Doctor's orders: While revenue has been on the rise, the industry is also undergoing rapid consolidation

Over the five years to 2018, the Hospitals industry in New Jersey has experienced steady growth. Demand for healthcare services, and therefore demand for hospitals, has grown in New Jersey over the past five years as the state's population has aged and the Patient Protection and Affordable Care Act (PPACA) has expanded the state's health insurance coverage. The average person incurs the greatest portion of their lifetime health expenditure after age 65, so as the number of adults aged 65 and older increases, so does demand for hospitals. Over the five years to 2018, the number of adults aged 65 and older in New Jersey is expected to increase an annualized 2.2%...purchase to read more.

Industry Statistics & Market Size
Revenue
$25bn
Annual Growth 13-18
2.4%
Forecast Growth 18-23
Profit
Employment
134,979
Businesses
71

Industry Threats & Opportunities

  • Hospitals in New Jersey have embraced consolidation as a way of growing negotiating power
  • Additional Insights for the Hospitals in New Jersey Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Hospitals in New Jersey Industry are

  • Access to highly skilled workforce
  • Proximity to key markets
  • Understanding government policies and their implications
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Number of people with private health insurance in New Jersey in the Hospitals in New Jersey industry impact industry performance..

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    What's in this report

    What is the Hospitals in New Jersey Industry?

    This industry includes operators licensed as general medical and surgical hospitals that provide surgical and nonsurgical diagnostic and medical treatment to inpatients. Hospitals maintain inpatient beds and usually provide other services, including outpatient, operating room and pharmacy services. The industry excludes psychiatric and other specialty hospitals.

    Industry Products
  • Inpatient care
  • Outpatient care
  • Emergency room care
  • Industry Activities
  • Inpatient care
  • Outpatient care
  • Anatomical pathology services
  • Diagnostic X-ray services
  • Clinical laboratory services
  • Operating room services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Number of people with private health insurance in New Jersey
  • Number of adults aged 65 and older in New Jersey
  • Per Capita Disposable Income in New Jersey

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Hospitals in New Jersey Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Life Insurance & Annuities
  • Health & Medical Insurance
  • Health & Welfare Funds
  • Consumers

  • Key Selling Industries
  • Brand Name Pharmaceutical Manufacturing
  • Diagnostic & Medical Laboratories
  • Food Service Contractors
  • Janitorial Services
  • Medical Instrument & Supply Manufacturing
  • Medical Supplies Wholesaling
  • Primary Care Doctors
  • Psychologists, Social Workers & Marriage Counselors
  • Specialist Doctors
  • Waste Collection Services

  • Products & Services
  • Inpatient care
  • Emergency room care
  • Outpatient care
  • Chart: Hospitals in New Jersey Industry Products and Services Segmentation

  • Major Markets
  • Private insurance
  • Government insurance
  • Non-patient care revenue
  • Other
  • Out-of-pocket payments
  • Chart: Major Market Segmentation for the Hospitals in New Jersey Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Hospitals in New Jersey

  • Basis of Competition
    Barriers to Entry
    RWJBarnabas Health, Atlantic Health System, Hackensack Meridian Health, AtlantiCare Health Systems Inc., Valley Health System,
  • Table: RWJBarnabas Health - financial performance
  • Table: Atlantic Health System - financial performance
  • Table: Hackensack Meridian Health - financial performance
  • Table: AtlantiCare Health Systems Inc. - financial performance
  • Table: Valley Health System - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Hospitals in New Jersey Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Hospitals in New Jersey Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Number of people with private health insurance in New Jersey (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Circulatory System
  • The system that moves blood throughout the body, including the heart, arteries, capillaries and veins.
  • Critical Access Hospital (Cah)
  • A small facility that gives limited outpatient and inpatient hospital services to people in rural areas. CAHs must meet Medicare requirements.
  • Disproportionate Share Hospital
  • Hospitals that treat a disproportionate number of uninsured patients; under Medicaid, these hospitals are entitled to federal compensation.
  • Electronic Health Record (Ehr)
  • The systematic collection and maintenance of electronic health information about an individual patient.
  • Inpatient
  • Admitted patients who stay overnight or longer.
  • Outpatient
  • A patient admitted to a hospital, clinic or associated facility for diagnosis or treatment and released the same day.
  • Teaching Hospital
  • Instruction for medical students combined with assistance to patients and often linked to a medical school.
  • Telemedicine
  • An application of clinical medicine whereby medical information is transferred through interactive audiovisual media for the purpose of consulting and remote medical procedures or examinations.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Industry Market Report on Hospitals in New Jersey is a comprehensive guide to market size and growth prospects. Ensure due diligence in your research with our strategic analysis of the factors influencing companies, including new product developments; economic, lifestyle and demographic influences; distribution and supply chain factors; and pricing issues.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Hospitals in New Jersey:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Hospitals in New Jersey market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Hospitals in New Jersey, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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