Hospitals Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 3/29/2021
SIC Codes: 8062, 8063, 8069
NAICS Codes: 622
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 Hospitals Industry Profile

Companies in this industry provide medical, diagnostic, and treatment services to people on an inpatient and outpatient basis at specialized medical, surgery, emergency, and other health care facilities. Major companies include Community Health Systems (CHS), HCA Healthcare, and Tenet Healthcare (all based in the US), as well as Apollo Hospitals (India), Fraser Health (Canada), and Ramsay Health Care (Australia).

The number of hospitals in the world is projected to reach about 170,000 by 2025, according to Statista. Among countries by the Organization for Economic Cooperation and Development (OECD), South Korea, Japan, Australia, Finland, and France have the most hospitals per 1 million people.

Globally, a majority of hospitals are government owned. In the US, about 70% of US hospitals are nonprofits, affiliated with churches, charities, or local governments. The US industry is fragmented: the top 50 organizations generate about 30% of revenue.

COMPETITIVE LANDSCAPE

Hospitals are under extreme pressure to lower costs while improving quality of care. Government payers and insurers are nudging patients toward less-costly outpatient care, reducing the number of routine inpatient procedures conducted at hospitals. The trend is encouraged by advances in medical technologies that improve recovery times. As reimbursements shift toward pay-for-performance protocols and away from procedure-based payments, hospitals may be rewarded or penalized based on quality and efficiency standards, such as reducing repetitive ER visits and hospitalizations. Eliminating wasteful processes is essential, as operating margins are slim, ...

 
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