Health Care Sector Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 10/16/2017
SIC Codes: 4119, 4522, 8011, 8021, 8031, 8041, 8042, 8043, 8044, 8049, 8051, 8052, 8059, 8062, 8063, 8069, 8071, 8082, 8092, 8093, 8099, 8322, 8331, 8351, 8361
NAICS Codes: 62
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Health Care Sector Industry Profile

Companies in this industry provide a wide range of health care and social services through hospitals, doctors' offices, nursing homes, outpatient surgery centers, and other facilities. Major companies include Ascension Health, HCA, Kaiser Permanente, and Tenet Healthcare (all based in the US), as well as Fresenius (Germany), National Hospital Organization (Japan), and Ramsay Health Care (Australia).

Worldwide, health care expenditures total about $7.2 trillion annually, or about 10% of global GDP, according to the World Health Organization. Total health spending (both public and private) as a portion of GDP among industrialized nations ranges from about 5% in countries such as Turkey to about 17% in the US, according to the Organisation for Economic Co-Operation and Development.

The US health care sector includes about 855,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of more than $2.4 trillion.

COMPETITIVE LANDSCAPE

Health care reform efforts in the US and other developed countries are changing how providers are reimbursed for care. More attention is being focused on rewarding or penalizing institutions based on efficiency standards and the quality of care delivered. Demand for health care services is generally driven by demographics, injury and illness rates, and advances in medical care and technology. The profitability of individual companies depends on efficient operations and, in the case of many nonprofit health care providers, obtaining grants and federal funds. Large companies have advantages in accessing ...

 
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