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Healthcare

Health Care Industry Market Research

Healthcare Industry:

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Introduction to the Health Care Industry

Health Expenditures and Services in the U.S.:

Health care costs continue to rise rapidly in the U.S. and throughout the developed world.  Health care costs continue to rise rapidly in the U.S. and throughout the developed world. Total U.S. health care expenditures were estimated to be $2.7 trillion in 2011, and are projected to soar to $3.6 trillion in 2016.

The health care market in the U.S. in 2011 was made up of hospital care (about $831.5 billion), physician and clinical services ($537.4 billion), prescription drugs ($276.6 billion), nursing home and home health ($221.9 billion), dental care ($105.5 billion) and other items totaling $787.1 billion.  Registered U.S. hospitals totaled 5,795 properties in 2010, containing 944,000 beds serving 37.5 million admitted patients during the year.

Medicare, the U.S. federal government’s health care program for Americans 65 years or older, provided coverage to 47.4 million seniors in 2010. National expenditures on Medicare for fiscal 2011 were projected to be $556.1 billion, including premiums paid by beneficiaries. By 2030, the number of people covered by Medicare will balloon to about 78.0 million due to the massive number of Baby Boomers entering retirement age.

Medicaid is the federal government’s health care program for low-income and disabled persons (including children), as well as certain groups of seniors in nursing homes. National expenditures on Medicaid totaled an estimated $428.1 billion in 2011. The majority of that expense is paid for by the federal government. However, the states pick up a significant share of the cost, which is a massive burden on state budgets.

The Great Recession of 2008-09 devastated the budgets of most of the 50 states. Tax revenues plummeted while demand for many state services rose. As of September 2011, unemployment remained at a very high rate in the United States, above 9%. The recession pushed more people into poverty, which increased the number of people eligible for Medicaid by several million. Federal stimulus spending included a temporary $87 billion increase in Federal support for state Medicaid spending for the period October 2008 through December 2010.

Health spending in the U.S., at about 17.6% of Gross Domestic Product (GDP) in 2010, is projected to grow steadily unless significant reforms take place. Health care spending in America accounts for a larger share of GDP than in any other country by a wide margin. Despite the incredible investment America continues to make in health care, 16% of people in the U.S. (49.9 million) lacked health care coverage for the entire year of 2010. For some, insurance was unavailable or unaffordable. In other cases, a lack of insurance was due to a personal decision not to pay for it. For example, a significant number of the uninsured are in households with annual incomes above $75,000. A large number of the uninsured are illegal immigrants. A Kaiser Family Foundation study, “Medicaid and the Uninsured,” dated February 2007, estimated that one-fourth of the uninsured are eligible for public programs but are not enrolled. These are largely low-income children, and in some cases their parents.

In March 2010, President Obama signed the Patient Protection and Affordable Care Act, designed to strengthen insurance company regulation and provide medical coverage to more than 30 million uninsured Americans. The act calls for sweeping changes in the near term to be followed by even more comprehensive changes by 2014 or beyond. Provisions taking effect within the first six months of signing included coverage for adult children up to age 26 on their parents’ policies; making it unlawful for insurers to place lifetime caps on payouts or deny coverage should a policy holder become ill; and new policies are required to pay the full cost of selected preventive care and exempt that care from deductibles. Effective in 2010, small businesses with fewer than 25 employees and average annual wages of less than $50,000 became eligible for tax credits to cover up to 35% of staff insurance premiums.

After 2014, a 3.8% unearned income tax will be levied on individuals earning more than $200,000 per year and families earning more than $250,000 per year to fund the programs in the act. Large employers with more than 50 employees that do not offer health benefits would begin paying $2,000 per full time staff member if any of the workers receives a tax credit to buy coverage. Businesses with more than 200 employees will be required to enroll all staff automatically in health insurance plans. Also in 2014, the government will begin fining citizens who choose not to carry health insurance. The fine will start at $95 per year or 1% of annual income (whichever is greater), and rise to $695 per year or 2.5% of income by 2016.

