Scale Up Health Series: The Healthcare Talent Imperative

On March 4, 2025, HSI hosted the third seminar in its Scale Up Health series, which focused on the Healthcare Talent Imperative. The discussion featured leaders from the pharmaceutical (Novartis), medical technology (Philips), and executive search (Spencer Stuart) sectors. The primary focus was on talent strategies, career paths, and the evolving skills needed for success in the healthcare industry.  Topics included the impact of AI, international experience, valuable MBA coursework, and navigating the complexities of the healthcare ecosystem. The wide-ranging discussion covered five key ideas.

 1. The Evolving Healthcare Landscape and its Impact on Talent:

• The healthcare industry is undergoing a rapid transformation driven by factors such as the rise of AI, increasing costs, regulatory changes, and an aging population. This transformation necessitates a workforce that can navigate complexity, drive efficiency, and understand the intricacies of the healthcare system.
• One participant referenced Salesforce CEO Marc Benioff’s observation from January 2025: “From now on, CEOs will no longer lead all-human workforces."

2. Importance of Understanding the Healthcare System:

• A fundamental understanding of how the healthcare system operates, including financial flows, billing processes, and regulatory frameworks, is essential for career success. Experiencing the "point of care" and gaining exposure to different facets of the healthcare system, including payer, provider, and pharmaceutical, is highly valuable.

3. The Impact of AI on the Healthcare Workforce:

• AI is expected to become an increasingly integral part of the healthcare workforce, potentially automating many tasks and reducing the need for a larger human workforce in certain areas. The focus for talent will be on understanding how to effectively integrate and utilize AI to improve efficiency and patient care rather than solely on technical AI expertise.
• One of the panelists noted: "The ability to know what AI can do... if you can make an actual use case come to life where you are deploying AI... being able to show that you can do it is going to be critical."

4. Career Paths and Entry Points into Healthcare:

• Consulting: Remains a significant entry point, providing exposure to various healthcare companies and business models.
• Direct Roles: Opportunities exist across the pharmaceutical, medical technology, hospital, digital health, and non-profit sectors.
• Finance (e.g., Venture Capital): Provides a pathway to gain exposure to healthcare companies and understand their financial mechanics.
• Entrepreneurship: While a smaller percentage of Sloan graduates directly start healthcare companies, it remains an option for those with a strong vision and passion.
• Networking: Building relationships within the healthcare industry and with executive search firms is essential for career progression.

5. Essential Skills and Experiences for Aspiring Healthcare Professionals:

• Analytical and Problem-Solving Skills: The ability to analyze complex problems and develop efficient solutions is highly sought after, especially in addressing the inefficiencies within the healthcare system.
• Adaptability and Versatility: Given the dynamic nature of healthcare, the capacity to learn, adapt to new situations, and gain diverse experiences across different roles or functional areas is crucial.
• Soft Skills: Communication, collaboration, resilience, and the ability to navigate complex stakeholder landscapes are increasingly important, particularly in leadership roles.
• Humility and Curiosity: Approaching the healthcare industry with a willingness to learn and understand its unique challenges and complexities is essential, particularly for those transitioning from other sectors.
• Understanding Data and Automation: Leveraging data to enhance processes and recognizing the potential of automation, including AI, in healthcare operations is becoming increasingly relevant. It is equally important to understand when not to automate processes.
• International Experience: Exposure to international healthcare systems and global companies is increasingly valued in a globalized healthcare market.

The seminar concluded with a summary of advice for students interested in pursuing a career in healthcare. Indeed, taking relevant coursework, particularly in healthcare economics, is essential. Equally important are experiences outside the classroom. Students were advised to seek diverse experiences to build a versatile skill set, focus on developing soft skills, network effectively, and articulate their commitment and connection to the field. There is a significant need and opportunity in healthcare, the speakers noted; however, to be successful in this complex field, students need a diverse range of talents and stay up to date with the latest technological advances and their applications in healthcare.