Ryan defined megatrends as large issues that affect broad groups of people, are factual and certain, and are backed by scientific data. The morning’s program covered five megatrends identified by PwC as shaping the world and driving markets and businesses.The role health care plays in each was threaded throughout the discussion as a critical component as each trend unfolds.
- Accelerating Urbanization: Urban population is expected to increase by 72% by 2050, creating massive implications for businesses and the need for $40 trillion in infrastructure expenses over the next 40 years.
- Climate Change and Resource Scarcity: With an expected population of 8.3 billion people by 2030, the world will need 50% more energy, 40% more water and 35% more food, creating major opportunities for alternative resources and companies who build resiliency in their supply chains.
- Demographic Shift: We are seeing and will continue to see massive increases in populations of emerging markets that will impact government and policy making. Leading companies need to examine how to reach the entire population, not only the current majority.
- Shift in Global Economic Policy: The shift back from Western power to Eastern suggests that the U.S. needs to adapt and collaborate with other countries rather than dominate. The opportunity for Eastern countries to diversify and invest in the U.S. is great.
- Technological Breakthroughs: The world’s challenges are intimidating, but technology is the answer. Industry sectors, including health care, are intersecting in response.
Ryan also offered advice to LHC professionals as they grow in their careers.
- Make sure you play in an area that you feel passionate about.
- 2.Fail. No one gets it right the first time. Learn from your failures.
- We all have different styles. Surround yourself with people who will hear your point of view.
The discussion with Tim Ryan is part of ongoing programming for the Council’s Leadership Health Care initiative, offering members insight from national industry leaders in an interactive setting. For more information about Leadership Health Care, visit www.leadershiphealthcare.com.
About Tim Ryan
Tim Ryan, Vice Chairman and Markets, Strategy and Stakeholders Leader at PwC, has responsibility for the firm’s strategy function and stakeholder relationships including investor relations, regulatory affairs, public policy, corporate responsibility and human capital.
Mr. Ryan has more than 25 years of diversified experience serving clients in the financial services industry in the U.S. and internationally. Prior to his current role, Mr. Ryan led PwC’s assurance practice, U.S. financial services practice and consumer finance group. He also served on the U.S. Board of Partners and Principals and the Board’s admissions committee, the management evaluation and compensation committee, and the clients committee.