Dr. Delos Cosgrove, the CEO of Cleveland Clinic points out that healthcare is changing rapidly and with the cost pressures of new legislations the industry is headed toward consolidation.
Cosgrove points out that this is the same thing that happened to the airlines, supermarkets and bookstores. Hospitals are coming together to form systems, and systems are beginning to talk to systems.
As the second largest industry in the country, healthcare’s consolidation will affect the entire economy. Healthcare is the largest employer, requires a large chunk of federal budget, and the coming competitions between systems is going to change policy and the labor market.