Healthcare affordability continues to be one of the defining challenges facing the industry. In this episode of PwC's Next in Health, Glenn Hunzinger is joined by Thom Bales, Derek Skoog, and Philip Sclafani to discuss the findings from PwC's Behind the Numbers 2027 report and the forces driving medical cost trends toward 9% in 2027. From AI-enabled documentation and provider reimbursement to GLP-1 therapies, behavioral health, and payment integrity, the conversation explores what's contributing to rising costs—and where healthcare leaders can focus to improve affordability while continuing to advance innovation and patient care.
 
Discussion highlights:

• Medical cost trends approaching 9% and the forces driving healthcare inflation
• AI's growing influence on clinical documentation, payment integrity, and reimbursement
• Innovation's impact on affordability, from GLP-1 therapies to cell and gene therapies
• Strategies health plans, employers, and providers are using to improve affordability and reduce friction
• The evolving role of reimbursement, utilization management, and payment integrity in managing costs
• What rising medical costs mean for employers, consumers, and the future of healthcare

Speakers:

Glenn Hunzinger, US Health Industries Leader, PwC
Thom Bales, US Health Services Advisory Leader, PwC
Derek Skoog, Principal, Health Services, PwC
Philip Sclafani, Principal, Pharmaceutical and Life Sciences, PwC

For additional insights, check out our Behind the numbers 2027 report at https://www.pwc.com/us/en/industries/health-industries/library/behind-the-numbers.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Glenn Hunzinger, PwC's US Health Industries Leader, speaks with James Woods, PwC's US MedTech Leader, about the forces shaping MedTech dealmaking in 2026. Despite capital market pressures, supply chain challenges, and geopolitical uncertainty, companies continue to invest in innovation, portfolio transformation, and growth opportunities. The conversation explores where capital is flowing, how companies are reshaping portfolios, and what dealmakers should watch in the months ahead.

Discussion highlights:

• Continued MedTech deal activity despite capital market pressures and economic uncertainty
• Investment focused on cardiovascular technologies, robotics, connected care, and ecosystem-enabling solutions
• Portfolio transformation as a driver of growth, shareholder value, and strategic repositioning
• Connected care's role in improving efficiency, patient outcomes, and healthcare delivery
• Private equity activity across take-private transactions and portfolio carve-outs
• Strategic priorities for MedTech leaders balancing organic growth, M&A, and capital allocation

Speakers:
Glenn Hunzinger, US Health Industries Leader, PwC
James Woods, US MedTech Deals Leader, PwC

For additional insights on the medtech deals landscape, check out our Medtech: US Deals 2026 midyear outlook https://www.pwc.com/us/en/industries/health-industries/library/medtech-deals-outlook.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Glenn Hunzinger, PwC's US Health Industries Leader, speaks with Dan Farrell, PwC's Health Services Deals Leader, about the forces shaping health services dealmaking in 2026. Despite ongoing reimbursement uncertainty, rising medical costs, and operational pressures, investors continue to deploy capital into assets with strong fundamentals and clear value creation opportunities. The conversation explores where capital is flowing, how AI is influencing investment decisions, and what dealmakers should prioritize in the second half of the year. 

Discussion Highlights: 

• Resilient health services deal activity despite reimbursement uncertainty and rising medical costs
• Investor focus on operational resilience, earnings durability, and clear value creation pathways
• Continued momentum in physician medical groups and behavioral health organizations
• AI's growing role in diligence, operational performance, and value creation strategies
• Increased activity in portfolio optimization, carve-outs, and strategic capital allocation
• Key priorities for dealmakers navigating growth and value creation in the second half of 2026

Speakers:
Glenn Hunzinger, US Health Industries Leader, PwC
Dan Farrell, US Health services Deals leader, PwC

For additional insights on the health services deals landscape, check out our Health services: US Deals 2026 midyear outlook available now: https://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Glenn Hunzinger, PwC's US Health Industries Leader, speaks with Dan Farrell, PwC's Health Services Deals Leader, about the forces shaping health services dealmaking in 2026. Despite ongoing reimbursement uncertainty, rising medical costs, and operational pressures, investors continue to deploy capital into assets with strong fundamentals and clear value creation opportunities. The conversation explores where capital is flowing, how AI is influencing investment decisions, and what dealmakers should prioritize in the second half of the year. 

