Hospitals Industry Overview

Companies that provide general medical and surgical services and other hospital services.

Summary

Growth in senior and Baby Boomer populations, higher rates for Medicare and managed care reimbursements, and a rise in the percentage of uninsured Americans are steering today’s bustling hospital industry. But it’s health care reform, information technology implementations, and increased services and volumes that are necessary for hospitals to achieve a long and prosperous life.   The cornerstone of the industry, acute-care hospitals, represents the largest sector with more than 5,000 units and hefty revenue.

Full Hospitals Industry Description

Consolidation

Health Service Use Constant

Cost and revenue pressures have caused many hospitals, both non- and for-profit, to merge with competing institutions to provide more cost-effective care. After mergers, hospital administrators often eliminate duplicate services, administrative costs, and excess beds; adopt “best practices”; and improve purchasing efficiencies.

The monthly use of healthcare services by Americans has remained remarkably consistent over the past 40 years, according to the Agency for Healthcare Research and Quality. In an average month, 800 of every 1,000 Americans experience health-related symptoms; 217 visit a doctor, and eight are hospitalized.

Full Hospitals Industry Trends

• CareGroup, Inc.
• Greenville Hospital System
• Henry Ford Health System

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Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Hospitals maps to a number of NAICS codes including:

Full Hospitals Industry Codes

• AcademyHealth
  
• America's Health Insurance Plans
  
• American Hospital Association
  

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