The healthcare industry faces significant challenges, including rising costs, complexity, worker shortages, and high demand for chronic condition treatments, all of which hinder its ability to deliver effective care. Generative AI (GenAI) offers a transformative potential to alleviate these issues by enhancing productivity and streamlining workflows while addressing administrative burdens, improving patient engagement, supporting preventative care, and scaling multilingual support. GenAI can automate administrative tasks, thus freeing healthcare professionals from time-consuming paperwork and enabling faster, more accurate insurance processes, which currently consume a significant portion of healthcare spending. Its application in preventative care could reduce costly interventions by ensuring patient adherence to treatment plans and timely follow-ups, particularly for chronic diseases like diabetes. Additionally, the integration of large language models (LLMs) into patient care can improve access to information and support for non-English speakers and underserved populations, promoting health equity. In the claims reimbursement process, GenAI can minimize errors and streamline coding, reducing revenue losses due to billing mistakes. While not a cure-all, GenAI's capabilities in handling complex tasks and providing real-time insights can significantly bolster healthcare organizations' efforts to meet growing demands, provided that its implementation is secure and aligns with industry regulations.