NOTE: This report was published in 2017 and the data on this page is reflective of that.

An Emerging Opportunity

Healthcare innovation is a key component of the Greater Phoenix economy, representing nearly 220,000 jobs and two of the top 10 private employers in the region. As a major metropolitan area with access to a large population, the region is an ideal place for large healthcare institutions to set up operations that serve the public. However, the healthcare innovation industry in the United States is at a critical point in its evolution. As healthcare costs grow, consumers and regulators are pushing for better outcomes. The upcoming transition to value-based care empowers patients as they require more control over their health. Health technology can provide the tools to increase the quality of care that patients receive. In order to capitalize on these trends, the region must invest in technology development and healthcare innovation, entrepreneurship and a talented workforce. By tackling some of the challenges that keep new and existing firms from growing in the region, Greater Phoenix can become a leader in innovative health technology, changing the way business is done while also making the world healthier.