 

Health Expenditures Globally and in OECD Developed Nations:

A comprehensive study published by the OECD (Organization for Economic Cooperation & Development) in 2010, covering more than 30 nations including the majority of the world’s most developed economies (but not Brazil, Russia, India or China), found stark contrasts between health costs in the United States and those of other nations. In 2009 (the latest complete data available), the average of a list that includes, for example, the U.K., France, Germany, Mexico, Canada, South Korea, Japan, Australia and the U.S., spent 9.0% of GDP on health care. The highest figures were in America at 17.4% of GDP, The Netherlands at 12.0%, France at 11.8%, Germany at 11.6%, Denmark at 11.5% and both Canada and Switzerland at 11.4%.
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Video Introduction to Health Care Industry
Complete list of market research data provided by Plunkett Research, Ltd. for the Health Care Industry
  • Continued Rise in Health Care Costs
  • Employers Push Health Care Costs onto Employees/On-Site Clinics Begin to Appear
  • Medicare and Medicaid Spending Continue to Surge/Oldest Baby Boomers Hit 65+ Years of Age
  • U.S. Health Care Reform Act of 2010 Set to Bring Big Changes
  • Insurance Companies Change Strategies Due to Health Care Reform Act
  • Vast Number of Uninsured and Underinsured Americans
  • Few New Blockbusters: Major Drug Patents Expire While Generic Sales Growth Continues
  • Biotech and Orphan Drugs Pick Up the Slack as Blockbuster Mainstream Drugs Age
  • Quality of Care and Health Care Outcomes Data Become Available Online
  • Malpractice Suits Are Blamed for Rising Health Care Costs/Tort Reform Is Capping Awards for Damages
  • Transplants are Big Business
  • Obesity Sparks Government Action/Snack Foods Get Healthier
  • Health Care Goes Offshore, Medical Tourism and Clinical Trials Thrive in China, India and Elsewhere
  • Disease Management Programs Take Root
  • Clinics Open in Retail Store Settings and Employer Sites
  • Health Care Industry Grows Rapidly in China and India
  • Health Care Technology Introduction
  • Health Information Research Remains a Leading Use of the Internet
  • RFID Will Help Manage Hospital and Pharmacy Inventories
  • Electronic Health Records (EHR) Digitize Patient Records at an Accelerating Pace
  • Remote Patient Monitoring Advances Through Wireless Systems
  • Stem Cells—Multiple Sources Stem from New Technologies
  • Government Support for Stem Cell Reserach Evolves
  • Stem Cells—Therapeutic Cloning Techniques Advance
  • Stem Cells—A New Era of Regenerative Medicine Takes Shape
  • Gene Therapies and Patients’ Genetic Profiles Promise a Personalized Approach to Medicine
  • Breakthrough New Drug Delivery Systems Evolve
  • Advances in Cancer Research and Therapies
  • Proton Beams—The Ultimate Radiation Therapy
  • Better Imaging, including MRI, PET and 320-Slice CT, Creates Advances in Detection
  • Molecular Imaging will Lead to Early Detection and Early Cure of Cancerous Tumors
  • Advances in Laboratory Testing
  • Advances in Surgery
  • Other Treatment Technologies
  • Nanotechnology Makes Breakthroughs in Health Care
  • Complete list of statistics data provided by Plunkett Research, Ltd. for the Health Care Industry
  • U.S. Health Care Industry Overview

