Industry Analysis & Industry Trends
The vital nature of the Primary Care Doctors industry's services has contributed to strong demand over the past five years, as has the aging of the population. The burden of chronic illnesses, which are disproportionately prevalent in older adults, has risen significantly due to this demographic shift. Most important to growth, however, has been the passage of the landmark Patient Protection and Affordable Care Act (PPACA) in 2010. While healthcare reform has increased the number of insured individuals, it has also exacerbated the shortage of primary care doctors. Despite growth, the number of primary care doctors has not expanded enough to keep pace with demand... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry in this industry are at a moderate level. It is not expensive to establish a practice in the industry, as evidenced by the large number of small establishments. In addition, there are limited benefits to scale economies (i.e. being a large practice) in this industry; therefore, new entrants are not significantly burdened by their cost structure in the early stages of developing the practice and do not have to compete with firms that dominate the industry.
However, there are educational and regulatory barriers. An individual who wants to become a primary care physician must complete lengthy and expensive educational requirements, internships and residencies... purchase to read more