17 Key Stats Shaping the Future of Work in Healthcare

By Lindsay Bennett, MBA, MPH

Last updated on Oct 8, 2024

As the healthcare industry continues to rapidly evolve, so does the way work is carried out within it. From advancements in technology to demographic shifts, several factors are transforming the future of healthcare delivery. These key statistics capture major trends and factors shaping the future of work in the industry.

1. 45% of All New U.S. Jobs Will be in the Healthcare Sector

The Bureau of Labor Statistics projects that the healthcare and social assistance sector will add 2.1 million jobs between 2022 and 2032, which represents 45 percent of all new job growth.

The healthcare sector is so significant that CMS anticipates that it will soon make up nearly 20 percent of the total U.S. gross domestic product (GDP)—the measure of the total output of goods and services in the economy.

2. 1 in 5 Americans Will be 65 or Older by 2030

According to the Census, by 2030, more than 1 in 5 Americans will be 65 years old or older. This trend has significant implications for the healthcare industry, including increasing demand for healthcare services, especially related to chronic conditions and long-term care.

This shift in demographics also impacts the supply of healthcare workers. The healthcare workforce will need to grow to meet new demand, especially in areas like nursing, geriatrics, and home health.

3. Telehealth Could Replace $250 Billion of Healthcare Services in the U.S.

McKinsey estimates that $250 billion of current U.S. healthcare spending could be virtualized, reducing cost.

Originally intended for rural health care, telehealth became more mainstream during the pandemic. In 2023, telehealth visits made up 17 percent of all patient visits, with one in five patients using it during the year. Provider and patient demand for telehealth options has been constrained to some extent by reimbursement and regulatory barriers, but cost benefits and convenience will continue to drive the shift to virtual care.

4. The U.S. Will Need 63,720 More RNs by 2030

In the U.S., HRSA expects a 63,720 RN shortage by 2030, with shortfalls varying significantly by state. This trend is driven in part by the large number of nurses reaching retirement age, as well as nursing school capacity constraints.

5. Home Health Aide and Personal Care Assistant Jobs Will Increase 22%

From now through 2034, the U.S. home health market is expected to grow at an annual rate (CAGR) of 9.1 percent per year, as the elderly population grows, and patients prefer to receive care in the comfort of their homes. As a result, home health aide and personal care assistant jobs will increase 22 percent by 2032.

Over 50% of Drug Development and Discovery Will Be Done with AI in 2030 — By 2030, over 50% of drugs will be discovered or developed by AI technologies.

6. Over Half of New Drugs Will Be Developed by AI

The use of AI is revolutionizing the pharmaceutical industry by accelerating the process of drug discovery and development. By 2030, it is expected that over half of drugs approved will be developed by AI.

This trend will have a significant impact on careers in the pharmaceutical industry. Bioinformatics specialists, computational biologists, AI engineers, and data scientists are just some of the roles in demand.

7. The Remote Patient Monitoring Market will Reach $16.9 Billion

Remote Patient Monitoring (RPM) allows providers to monitor patients’ physiological data such as weight, blood pressure, oxygen levels, and heart and neurological activity from afar—a technology that supports the home-based and virtual care trends.

RPM plays a key role in managing chronic conditions by supplying continuous biometric data, reducing the need for patients to make multiple trips to doctors’ offices. The RPM market is projected to reach $16.9 billion by 2030, and large tech companies will employ workers in RPM service lines. Here are 3 jobs in this growing niche:

Remote Patient Monitoring Specialists monitor data and alert providers to a deterioration in the patient’s condition or coordinate responses to medical alarms.
RPM Technical Support Specialists onboard patients and provide support for equipment.
RPM Technical Consultants help identify provider needs, facilitate sales, and coordinate deployment of RPM technology.

8. Demand for Behavioral Health Nurse Practitioners and Addictions Counselors Will Grow by 15%

The U.S. has seen an 18 percent increase in mental health visits since before the COVID-19 pandemic. The Bureau of Health Workforce’s Behavioral Health Workforce Projections include a 15 percent increase in demand for behavioral health nurse practitioners, as well as a 15 percent increase in demand for addictions counselors.

A few of the forces driving demand for behavioral health services include the effects of the pandemic, increasing need among young people, and substance abuse trends.