  • Global Health Statistics
  • Affordable Care Act Overview
  • Domestic & Foreign Pharmaceutical Sales, PhRMA Member Companies: 1975-2010
  • Employment in the Health Care Industry, U.S.: 2005-2010
  • Employment & Earnings in Health Care Practitioner & Technical Occupations, U.S.: May 2010
  • Employment & Earnings in Health Care Support Occupations, U.S.: May 2010
  • Federal R&D & R&D Plant Funding for National Institutes of Health, U.S.: Fiscal Years 2009-2011
  • The U.S. Drug Discovery & Approval Process
  • U.S. FDA New Drug (NDA) and Biologics (BLA) Approvals, 2010
  • The Nation's Health Dollar, 2012: Where It Came From (Estimated)
  • The Nation's Health Dollar, 2012: Where It Went (Estimated)
  • National Health Expenditures & Average Annual Percent Change: Selected Calendar Years, 2005-2020
  • National Health Expenditure Amounts by Type of Expenditure with Affordable Care Act Impacts, U.S.: Selected Calendar Years, 2005-2020
  • National Health Expenditure Amounts by Type of Expenditure without Affordable Care Act Impacts, U.S.: Selected Calendar Years, 2005-2020
  • Hospital Care Expenditures & Average Annual Percent Change, U.S.: Selected Calendar Years, 2005-2020
  • Hospital Care Expenditures, Percent Distribution & Per Capita Amount, U.S.: Selected Calendar Years, 2005-2020
  • Nursing Home Care Expenditures & Average Annual Percent Change, U.S.: Selected Calendar Years, 2005-2020
  • Nursing Home Care Expenditures, Percent Distribution & Per Capita Amount: Selected Calendar Years, 2005-2020
  • Home Health Care Expenditures and Average Annual Percent Change, U.S.: Slected Calendar Years, 2005-2020
  • Home Health Care Expenditures, Percent Distribution & Per Capita Amounts, U.S.: Selected Calendar Years, 2005-2020
  • Prescription Drug Expenditures, U.S.: 1965-2020
  • U.S. Prescription Drug Expenditures & Average Annual Percent Change: Selected Calendar Years 2005-2020
  • Medical Care Benefits in the U.S.: Access, Participation and Take-Up Rates, March 2011
  • Medicare Enrollment, 1970-2085
  • Medicare Cost & Non-Interest Income by Source as a Percent of GDP
  • Medicare Part D Enrollment, 2010
  • Medicare Beneficiaries with Prescription Drug Coverage, Summary Report: July 2011
  • Number & Percent of Persons of All Ages with and without Health Insurance Coverage, U.S.: 1999-2010
  • Number & Percentage of Persons of All Ages without Health Insurance Coverage, by Race/Ethnicity, U.S.: 2002-2010
  • Number & Percent of Persons without Health Insurance Coverage, by Age Group, U.S.:1999-2010
  • Number & Percent of Persons without Health Insurance Coverage, by Age Group & Sex: U.S.: 2010
  • Employers' Costs for Health Insurance, Amount and Percent of Total Compensation, U.S.: Selected Years 2006-2010
  • Life Expectancy at Age 65, U.S.
  • Current Cigarette Smoking by Persons 18 Years of Age & Over: Selected Years, 1997-2010
  • Current Cigarette Smoking by Age Group and Sex, 2010
  • Overweight & Obesity Among Persons 20 Years of Age & Over, According to Sex, Race & Hispanic Origin: Selected Years, 1960-2008
  • Table of Contents for Plunkett's Health Care Industry Almanac  
    See Full Table of Contents

    a short health care industry glossary i
    introduction 1
    how to use this book 3
    chapter 1: major trends affecting the health care industry 7
    Profiles of Leading Health Care Companies are provided, including Public, Private, U.S., and non-U.S. Firms.  
    See Full List of Companies

    • 3M Company
    • 3SBio Inc
    • Abbott Laboratories
    • Abbott Medical Optics Inc
    • Abiomed Inc
    • Accredo Health Group Inc
    • Actelion Ltd
    • Advanced Bionics LLC
    • Adventist Health System
    • Advocat Inc
  • Advocat Inc
  • Advocate Health Care
  • AEterna Zentaris Inc
  • Aetna Inc
  • AFLAC Inc
  • Agfa-Gevaert NV
  • AkzoNobel NV
  • Alcon Inc
  • Alere Inc
  • Align Technology Inc
  • Key Health Care Industry Topics
  • Managed Care
  • Health Services
  • Health Care Products
  • Diagnostics
  • Health Technologies and Systems
  • Pharmaceuticals, Drugs, Medicines
  • Hospitals, Clinics
  • Long Term Care
  • Outpatient Surgery
  • Supplies
  • Imaging and Payors
  • Medicare, Medicaid, HMOs, PPOs
  • Benefits
  • Insurance
  • Employers and Health Savings Accounts
  • Profiles of Leading Health Industry Firms
  • Executive Mailing Lists