Discussion Highlights: 

• Resilient health services deal activity despite reimbursement uncertainty and rising medical costs
• Investor focus on operational resilience, earnings durability, and clear value creation pathways
• Continued momentum in physician medical groups and behavioral health organizations
• AI's growing role in diligence, operational performance, and value creation strategies
• Increased activity in portfolio optimization, carve-outs, and strategic capital allocation
• Key priorities for dealmakers navigating growth and value creation in the second half of 2026

Speakers:
Glenn Hunzinger, US Health Industries Leader, PwC
Roel Van den Akker, US Pharma and Life Science Deals Leader, PwC

For additional insights on the pharmaceutical and life sciences deals landscape, check out our Pharmaceutical and Life Sciences: US Deals 2026 Midyear Outlook report, available now: https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

As the 2026 midterm elections approach, healthcare leaders are asking whether this is just another policy cycle or a more pivotal moment in an increasingly complex and fragmented landscape. In this episode of PwC’s Next in Health, Glenn Hunzinger speaks with Kelly Griffin and Philip Sclafani about how shifting policy dynamics, persistent cost pressures, and rapid industry transformation are reshaping strategy across the healthcare ecosystem.
 
Discussion highlights:

• Why the 2026 midterms are less about sweeping reform and more about signaling the direction of the operating environment
• How affordability, transparency, and increased state-level action are shaping policy and driving industry change
• Why healthcare costs continue to rise and why traditional levers may not be enough to bend the cost curve
• How pharma, payers, and providers are adapting business models amid regulatory pressure and evolving market dynamics
• The growing role of AI, partnerships, and ecosystem convergence in accelerating transformation
• What healthcare leaders should prioritize, from policy intelligence and scenario planning to operating effectively in a more fragmented environment

 
 Speakers:
Glenn Hunzinger, US Health Industries Leader, PwC
Kelly Griffin, Director, Health Policy and Intelligence Institute, PwC
Philip Sclafani, Principal, Pharmaceutical and Life Sciences, PwC

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

With $50 billion flowing through the Rural Health Transformation Program (RHTP), healthcare leaders are questioning whether this marks short term stabilization or a real opportunity to redesign rural care. In this episode of PwC’s Next in Health, Glenn Hunzinger speaks with Thom Bales and Jill Olmstead about how states are deploying funds, how accountability is shaping execution, and what sustainable rural transformation could look like.
 

Discussion highlights:

• Why the RHTP differs from prior relief efforts, with funding tied to measurable outcomes and accountability
• How states are prioritizing workforce sustainability, value based care, and regional partnerships
• The role of technology, telehealth, shared data infrastructure, and AI in expanding access and modernizing rural delivery models
• What successful execution requires across governance, compliance, milestone tracking, and multi state coordination
• Why provider engagement with state strategies and ecosystem collaboration will be critical to success
• What durable rural transformation could look like over the next three to five years

Speakers: 
Glenn Hunzinger, US Health Industries Leader, PwC
Thom Bales, US Health Services Advisory Leader, PwC
Jill Olmstead, Principal, Health Services, PwC

You can access the full report here: https://www.pwc.com/us/en/industries/health-industries/health-policy-and-intelligence-institute/ruralhealth.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

From the JPM Healthcare Conference in San Francisco, Glenn Hunzinger, PwC’s Health Industries Leader, speaks with Jeremy Gelber, Partner at Vitruvian Partners, and Claire Love, Principal in PwC’s Deals Strategy practice to explore where healthcare investment momentum is building for 2026, how technology is reshaping value creation, and what investors are watching as care models, consumer behavior, and capital deployment continue to evolve.

