A recent survey found most healthcare CEOs identified "technological advances" as the top global trend that will transform their business most over the next five years, but they also have some concerns about the speed at which technology is advancing.
The following findings are from PwC's 17th Annual Global CEO Survey. This sector key findings report takes a closer look at the responses from healthcare industry CEOs, based on 81 interviews conducted in 28 countries between Sept. 9 and Dec. 6, 2013. When findings compare percents to the "total sample," that refers to the broader, multi-industry survey population: 1,344 CEOs and business leaders across 68 countries.
Here are five key findings from the survey.
• Most healthcare CEOs (86 percent) identified "technological advances" as the top global trend that will transform their business most over the next five years. Eighty-four percent of CEOs named demographic shifts, while 49 percent said a shift in global economic power would transform their business most.
• More than half of healthcare CEOs (57 percent) are worried about the speed at which technology is progressing and that it may slow down their business' growth. That's 10 percent more than the total sample.
• More than a third of CEOs have entered into a joint venture or strategic alliance in the past 12 months, compared to one third of the total sample. Further, 69 percent plan to do so in the coming 12 months, compared with 44 percent of the total sample.
• About one-third of healthcare CEOs believe their customer service (36 percent), marketing/brand management (31 percent) and sales (30 percent) are well-prepared to execute plans that capitalize on transformative global trends.
• Most healthcare CEOs plan to improve their ability to innovate (89 percent), plan to change their technology investments (93 percent) and explore better ways of using and managing big data (95 percent). But there is a big gap between where they are now and these plans: Only 25 percent have started or completed changes to make their companies more innovative, 33 percent have changed their technology investments and 36 percent have made headway in advancing their companies' relationships with big data.
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