Lec1_Overview - Industry Overview Health Economics...

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Industry Overview Industry Overview Health Economics Professor Vivian Ho Fall 2009
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Health Care Expenditures in the Health Care Expenditures in the United States, 1960-2007 United States, 1960-2007 1960 1970 1980 1990 2000 2005 2007 Nominal health expenditures $27.5 74.9 253.9 714.0 1,353.3 1,987.7 2,241.2 (billions of dollars) Annual rate of growth -- 10.5% 13.0 10.9 5.9 8.9 6.2 (average annual % change from previous period shown) Nominal per capita health $148 356 1,102 2,813 4,790 6,697 7,421 expenditures Health expenditures as 5.2% 7.2 9.1 12.3 13.8 16.0 16.2 percentage of GDP Source: CMS Homepage: http://www.cms.hhs.gov/NationalHealthExpendData/downloads/tables.pdf
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The Health Care Industry is The Health Care Industry is Rapidly Evolving Rapidly Evolving Advances in medical technology and drugs are dramatically improving patient care But, these improvements are costly Aging U.S. population % 65 years+ 1950 8.1 1970 9.8 2008 12.8
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Increased cost containment efforts Changes in government reimbursement of health care providers Private insurers are exercising more control over patient care Increased competitive pressures Mergers of existing providers Entry of new competitors Where are the most promising business opportunities? The Health Care Industry is The Health Care Industry is Rapidly Evolving Rapidly Evolving
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Which category has the largest share Which category has the largest share of health care expenditures? of health care expenditures? Hospital Care Physician Care Prescription Drugs
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America’s Top 100 Fastest-Growing Companies America’s Top 100 Fastest-Growing Companies FORTUNE, September 29, 2008 FORTUNE, September 29, 2008 100 RANK COMPANY EPS GROWTH RATE REVENUES (millions ) WHAT THEY DO 9 Intuitive Surgical 62% 753.7 Makes and services surgical robots that allow for less invasive procedures 29 Natus Medical 57% 139.8 Makes products to detect, treat and monitor newborn health conditions 64 Psychiatric Solutions
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Lec1_Overview - Industry Overview Health Economics...

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