People need medical treatment and medicine in good times and bad, but healthcare and life sciences companies are not immune to economic downturns. Our new global survey shows that more than three out of four senior decision-makers in the industry are bracing for a recession. Many hospital systems and other providers are already feeling intense margin pressure caused by inflation in labor and supplies. Pharma and medical device companies may be in stronger positions, but senior leaders are concerned about inflation and supply-chain issues.
Based on our research and experience serving clients across industries, we know that leading companies that take decisive action before a downturn—and find opportunities to invest in growth ahead of a recovery—come out on top. In this brief paper, we lay out the steps senior teams should be taking now to set the stage for outperformance.