9. 100% of Medicare Beneficiaries Will Be on Value-based Care Payment Models

Value based care refers to the restructuring of reimbursement incentives from a fee-for-service model to one focused on managing the outcomes and cost of a population of patients.

CMS has a published goal to have 100 percent of Medicare beneficiaries in a value based plan by 2030, with similar aims for Medicaid.

With its focus on quality and cost, the value based care trend will add jobs related to data analytics, informatics, and quality reporting. VBC’s focus on prevention will shape interactions between clinicians and patients, for example adding more emphasis to wellness and health education.

10. The Wearable Healthcare Device Market Will Reach $186 Billion

The market for wearable healthcare devices is anticipated to reach $186.14 billion by 2030, with growth driven by increasing connectivity through 4G and 5G networks, smart phone apps, individual interest in health and fitness, and the focus on preventive health. New jobs in this area will emerge as a result.

Only 11% of Hospital Executives are Minorities (But 32% are Patients) — Minorities comprise nearly a third of hospital patients in the U.S., but only 11% of executive roles.

11. Only 11% of Hospital Executives Are Minorities

Studies have compared the percentage of racial and ethnic minorities in the healthcare workforce to the percentage of minorities within the general population, finding a distinct gap—minorities are significantly underrepresented among physicians, pharmacists, and healthcare executives.

Minorities comprise 32 percent of hospital patients, yet minorities only hold 11 percent of hospital executive positions. Increasing diversity in healthcare leadership will be essential to better address the needs of diverse patient populations.

12. The Regenerative Medicine Market Will Surpass $83.6 Billion

The regenerative medicine market is poised to surpass $83.6 billion by 2031.

Stem cell research and tissue engineering look promising for the repair and replacement of damaged tissues and organs, as well as the treatment of a wide range of chronic illnesses and injuries.

13. Remote Work Will Increase 25%

By 2030, remote digital jobs are expected to increase by 25 percent, per the World Economic Forum.

Higher paying jobs over $75,000 per year are more common among remote roles. Within the healthcare sector, finance managers, software developers, and other administrative roles often have the option to work remotely.

14. The Personalized Medicine Market Will Reach $922 Billion

Advances in genomics and data analytics allow more precise, targeted treatments tailored to individual patients. The personalized medicine market is expected to reach $922.72 billion by 2030, and will increase the need for medical scientists and other related roles.

15. Cybersecurity Jobs Will Grow 32%

15 billion medical claims go through Change Healthcare each year—the target of a June 2024 cyberattack that impacted 94 percent of U.S. hospitals.

Strengthening cybersecurity measures will be vital as healthcare organizations increasingly rely on digital systems. The US Bureau of Labor Statistics projects 32 percent growth in cybersecurity jobs between 2022 and 2032. Security Analysts earned a median salary of $122,000 in 2022, and cybersecurity represents 7 percent of many hospitals’ IT budgets.

By 2030, the Healthcare Blockchain Market Will Be Valued at $641 Million — The healthcare blockchain market is projected to be valued at $641 million by 2030, a nearly 10x increase from 2024 ($66.8 million).

16. The Healthcare Blockchain Market Will Reach $641 Million

The healthcare blockchain market will reach $641 million by 2035.

While data security is one of the main uses of blockchain technology in healthcare at the moment, other uses include credentialing, supply chain transparency, and the facilitation of health information exchange (HIE). Blockchain technology will increasingly impact a wide range of healthcare roles.

17. 30% of Hours Worked by U.S. Employees Could Be Replaced by AI

Beckers Health IT notes that up to 30 percent of the hours worked by U.S. employees could be replaced by AI by 2030. However, in the healthcare sector, growth in demand for healthcare services—and the related work hours—more than offsets job reductions from AI.

Revenue cycle activities, such as verifications, authorizations, coding and billing, are areas ripe for automation. AI is also used in predictive analytics, a key component of success in value-based care. AI algorithms may also be used in personalized medicine.

Summary

These 17 stats emphasize the profound effects of innovation and societal and population trends on the future of work in the healthcare industry. These changes impact not only provider-based jobs, but jobs in software companies, the pharmaceutical industry, and other outsourced services businesses.