In recent times, healthcare has become an extremely important social and economic issue to be dealt with in the global arena. As the demographics has been changing in many parts of the world, healthcare has become a major factor in the industrial output and the overall growth of the economies everywhere. Healthcare has also become a major factor in the long-term security and the overall prosperity of nations. From Japan to the countries of Europe and the North Americas, the aging population and its health conditions, the cost of healthcare in those regions, and the availability of a viable workforce to meet the service needs have pushed the significance of healthcare to the top of the political, economic and the national security agenda. With the emergence of new technologies, including Artificial Intelligence, Data Analytics, Internet of Things and others, there is the promise that the challenges in healthcare will be overcome considerably and the countries everywhere will have their citizens being healthier, safer and prospering in thriving economic conditions. This paper presents an overview of a broader set of AI and Data Analytics skills needed for the health care industry in promoting innovation in medicine, predicting diseases, supporting drug discovery and development, improving patient care, delivery of services, operational efficiency of healthcare systems, and the means to control the cost of healthcare. Further, it presents a survey on the preparations of the current undergraduates of engineering programs to meet the skill demands of the healthcare industry. An online survey was developed and administered to the students of third and fourth year Bachelor of Technology (B.Tech) and Bachelor of Engineering (B.E) degree programs that belong to 4 different streams namely Computer Science and Engineering (CSE), Information Technology (IT), Electrical and Electronics Engineering (EEE) and Electronics and Communication Engineering (ECE). The statistical approach involved in the analysis of the survey data are Principal Component Analysis (PCA). The proposed approach with PCA yielded five components that are essential for an entry level employee to perform well in the health care industry. The five components are named as Artificial Intelligence and Data Analytics, Health Care Functions, Soft Skills, Math and Statistics, and Programming Skill