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THE HEALTH CARE INDUSTRY

THE HEALTH CARE INDUSTRY. PRESENTED BY. GINA. JUDE. CATHY. DENISE. DOUG. RAY. INDUSTRY OVERVIEW. BOOMING!. HEALTH CARE IS. $1.37 trillion spent in 2002!!! (approx. 14% of GDP). Services Provided: diagnostic healing rehabilitation prevention. For who? injured ailing

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THE HEALTH CARE INDUSTRY

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  1. THE HEALTH CARE INDUSTRY

  2. PRESENTED BY GINA JUDE CATHY DENISE DOUG RAY

  3. INDUSTRY OVERVIEW BOOMING! HEALTH CARE IS $1.37 trillion spent in 2002!!! (approx. 14% of GDP) • Services Provided: • diagnostic • healing • rehabilitation • prevention • For who? • injured • ailing • incapacitated • disabled

  4. 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

  5. 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 COST TENSIONS • Many impressive advances made • Advances in defibrillators and artificial hearts CARDIAC CARE

  6. INDUSTRY LOVES Feels good to make others feel good Flexibility Advances in Medical Technology

  7. INDUSTRY HATES The 15-Minute Consultation Survival of the Fattest

  8. 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

  9. 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

  10. 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.

  11. 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.

  12. TOP 5 L. I. EMPLOYERS • Long Island Jewish Medical Center • North Shore University Hospital at Manhasset • Southside Hospital • Huntington Hospital • Franklin Hospital Medical Center

  13. CAREER OVERVIEW The Health Care Industry: • combines medical technology& the human touch • administers care around the clock • responds to the needs of millionsof people

  14. Health Care Practitioners Include: • doctors • emergency medical technicians • physical therapists • physicians assistants • radiology technologists • respiratory therapists • optometrists • podiatrists • speech pathologists

  15. The Health Services Industry Consists of 8 Segments: • Hospitals • Nursing and Personal Care Facilities • Offices & Clinics of Physicians (Osteopaths) • Home Healthcare Services

  16. 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

  17. Medicine and HealthRequirements • 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.

  18. Medicine and HealthJob 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.

  19. CAREER TRACKS • Physician (MD & DO) • General Practitioner • Specialist • Registered Nurse

  20. CAREER TRACKS (CON’T) • Physician Assistant • Medical Assistant • Laboratory Technician • Physical Therapist

  21. COMPENSATION • Physician: $125,000 - $155,000 • Specialist: $225,000 - $350,000 • Registered Nurse: $40,000 - $50,000

  22. 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.

  23. 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.

  24. Professional Associations • World Health Organization • American Medical Association • American Hospital Association • American Nurses Association • American Association of Health Plans • National Institute for Health Management

  25. That's all folks!

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