🩺 Health Skills #5
HolonIQ is tracking reskilling and upskilling efforts essential for a rapidly evolving health sector. As medical innovation, digital transformation, and shifting demographics reshape the industry, workforce development is key to enhancing skills, improving efficiency, and ensuring quality care.
This week, the Government of Pennsylvania’s proposed budget allocates $10M to support rural hospitals and expands loan repayment programs to recruit healthcare professionals in underserved communities. The Green Valley Health Fair addressed healthcare shortages by offering free screenings and funding scholarships for aspiring medical students. The Northern NSW Local Health District announced $34.2M to secure approximately 120 dwellings for health workers in Tweed, Lismore, and Grafton, aiming to attract and retain healthcare professionals.
In upskilling and reskilling initiatives, Philips and Medtronic collaborated to train over 300 Indian clinicians in advanced imaging techniques for structural heart diseases, focusing on echocardiography and MRI. Florence Education plans to acquire Paier College, renaming it Florence University, to introduce nursing and healthcare programs. Eli Lilly plans to invest over $50 billion in US pharmaceutical manufacturing, constructing four new plants and creating thousands of jobs.
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Healthcare Labor Market Trends
⚕️ Pennsylvania's Governor proposes a budget increase to address healthcare workforce shortages. Governor Shapiro's proposed 2025-26 budget allocates $10M to support rural hospitals and expands loan repayment programs to recruit healthcare professionals in underserved communities.
💊 Green Valley Health Fair works to help build the healthcare workforce as shortages persist. The Fair in Arizona addressed healthcare workforce shortages by offering free health screenings and raising scholarship funds to support students pursuing medical careers.
🚑 New accommodation funding for health workers. The Northern NSW Local Health District announced $34.2M to secure approximately 120 dwellings for health workers in Tweed, Lismore, and Grafton, aiming to attract and retain healthcare professionals.
Women Make Up Majority of the Healthcare Workforce
💵 Globally, over 70% of the healthcare workforce is represented by females. However, women remain underrepresented in leadership positions within the healthcare sector.
📈 In the UK, women account for 60% of new medical students, a trend projected to persist globally. Similarly, in the US, women have outnumbered men in medical school enrollment for six consecutive years.
🧑⚕️ Specialties such as speech-language pathologists have the highest female representation in the US at 97.6%, followed by dental hygienists at 96.3% and dental assistants at 94.1%.
Upskilling/ Reskilling Intiatives
🧑⚕️ Philips and Medtronic have signed a Memorandum of Understanding. This initiative aims to train over 300 cardiologists and radiologists in advanced imaging techniques for structural heart diseases, focusing on multi-modality imaging like echocardiography and MRI.
🧑🎓 Florence Education plans to acquire Paier College to create Florence University. The acquisition, pending regulatory approval, will introduce new nursing and healthcare programs, apprenticeship pathways, and upskilling initiatives for current nurses. Florence University aims to address the global nursing shortage through innovative healthcare education.
💉 Eli Lilly invests over $50B on pharmaceuticals in the US. The 4 new manufacturing sites will produce active ingredients, reshore chemical synthesis, and strengthen the supply chain. This expansion will create 3,000+ high-skilled jobs and another 10,000 jobs in the project's construction, boosting local economies through spending, tax revenue, and infrastructure improvements.
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