General Medical & Surgical Hospitals
This article provides insightful industry analysis and research into the general medical and surgical hospitals industry. This article contains the definition, key industry products, and activities and discusses in brief major industry trends.
What are General Medical & Surgical Hospitals?
This industry comprises establishments known and licensed as general medical and surgical hospitals primarily engaged in providing diagnostic and medical treatment (both surgical and nonsurgical) to inpatients with any of a wide variety of medical conditions. These establishments maintain inpatient beds and usually provide other services such as outpatient services, operating room services, pharmacy services, and food services. The Hospital industry includes firms licensed as general medical and surgical hospitals that provide surgical and nonsurgical diagnostic and medical treatment to inpatients with medical conditions. These establishments usually provide other services, such as outpatient services, anatomical pathology services, diagnostic X-ray services, clinical laboratory services, operating room services for a variety of procedures, and pharmacy services.
Organization and Structure:
General and surgical hospitals are generally categorized as nonprofit, profit-making, and both state and local government establishments. Hospitals receive their revenues from different sources for the services they provide to patients. Hospital expenses are affected by the legislation, costs of medical technology, and trends in medical practice. Hospitals are structured around an administrative staff that oversees nursing and administrative functions and separately operates medical staff and ancillary services, such as a pharmacy and the services of various therapists.
Key General Medical & Surgical Industry Products:
Given below is a non-exhaustive list of products offered by the General Medical and Surgical Hospitals industry:
- Outpatient care
- Circulatory diseases
- Childbirth
- Digestive diseases
- Respiratory diseases
- Injury and poisoning
- Other inpatient care
- Emergency departments
- Therapy services
- Respiratory therapy services
- Physical therapy programs
- Occupational therapy
- Geriatric services
- Alzheimer's diagnostic and assessment services
- Adult daycare facilities
- Prevention programs
- Patient education programs
- Weight reduction & drug rehabilitation
- Prenatal care
- Pediatric wellness
Key General Medical & Surgical Industry Activities:
The major activities performed by this healthcare industry segment:
- Inpatient care
- Outpatient care
- Anatomical pathology services
- Diagnostic X-ray services
- Clinical laboratory services
- Operating room services
- Prevention and Patient Education Programs
Key Trends in General Medical & Surgical Industry:
Hospitals occupy an important place in the world's healthcare system, providing personal care for people with acute illness. The industry has a low level of capital intensity and the overall hospital industry is in stable condition and current healthcare reforms will further enable growth for the industry. Hospitals will benefit from the increasing demand for healthcare among a growing customer base and rising and aging population. The current challenges include providing quality patient care keeping track of rising costs and strong competition for patients. Increasing labor and professional costs are constraining profit on one side and hospitals need to compete for healthcare talent on the other side due to a shortage of qualified medical professionals. Labor costs account for between 40% and 70% of total recurrent expenditure in hospitals. The General Hospitals industry in developing countries is growing at a stable rate in recent years, due to a large population base and rapid GDP growth.
Key Drivers for General Medical & Surgical Industry:
Given below are key drivers and challenges for the general medical and surgery industry:
- Technological Changes & Innovations
- Rising Household Incomes
- Ageing Population
- Healthcare Reforms
- Shortage of Hospital Beds per Thousand People
- Rising Labor Costs
- Shortage of Qualified Personnel & Medical Professionals
- Rising Capital Costs
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