skilled health care staff.”

But aging talent isn’t the only factor that’s working to transform the industry. There are also major technological development changing the way in which the industry will be making hires. More specifically, the Deloitte report states that there are numerous “dimensions” changing how the industry works, which include “automation, telehealth, and new staffing models.”

What jobs are expected to see more demand? Registered nurses are chief among them, according to the SIA report. While the “overall long-term nurse supply [appears] to be adequate,” there are some states within the U.S. that will see shortages, including California, Texas, New Jersey and South Carolina, according to projections. Meanwhile, “The Health Resources and Services Administration (HRSA) projects enough RN supply will enter the workforce to meet a 28% increase in nationwide demand for RNs by 2030.”

Additionally, there’s a physician shortage that’s expected to reach “between 42,600 and 121,300 by 2026,” according to the report. And that’s not all. The report breaks down expected job growth by healthcare setting and found that the following places will be hiring more in the coming days (ranked by percentage growth over the next few years):

  • Hospitals (55%)
  • Home healthcare services (48%)
  • Offices of physicians (43%)
  • Medical and diagnostics labs (41%)
  • Outpatient care centers (40%)

In sum, the healthcare industry is rapidly changing and is set to expand greatly in the next seven years. As various illnesses create a concern for public health and an increased need for jobs to help U.S. citizens stay healthy, there are numerous positions expected to see increasing demand in the coming years.

Meanwhile, an increased use of vaping by Americans has caused significant health issues. In fact, the Centers for Disease Control and Prevention recently announced that approximately 805 people in the U.S. have become sick due to a mysterious lung disease due to vaping, which has taken the lives of 13 people. “The early symptoms include coughing, shortness of breath or chest pain, nausea, vomiting, diarrhea, fatigue or abdominal pain,” according to CNBC.

According to the BBC, “On 13 September, both the US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) published their decisions to review the presence of N-nitrosodimethylamine (NDMA) in medicines containing the drug ranitidine.

The importance of increased hiring in the healthcare industry comes amid recent headlines that illustrate the importance of a vigilant workforce to combat issues in pharmaceuticals and the tobacco industry. For example, some generic drugs are being recalled due to links to cancer-causing agents, which will likely have a big effect on the drug companies that have been producing them.

Notably, this potentially large increase in healthcare hiring demands falls into line with huge projections for the industry over the next decade, according to Bureau of Labor Statistics data. “The report notes, “An aging population and labor force will contribute to changes expected over the coming decade including a continued decline in the labor force participation rate and continued growth in employment in healthcare and related industries and occupations.”