Industry Analysis & Industry Trends
During the five years to 2014, the Hospitals industry benefited from increases in service prices and extensions in insurance coverage. Demands for industry services softened somewhat during the recession, as individuals lost health insurance and disposable income. However, the economic environment only slightly dampened industry revenue. As the economy recovered and demand for industry services increased, high prices helped boost industry profitability. Additionally, hospitals are consolidating to combat competition from other providers and increased coverage will likely increase the number of patients that hospitals serve. In a similar manner, over the five years to 2019, the shortage of nurses will adversely affect the industry... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
Despite its long-standing presence in the US economy, the Hospitals industry is in the growth phase of its life cycle. Industry value added (IVA), which measures an industry's contribution to the overall economy, is forecast to grow an average 4.1% annually during the 10 years to 2019. This increase is faster than the projected average annual growth of US GDP (2.7%) during the same period, which is characteristic of an industry in its growth phase.
The aging US population will contribute to growing demand for hospital services, and the healthcare reform legislation of 2010 will increase the number of people with medical insurance thus, increasing the overall market for industry services... purchase to read more