Industry Analysis & Industry Trends
The Health and Medical Insurance industry, which is made up of carriers of private, group and public health, medical, dental insurance, was characterized by slow growth five years ago as a result of reduced employer coverage and continued consumer deleveraging. However, consistent increases in healthcare expenditure and medical cost inflation, as well as a sharp decline in the uninsured rate, have driven industry growth in recent years. In the coming years, as the baby boomer generation ages, more people will need medical coverage and the retirement of baby boomers will particularly increase Medicare expenditure... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Health and Medical Insurance Industry is in the mature stage of its economic life cycle; this stage is characterized by a slowdown in technological development and wholehearted market acceptance of the industry's products and services. Industry value added (IVA), which measures an industry's contribution to the overall economy, is expected to decrease at an annualized 1.0% during the 10 years to 2021. In contrast, US GDP is projected to grow at an annualized 2.3% during the same period. Industry IVA is decreasing mainly due to significant drops in profit margins caused by healthcare reforms.
While there has been a substantial amount of industry-specific technology change over the five years to 2016, this has largely made administrative tasks more efficient... purchase to read more