Discussion highlights:

• Where technology and AI are delivering near term returns by improving efficiency, reducing administrative friction, and streamlining care delivery and payment
• Why women’s health is gaining attention as an underinvested growth opportunity, driven by unmet need, changing consumer expectations, and attractive long term economics
• How regulatory uncertainty is influencing investment decisions, increasing the importance of scenario planning and flexibility
• Where deal activity is expected to pick up in 2026 across healthcare subsectors, including healthcare IT, pharma services, medtech, diagnostics, and biotech
• How consumer trust, access to health data, and evolving behavior are shaping future care models and investment priorities

Speakers:

Glenn Hunzinger, US Health Industries Leader, PwC
Jeremy Gelber, Partner, Vitruvian Partners
Claire Love, Deals Strategy Principal, PwC

This episode is also available as a video on our website: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast/2026-healthcare-investment-trends.html 

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

From the JPM Healthcare Conference in San Francisco, Glenn Hunzinger brings together Sunil Patel of Merck and Sumit Khedekar of Citigroup for a conversation about where growth in the pharmaceutical and biotech industry is headed over the next five to ten years. They explore how scientific innovation, global sources of capital and talent, and a more forward looking approach to risk taking are shaping the future of healthcare, and why this moment may be pivotal for patients and the industry alike.

Discussion highlights:

• Scientific innovation and unmet patient need remain the primary drivers of long term growth across pharma and biotech
• Global sources of innovation, including China, are reshaping licensing strategies and competitive dynamics
• Companies are increasingly willing to take calculated risk earlier in the drug development lifecycle
• Value creation depends on entering assets at the right inflection point rather than waiting for fully de risked launches
• Payer dynamics, pricing pressure, and evolving consumer expectations are influencing how drugs are developed and commercialized

Speakers:

Glenn Hunzinger, US Health Industries Leader, PwC
Sunil Patel, SVP, head of corporate development and business development & licensing, Merck 
Sumit Khedekar, Global head of Healthcare Investment Banking, Citigroup

This episode is also available as a video on our website: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast/where-will-growth-emerge-across-healthcare.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Join Glenn Hunzinger and James Woods as they discuss what to expect for medtech dealmaking in 2026, including why buyers are poised to return, how technology is reshaping portfolios, and where investors are focusing to drive future growth.

Discussion highlights:

• Medtech M&A is expected to rebound in 2026 as market conditions improve and capital remains available
• Buyers are staying selective, prioritizing assets that support durable growth
• Technology and data enabled solutions are key drivers of deal activity
• Tuck in and bolt on acquisitions continue to dominate, with private equity playing an active role
• Surgical robotics, AI, cardiovascular, and diagnostics remain areas of strong interest

Speakers:
Glenn Hunzinger, US Health Industries Leader, PwC
James Woods, US Medtech Deals Leader, PwC

Linked materials:

• https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.html
• https://www.pwc.com/us/en/industries/health-industries/library/medtech-deals-outlook.html
• https://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.

Join Glenn Hunzinger and Dan Farrell as they discuss why 2026 could mark a rebound year for health services dealmaking—driven by higher-quality assets, improving market conditions, and the growing role of technology and AI. They explore how investors are rethinking value creation, from tech-enabled care models to carve-outs and IPOs.
 
Discussion highlights:

• Stronger earnings, cash flows, and tech-enabled platforms are drawing buyers back
• AI is shifting from a value enhancer to a key driver of margins and valuation
• Carve-outs remain active as health systems and corporates divest non-core assets
• Investors are targeting opportunities across specialties, home-based care, and AI-enabled platforms
• Reopening IPO markets and improved exit options are boosting confidence for 2026

 
Speakers:
Glenn Hunzinger, US Health Industries Leader, PwC
Dan Farrell, US Health Services Deals Leader, PwC

Linked materials:

• https://www.pwc.com/us/en/industries/health-industries/library/pharma-life-sciences-deals-outlook.html
• https://www.pwc.com/us/en/industries/health-industries/library/medtech-deals-outlook.html
• https://www.pwc.com/us/en/industries/health-industries/library/health-services-deals-outlook.html

For more information, please visit us at: https://www.pwc.com/us/en/industries/health-industries/health-research-institute/next-in-health-podcast.html.