Health Care Sector
Health care is a booming industry poised for dramatic growth and transformation. From health care providers and medical device manufacturers to pharmaceutical and biotechnology companies, every segment is on an upward climb. This is not a surprise given the massive demand for services and products. Health care spending has been steadily increasing annually and is on track to top US$10 trillion.
We understand that technology is also spurring growth—not to mention change—in the health care industry. Advances like smart devices for diabetes and asthma, wireless and biodegradable sensors, wearable technology, and telemedicine are addressing patient demands for personalized treatment. And it does not end there. Artificial intelligence, robotics, and blockchain are enhancing efficiency and improving outcomes.
Although the industry is ripe with opportunities, it also faces challenges. Regulation is rampant. Large scale global growth has crowded the space with competitors. The lines between retail, information technology, and health care industries have blurred bringing nontraditional providers into the market. Insurers are blocking reimbursement requests for treatments using new technologies. Cyber breaches have led to increased litigation.
Our lawyers do more than just grasp the broad trends of the health care industry. They understand the unique rules and standards of each sector. Whether you need counsel on litigation, regulation, or operations, they can care for your legal needs.