Provider Burnout—Addressing the Latest Healthcare Crisis With Emerging Technology Solutions

Although concern about the well-being of healthcare providers has been a common topic for the past decade, the COVID-19 pandemic brought this issue to the forefront, as workplace stress, administrative burdens, and increased financial pressures all led to a massive reduction in job satisfaction for many providers.

This topic was particularly evident in an annual survey by The Harris Poll, which showed a record 93% of surveyed physicians indicated they feel burned out on a regular basis, and 56% said they might choose to leave the field or reduce their patient-facing work in short order.

In the most recent edition of his quarterly Healthcare Mosaic report, William Blair's Ryan Daniels, CFA, partner, and group head of healthcare technology and services, takes a deeper dive into why burnout is such a critical issue today, what's driving it, and potential ways to address it.

In the 34th edition of Healthcare Mosaic, Daniels further discusses:

• The growing prevalence of provider burnout in the U.S. healthcare market
• The impact of this issue on the near- and long-term supply of caregivers (and concomitantly care-capacity levels) in the U.S.
• How technology solutions-including artificial intelligence (AI)-can help address these issues
• The potential market opportunity for healthcare technology and services providers targeting the market
• An overview of select companies-in both the public and private markets-that we believe are well-positioned to benefit from these trends

Understanding the key drivers of burnout can help identify solutions to address the issue, Daniels explained. Given the current market, there may be a number of areas, ranging from staffing and training tools to automation and AI-driven solutions, that can help increase provider efficiency and address burnout.

"We view the current staffing crisis facing U.S. healthcare providers as a major issue," Daniels said, "one that could create both a tremendous amount of pressure and opportunities for a variety of healthcare services providers and technology companies over the coming years."

To request a copy of the full-length Healthcare Mosaic report, or for more information on the companies from Ryan Daniels' coverage list, please contact usor your William Blair representative.