Download THE HEALTH CARE INDUSTRY

INDUSTRY OVERVIEW
HEALTH CARE IS
$1.37 trillion spent in 2002!!!
(approx. 14% of GDP)
Services Provided:
For who?
•diagnostic
•injured
•healing
•ailing
•rehabilitation
•incapacitated
•prevention
•disabled
Abundance of Opportunities in Health
Care
More than 10 million nationwide employed as of 12/01
Demand for health care workers expected to grow
faster than the avg rate of increase for all other
occupations until 2010.
Growing demand for :
physicians
registered nurses
home care aides
physicians assistants
nurse practitioners
physical therapists
nontraditional health aides
technical and administrative
TRENDS
•Payers (insurance companies, HMOs, gov’t)
have reduced reimbursements
•Providers more careful about disbursing
services
BUT
•New drugs and new procedures are out there
•Political pressure to treat patients better
•Tremendous labor shortage
•Many impressive advances made
•Advances in defibrillators and artificial hearts
Feels good to make others feel good
Advances in Medical Technology
The 15-Minute Consultation
Survival of the Fattest
MAJOR PLAYERS IN THE USA
COMPANY
REVENUE
Cardinal Health
47,948
McKesson
42,010
Aetna
25,191
UnitedHealth Group
23,454
Cigna
19,115
($ million)
JOB DESCRIPTIONS
• Physician – diagnose illnesses and prescribe and administer
treatment for people suffering from injury or
disease.
– 1/3 are primary-care
– 2/3 are specialized
• Registered Nurse(RN) – licensed; promotes
health, prevents disease, and helps patients
cope with illness.
• Licensed Practical Nurse(LPN) – care for the
sick, injured, convalescent, and disabled under the
direction of physicians and registered nurses.
• Nurse Practitioner(NP) – can prescribe medicine
and treat basic health problems
JOB DESCRIPTIONS
• Medical Technician - Technicians may prepare
specimens and operate automated analyzers, may
perform manual tests following detailed
instructions, and they may work in several areas of
the clinical laboratory or specialize in just one
• Physical Therapist - provide services that help
restore function, improve mobility, relieve pain,
and prevent or limit permanent physical
disabilities of patients suffering from injuries or
disease.
• Health Care Managers - encompasses all
individuals who plan, direct, coordinate, and
supervise the delivery of healthcare.
JOB DESCRIPTIONS
• Home Health Care Aides – helps elderly,
convalescent, or disabled persons live in their own
homes instead of in a health facility. Under the
direction of nursing or medical staff, they provide
health-related services, such as administering oral
medications
• Medical Secretaries - transcribe dictation,
prepare correspondence, and assist physicians or
medical scientists with reports, speeches, articles,
and conference proceedings.
TOP 5 L. I. EMPLOYERS
• Long Island Jewish Medical Center
• North Shore University Hospital at
Manhasset
• Southside Hospital
• Huntington Hospital
• Franklin Hospital Medical Center
CAREER OVERVIEW
The Health Care Industry:
• combines medical technology & the human
touch
• administers care around the clock
• responds to the needs of millions of
people
Health Care Practitioners
Include:
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doctors
emergency medical technicians
physical therapists
physicians assistants
radiology technologists
respiratory therapists
optometrists
podiatrists
speech pathologists
The Health Services
Industry Consists of 8
Segments:
• Hospitals
• Nursing and Personal Care Facilities
• Offices & Clinics of Physicians
(Osteopaths)
• Home Healthcare Services
Health Services Segments
(con’t)
• Dental Offices/Clinics
• Offices/Clinics of Other Health
Practitioners
• Health and Allied Services (not
classified elsewhere)
• Medical and Dental Laboratories
Medicine and Health
Requirements
• Health care professionals including doctors, RNs, LPNs,
nurse practitioners, etc., must be licensed in every
state.
• Doctors must graduate from accredited medical schools,
pass the United States Medical Licensing Examination,
and complete 1-7 years of graduate medical school
residency in their specialty.
• A new doctor typically finds employment in a medical
group, hospital, or HMO. With more experience, doctors
can expect salary increases and possibly shares of the
organization for which they work.
• Some doctors advance into management positions,
although most simply continue to practice medicine. A
base of regular patients is often developed and fewer
new patients may be accepted. As doctors approach
retirement, they generally decrease their workloads and
hours.
Medicine and Health
Job Outlook
• Since managed care has steered patients towards
primary-care physicians, the job outlook for general and
family practitioners, general internists, and general
pediatricians is good. Specialists will likely find less
demand for their services and competition.
• Our aging population will require more geriatric specialists
and cardiologists as people live longer due to medical
technology.
• The number of jobs for EMTs, medical and surgical
technicians, and occupational and physical therapists is
expected to grow at a faster rate than overall job
growth, and RNs are expected to see exceptionally high
job growth.
• Physicians and LPNs are expected to be in line with
overall job growth. LPNs will find more opportunities in
nursing homes and other care-giving settings for the
elderly as the Baby Boom generation ages.
CAREER TRACKS
• Physician (MD & DO)
• General Practitioner
• Specialist
• Registered Nurse
CAREER TRACKS (CON’T)
• Physician Assistant
• Medical Assistant
• Laboratory
Technician
• Physical Therapist
COMPENSATION
• Physician: $125,000 $155,000
• Specialist: $225,000 $350,000
• Registered Nurse:
$40,000 - $50,000
Lowdown From Hoovers
• The US health care services the
world's largest market.
• Worth nearly $1.4 trillion.
• A problem (and an opportunity) is
the rising demand for services.
• People are living longer and need
more care.
Technology in Health Care
• Technology may not be the
industry's panacea
• Loading patient and payer
information, supply orders, and
other administrative red tape onto
computers organizes information and
helps reduce costly errors
• Technology solutions are also pricey
and don't often fit into budgets.
Professional Associations
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World Health Organization
American Medical Association
American Hospital Association
American Nurses Association
American Association of Health
Plans
• National Institute for Health
Management