Between the many aspects of healthcare reform and the shortage of physicians and nurses in the United States, the healthcare industry is going through dramatic changes. Those changes will affect the long-term and day-to-day operations of hospitals, doctors’ offices, and medical companies, and they will undoubtedly impact financial well-being in some way. Find the tools you need to maintain the top-quality healthcare service to which your patients and customers have become accustomed, and look forward to increased profitability and continued success by discussing accounting, advisory, technology and managed services with a Sikich professional.
Healthcare Industry Overview
Companies in this industry provide a wide range of healthcare and social services through hospitals, doctors' offices, nursing homes, outpatient surgery center, and other facilities. Major US companies include Ascension Health, Fresenius, HCA, Kaiser Permanente, and Tenet Healthcare.
Worldwide, healthcare expenditures total about $5 trillion annually, according to Swiss Re. Total health spending (both public and private) as a portion of GDP ranges from about 6 percent in countries such as Estonia to more than 17 percent in the US, according to the Organization for Economic Co-Operation and Development.
The US healthcare sector includes more than 780,000 hospitals, doctors offices, emergency care units, nursing homes, and social services providers with combined annual revenue of about $2 trillion.