|Last Quarterly Update:||1/9/2017|
|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|
|Industry Overview||Trends & Challenges||Industry Forecast|
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|Business Challenges||Financial Information||Glossary & Acronyms|
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 more than 840,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $2.3 trillion.
Demand for health care services is driven by demographics 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 the latest medical research, buying supplies, offering a wide range of services, and negotiating contracts with health insurers. Small institutions can compete successfully by serving a limited geographical area, offering specialized services, or building a local reputation for quality care. The US health care ...
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