Healthcare is big business in the United States. (wladimir1804/stock.adobe.com) Healthcare is big business in the United States. (wladimir1804/stock.adobe.com)

The healthcare sector represents 18.3% of the U.S. economy, with each person spending an average of $12,900 each year on healthcare services.

Even as healthcare expenditures are projected to top $7 trillion by 2031, according to the Centers for Medicare & Medicaid Services, hospitals and healthcare providers are grappling with financial challenges driven by wage and benefits expenses and other factors, including the growing cost of litigation. In addition, an influx of private capital into the space is changing the risk landscape for providers.

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