Hospitals Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 10/9/2017
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 world has about 17,000 hospitals. Regions with the most hospital beds per 10,000 people include Europe, the Western Pacific, and the Americas, according to the World Health Organization.

The US hospitals industry has about 7,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $1.1 trillion. The industry doesn't include residential care facilities or outpatient care centers, which are covered in separate industry profiles.

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, and the ability to raise prices is limited.

In urban and suburban areas where ...

 
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