The Outlook of the Healthcare Industry

The healthcare industry is rapidly growing in the US. Nearly 8 percent of the US workforce is employed by US healthcare. Whether you’re looking for a career as a doctor or a surgeon, it’s beneficial to be informed of the job rate in the healthcare industry. Here are some important trends that will help get you started.

Growing Industry: New Changes in Structure
A reoccurring trend that seems to be growing rapidly is changing the way people look at the medical industry. This change is referred to as the growth within the healthcare field. For example, freestanding ambulatory clinics, outpatient services and specialty hospitals are readily available to anyone that needs immediate care without going to the hospital or having a lengthy hospital stay. Other services in this growing industry would be pain centers, cancer hospitals, cardiology services, orthopedic services, image centers and others specialty services. Since 1980, hospitals have undergone the most change, reducing the inpatient length of stay by 14 percent. The rapid growth of improved ambulatory and medical services in an outpatient setting are due to the advancement in technology such as anesthesia and surgical equipment.

On the Rise: Cost
The cost of medical related expenses is another trend that is on the rise. Since 2000, 36 percent of the health insurance cost has risen and Medicaid costs have gone up 63 percent. Much of the newer technology is primarily responsible for such a rise in healthcare insurance costs. CAT scans, stents, catheters and X-Ray machines are just a few examples. One of the fastest growing component of healthcare costs are prescription drugs. Doctors are continuously introducing new products and treatment plans for patients. Between the year 1995 and 2003, the number of sold prescription drugs skyrocketed from 2.1 billion to 3.2 billion. Eventually, the prescriptions drug cost would decline as doctors and hospitals came together to encourage insurance companies to give incentives such an reimbursement rates. In addition, co-pays would rise and deductibles would increase in exchange for reducing prescription drugs benefits. An array of healthcare plans are working towards a wellness and prevention programs, thus making it efficient to focus on the patient with chronic and specific illness such as diabetes or asthma. As of late, the Centers for Medicare and Medicaid Services (CMS) are undergoing a large advancement to improve chronic care.

Medical Outsourcing
Outsourcing has become a popular tool that can help to create smooth and efficient work environment a well as relying on steady and timely assistance from knowledgeable individuals. Areas such as food service, technology, housekeeping and finance are popular when it comes to outsourcing. While there are some helpful and useful advantages to outsourcing, this trends could pose a threat to job status if not handled properly. For example, in 2004, a non-profit medical center in Illinois had been taxed 1.1 million in local property taxes after the board had concluded that the facility was using for-profit services. Another stimulant is the Health Insurance Portability and Accountability Act (HIPPA), which conflicts with having another individual (or a “middle man”) relay sensitive patient information.

Aging Population
Another popular trend is the increased number of elderly individuals and the need for healthcare services provided for them. It is predicted that there will be an increase number of individuals that are 65 and older by the year 2025. That is an astounding 80 percent increase in the elderly population. It is said that as the number of elderly individuals proceed, the demand for doctors, pharmacist and nurses will be of higher demand and more likely to become scarce. New advancements in this trend are growing everyday as hospitals and doctors become aware of the need for encouraging elderly to become more independent through better health and living situations.

The Outlook of the Healthcare Industry 2
Sheldon Armstrong
Sheldon Armstrong is a regular contributor for INFOtainment News. He loves writing about technology and keeping up with the latest gadgets on the market. In addition, he contributes articles covering a wide range of topics together with his friends who appear as guest writers every now and then.

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