The growth of healthcare

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The growing healthcare industry demands a leadership skillset offered by a unique global executive program at the University of Toronto’s Rotman School of Management 

 

The healthcare industry is the largest and fastest growing sector worldwide. The sector represents more than 10% of GDP in the world’s most developed countries; the USA reporting at 18-20%. Further north, the healthcare and life sciences sector in Canada which is the country’s largest employer, is valued at $200 billion, and inevitably presents unique challenges as rapid growth and disruption continues. The Rotman School of Management at the University of Toronto (ranked #18 worldwide) has developed the Global Executive MBA for Healthcare and the Life Sciences (GEMBA-HLS), in response to the growing need for healthcare leadership, not just within Canada, but worldwide.

 

A report from global business consultants Frost & Sullivan predicts several key growth opportunities will bring healthcare and life sciences to the forefront in a post-covid world. The year 2022 has revealed, through the analysis of booming healthcare consumption, ongoing research, and expertise of leading providers of pharmaceutical, medical device and digital health solutions who predict global revenue, that the industry will reach $2.7 trillion by 2025. 

 

This exponential growth has increased the demand for talent in the sector, with a growing skill gap and shortage of leadership in healthcare professionals.  Working in healthcare now demands skillsets that go beyond providing patient care. Understanding business in the healthcare context is essential for career growth and organizational excellence, among other benefits. The Global Executive MBA for Healthcare and the Life Sciences at Rotman equips professionals with the leadership skills and business acumen needed at this turning point in the industry. The program is an 18-month, part-time MBA experience that has been designed for senior-level professionals who seek career advancement and the ability to make an impact within the sector.

 

The program includes in-person course delivery during 6 residential weeks in Toronto, San Francisco, London, Tel Aviv, and Singapore, allowing participants to gain a global perspective and examine best practices in both business and healthcare in these key locations. Between each module, students engage in self-paced virtual learning which helps facilitate flexibility for the demanding scheduling of work, study, and personal life.  

 

“The tailor-made leadership approach allows people working full-time to be active participants in the program, and the open-minded and diverse profile of the class creates a powerful forum for insightful discussion”, said Svetlin Zyapkov, MBA ’22, Principal Auditor, Allianz Global Corporate and Specialty, Germany.

 

We have seen the pandemic accelerate and uncover numerous health care trends and challenges, particularly regarding equity, the environment, and sustainability. Additionally, clinical and non-clinical innovation continues to be a priority for healthcare executives globally. These challenges will continue to be critical in 2023 and beyond, and require professionals who are capable, adaptive, highly skilled, and who are able to drive unique and innovative solutions. Rotman’s GEMBA-HLS executive students have an average of 14 years in the industry, representing healthcare providers, administrators, scientists, researchers, government, and policy leaders. Each year, students represent approximately 11 nationalities and have experience working in over 20 countries, allowing each cohort to build a strong network of experts across the globe. This fall, October 2023, the Rotman School of Management looks forward to welcoming its sixth cohort of future leaders in healthcare and the life sciences on the University of Toronto campus. 

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