INDUSTRY OVERVIEW HEALTH CARE IS $1.37 trillion spent in 2002!!! (approx. 14% of GDP)
Abundance of Opportunities in Health Care More than 10 million nationwide employed as of 12/01 Demand for health care workers expected to grow faster than the avg rate of increase for all other occupations until 2010 . Growing demand for : physicians registered nurses home care aides physicians assistants nurse practitioners physical therapists nontraditional health aides technical and administrative
Payers (insurance companies, HMOs, gov’t) have reduced reimbursements
Providers more careful about disbursing services
New drugs and new procedures are out there
Political pressure to treat patients better
Tremendous labor shortage
Many impressive advances made
Advances in defibrillators and artificial hearts
COST TENSIONS CARDIAC CARE
Feels good to make others feel good Advances in Medical Technology Flexibility INDUSTRY LOVES
The 15-Minute Consultation Survival of the Fattest INDUSTRY HATES
MAJOR PLAYERS IN THE USA COMPANY REVENUE ($ million) Cardinal Health 47,948 McKesson 42,010 Aetna 25,191 UnitedHealth Group 23,454 Cigna 19,115
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
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.
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
Franklin Hospital Medical Center
The Health Care Industry:
combines medical technol ogy & the human touch
administers care around the clock
responds to the needs of millions of people
Health Care Practitioners Include:
emergency medical technicians
The Health Services Industry Consists of 8 Segments :
Nursing and Personal Care Facilities
Offices & Clinics of Physicians (Osteopaths)
Home Healthcare Services
Health Services Segments (con’t)
Offices/Clinics of Other Health Practitioners
Health and Allied Services (not classified elsewhere)
Medical and Dental Laboratories
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 Requirements
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.
Medicine and Health Job Outlook
Physician (MD & DO)
CAREER TRACKS (CON’T)
Physician : $125,000 - $155,000
Specialist : $225,000 - $350,000
Registered Nurse : $40,000 - $50,000
Medical Assistant: $40,000 - $50,000
Laboratory Technician: $20,000 - $50,000
Physical Therapist: $50,000 - $60,000
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 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.