In good health: Reforms and growing demand have greatly benefited industry revenue

The Doctors industry in New York has benefited from expanded health insurance coverage and rising total health expenditure in the state. During the five-year period to 2017, total healthcare expenditure in New York grew nearly twice as fast as Gross Domestic Product (GDP). Furthermore, according to the Center for Workforce Studies, many of the fastest-growing occupations in the state are in the healthcare sector. Current trends are expected to accelerate revenue growth during the outlook period. Specifically, IBISWorld expects rising health insurance coverage and total health expenditure in New York to drive demand for physician services over the five years to 2022...read more.

Industry Statistics & Market Size
Revenue
$32bn
Annual Growth 12-17
2.1%
Forecast Growth 17-22
Profit
Employment
175,673
Businesses
36,859

Industry Threats & Opportunities

  • Rising health insurance coverage and total health expenditure in New York are expected to drive demand for physician services
  • With a larger insured population, operators were able to secure more reimbursements from both public and private insurers
  • Thanks to healthcare reform, more individuals are expected to attain coverage
  • Industry Report - Starting a New Business Chapter

    Barriers to entry in the Doctors industry are moderate. The most notable entry barriers come from educational requirements, residency review committees and regulation. In addition, operators must develop a critical mass of patients to be viable. Depending on the specialty and location, it can be difficult or take considerable time for new entrants to establish a referral base and relationships with other physicians, hospitals and the local community.Although several barriers exist to new entrants, the large number of small establishments indicates that barriers are not extreme. This may be due to low levels of fixed capital costs in the industry and the high demand for specialist doctors. The...purchase to read more.

    Additional Insights for the Doctors in New York Industry

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

  • Access to highly skilled workforce
  • Understanding government policies and their implications
  • Having a loyal customer base
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Number of adults aged 65 and older in New York in the Doctors in New York industry impact industry performance..

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    What's in this report

    What is the Doctors in New York Industry?

    This industry comprises establishments or health practitioners having the degree of M.D. (Doctor of Medicine) or D.O. (Doctor of Osteopathy) primarily engaged in the independent practice of general or specialized medicine (e.g. anesthesiology, oncology, ophthalmology, psychiatry) or surgery in New York. These practitioners operate private or group practices in their own offices (e.g., centers, clinics) or in the facilities of others, such as hospitals or HMO medical centers.

    Industry Products
  • Endocrine, nutritional and metabolic diseases and immunity disorders
  • Diseases of the nervous system and sense organs
  • Diseases of the respiratory system
  • Diseases of the digestive system
  • Diseases of the musculoskeletal system and connective tissue
  • Neoplasms (tumors)
  • Diseases of the circulatory system
  • All other patient care
  • Industry Activities
  • General medical practice
  • Specialized medical practice
  • Surgeons
  • 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 adults aged 65 and older in New York
  • Total health expenditure in New York
  • Number of births

  • Current Performance
  • Health reform drives demand
  • Growing labor force
  • Chart: Revenue Growth

  • Industry Outlook
  • Shifting to consolidation
  • Primary care shortage drives demand
  • Table: Doctors in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Doctors in New York Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Health & Welfare Funds
  • Optometrists
  • Physical Therapists
  • Home Care Providers
  • Hospitals
  • Psychiatric Hospitals
  • Nursing Care Facilities

  • Key Selling Industries
  • Diagnostic & Medical Laboratories
  • Glasses & Contact Lens Manufacturing
  • Hospitals
  • Medical Instrument & Supply Manufacturing
  • Medical Supplies Wholesaling
  • Offices of Physicians
  • Pharmaceutical & Medicine Manufacturing

  • Products & Services
  • Neoplasms (tumors)
  • Diseases of the circulatory system
  • Diseases of the musculoskeletal system and connective tissue
  • Diseases of the nervous system and sense organs
  • Diseases of the respiratory system
  • Diseases of the digestive system
  • All other patient care
  • Endocrine, nutritional and metabolic diseases and immunity disorders
  • Chart: Doctors in New York Industry Products and Services Segmentation

  • Major Markets
  • Private insurance
  • Out of pocket payments
  • Medicare
  • Medicaid
  • Other
  • Chart: Major Market Segmentation for the Doctors in New York Industry

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

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Doctors in New York Industry

  • Community Healthcare Network, Mount Sinai, Northwell Health, Physician-hospital arrangements,
  • Table: Community Healthcare Network - financial performance
  • Table: Mount Sinai - financial performance
  • Table: Northwell Health - financial performance
  • Table: Physician-hospital arrangements - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Doctors in New York 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 Doctors in New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Federal funding for medicare and medicaid (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Family Medicine
  • A specialty devoted to comprehensive healthcare; a form of primary care that provides continuing healthcare for the individual and family across all ages, sexes, diseases and parts of the body.
  • Health Insurance Exchange
  • A set of state-regulated and standardized healthcare plans from which individuals may purchase health insurance eligible for federal subsidies.
  • Pediatrics
  • The branch of medicine concerned with the treatment of infants and children.
  • Physician Hospital Association (Pho)
  • A legal entity representing joint contractual service arrangements between hospitals or integrated delivery systems and physicians.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Doctors in New York can be used to help you understand the industry’s market size, growth potential and major companies. Five-year forecasts provide insight into the industry’s prospects, so you can make decisions with confidence. This information is perfectly suited to informing your business plans, pitch books, benchmarking and SWOT analysis.

    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 Doctors in New York:
    • 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 Doctors in New York 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 Doctors in New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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