Remember your summer internship? Spending time at a big company, hoping to make connections and learn something. Your toughest decisions were whether to splurge on dry cleaning or intern night specials at the local watering holes. Surely you looked forward to Friday’s when various industry pros would come in and tell you about their professional journey over a free lunch.
Typically, these presentations involve motivational “keys to success,” like waking up at 5 a.m., developing a routine, and the importance of networking. The first few can be really exciting but, after a while, the presentations merge together into a blend of cliches and impossible to replicate career paths.
Recently, I was asked to present to a room of eager interns about my professional journey. I imagined these eager Ivy Leaguers had already sat through endless presentations from folks like myself. So rather than tell them about whatever keys to success I could think of, I decided to make my presentation a sales pitch about why there’s never been a better time to start a career in healthcare. A shameless recruiting pitch? Yes. But also a genuine feeling that we need the best and brightest minds in America working on solving one of the largest problems faced by our fellow citizens, and American businesses. And there’s never been a better time than right now!
Healthcare is one of the most important topics in American households. I suppose it’s always been that way, but there has been a major surge happening over the last 15 years that has led us to where we are today.
As healthcare costs have continued to skyrocket -- by 2026, healthcare spending is predicted to account for almost one-fifth of the U.S. economy, an all time high -- the intense focus on healthcare has made its way from individuals to our businesses and all the way up to our government. Very few topics or services have as large of an emotional or societal impact as healthcare. Our healthcare system is antiquated and the delivery model has created major cost, quality, and access problems for every key stakeholder.
The emergence of technology, the need for change, and the intense focus on healthcare have turned an otherwise “boring” industry into one of the most exciting places to launch a career.
Here were some of my findings and a few of the reasons I believe that right now is the best time in history to start a career in healthcare.
Healthcare touches everything.
Research, tech, artificial intelligence, data, devices, customer services, clinical services - the list goes on. In 2017 and 2018, over $30B of venture money went towards healthcare companies with endless value-props focused on making healthcare better.
Digital healthcare is booming.
New digital healthcare companies are popping up daily. The legacy healthcare players are thinking of ways to become more digitized. New, inventive healthcare delivery systems, payment models, shopping tools, etc. are being developed to change the way that we think about and interact with our health. The influx and emergence of digital health opens up opportunities for roles that were previously not necessarily thought of within this industry. Creative roles, software developers, and product management positions are all very common needs for healthcare companies now.
The government is paying attention.
Perhaps too much attention for some, but there is a lot of focus on healthcare as a leading issue to shape this country’s political landscape over the next few elections. In one way or another, change is coming to the way our government interacts with healthcare and health insurance in America. Having experience in healthcare related industries would serve well for folks eager to jump into public policy or public health as both are proving to be major topics of now and the future.
Innovation is desperately needed.
A friend of mine recently said that I“work in the most boring industry she can think of.” Obviously I disagree, but this also presents a huge opportunity for creative thinkers. New delivery methods lead to new marketing opportunities. More venture capital leads to more pressure for growth. New digital products lead to the need for better engagement in consumer solutions. All of this requires a fresh, new and creative perspectives on how to solve problems and position yourself - opening up big opportunities for thinkers and creatives.
There are so many polls showing public support of a new way to manage healthcare. Politics aside, the people want to see things changed. In order for change to happen, we will need new ways of thinking about solving problems.
So, are you ready to jump into the healthcare industry?! I thought so!
Kidding aside, what has historically been branded as a pretty dull sector is now flush with cash and a dire need for creative thinking. Improving healthcare is something almost every American agrees on. At TouchCare, we are excited to be working in this space every day; dealing with a whole new approach to healthcare. It comes with a lot of challenges, but they are well worth overcoming.
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