Premium Essay

Hospital Services Industry

In: Business and Management

Submitted By snuess69
Words 1542
Pages 7
Hospital Services Industry

Hospital Services Industry
The hospital services industry has grown exponentially in the recent decades to become a major employer and income generator that can also effect the local and regional economic scenes. This extremely fast-growing sector of the United States has every reason to continue the current trend. This paper will analyze the current hospital services industry from an economic perspective and focus on potential points of improvement.
The United States increased expenditures in the hospital services industry is growing at a concerning rate and isn’t showing any signs of slowing down. According to the National Health Center for Statistics, the national health expenditure as a percent of gross domestic product (GDP) has grown from 12.1 percent in 1990 to 17.4 percent in 2013 (National Health Center for Statistics, 2014). Economic growth can be measured by using the GDP and the United States’ GDP ratio allocated to health care has continued to rise faster than most other developed nation (Hockenberry & Thorpe, 2014). The continuous growth and comparison to other developed nation is the primary concern for economists.
In order to obtain a clear picture of the growth it is beneficial to analyze health care data over the course of several decades. In the table below several data components are analyzed including: the total health expenditures, per capita health expenditures, health as a percent of GDP, health sector employment, and average increase in employment percentage are shown to give an idea of the overall increase in this sector from 1970 to 2007.

Table 1 Year | Total Health Expenditures ($Billions) | Per Capita Health Expenditures | Health as % of GDP | Health Sector Employment (000) | Avg. Increase in Employment % | 1970 | $74.9 | $356 | 7.2% | 3,052 | | 1980 | 253.4 | 1,100 | 9.1 |…...

Similar Documents

Premium Essay

Taxi Service Industry Analysis

...[TAXI SERVICE INDUSTRY ANALYSIS] Service Industry Analysis Services Marketing / Bachelor of Business 2 SERVICE INDUSTRY ANALYSIS: INDIVIDUAL ASSIGNMENT TAXI SERVICE INDUSTRY ANALYSIS PREPARED BY: MIZNA ADAM SERVICES MARKETING (323) BACHELOR OF BUSINESS FACULTY OF MANAGEMENT & COMPUTING MALDIVES COLLEGE OF HIGHER EDUCATION Mizna Adam Service Industry Analysis Services Marketing / Bachelor of Business 3 Acknowledgement First and foremost I would like to thank all the taxi center owners and Mr. Ahmed Nazeer, Director of Ministry of Transport and Civil Aviation, for their contribution in completion of this report. Secondly I acknowledge the assistance provided by Mr. Hussain Husham, Managing Director of Brothers Motor Company, in arranging appointments with the taxi owners for the completion of this assignment. I also acknowledge the invaluable guidance provided by the lecturer, Ms. Zakkiyaa Moosa. I am also grateful for my colleagues Ms. Maliya Kurik Riza, Ms. Waseema Abdulla in the Bachelors Program for their valuable support and contribution in collecting the relevant information for the compiling the report. The constructive comments provided by each individual motivated me to improve my work. Mizna Adam Service Industry Analysis Services Marketing / Bachelor of Business 4 Executive Summary This report analyses the performance of taxi service industry of the Maldives. Taxi service is an important mode of transport in Maldives.......

Words: 9510 - Pages: 39

Premium Essay

Service Industry

...research highlighted a direct link between the significance of service industry and economic growth performance based on US and European data (Bart et al., 2008). Attributable to, however, limited availability of service industry company level data particularly that on economies of scale, policy making in order to increase service industry output rely on previous studies and observation of cumulative global data (Morikawa, 2011). Attributable to the sovereign debt crisis, the quantity and quality of available resources and innovations has undergone serious deformation, which is measured by increased job losses, unemployment, and decreased number of investments. Consumption declined and governments applied various actions to stimulate the economic growth. The three main Industries have been facing tough times and responded differently, whilst these times the service industry has not only been resilient, but also has gone under transformation regarding its structure (Breyers, 2011). The intent in this paper is to underscore the importacy of service industry and prove the following hypothesis: ,,The service industry dominates the national economies of the developed countries.’’ At the first place in order to demonstrate briefly industrialization and post industrialization, the expansion of the service industry with economic growth is outlined. Moreover, this section addresses the problem of expansion of service industry for the long run. Secondly, to support the answer,......

Words: 4036 - Pages: 17

Premium Essay

Key Drivers for the Growth of Hospital Industry in Nepal

...Key Drivers for the growth of Hospital industry in Nepal 1. Technological advancement Technological advancement not only helps in the growth of the manufacturing industry but also helps in the growth of service industries like hospital by the advancements in medical technologies. Advancement in technology has shortened the adoption curve for new technologies; the benefits of the advancements are clearly visible in terms of smoothening of workflow, ROI, and hospitals ability to treat more patients in the same time span. Some major examples of this phenomenon are: * Increase in number of minimally invasive surgeries: With every passing day a higher number of hospitals are shifting towards minimally invasive procedures. This concept has been equally appreciated by the patient and provider both, benefits to the patient being early discharge and return to normalcy and for the provider a faster turnaround thus higher profitability. This phenomenon has been helped by advancements in the field of laparoscopy, endoscopy, cath labs, etc. * Home health: With time becoming a precious commodity a significant chunk of population is opting for devices which can provide diagnosis, care within the home environment. This phenomenon helps the patients in saving time and utilizes the saved time for other productive activities. The development in the field of blood glucose monitoring, insulin management, sleep apnea, cardiac rhythm management will be the main growth......

Words: 834 - Pages: 4

Premium Essay

Service Level Improvements at County Hospital

...Service Level Improvements County Hospital X-Ray Department Sullivan University MGT 620 David E. Beck Luke Bubenzer Joseph Brent Hardin Marco Monteiro Executive Summary County Hospital has identified an opportunity to improve the patient experience when utilizing the existing x-ray department. Patients have expressed dissatisfaction with the amount of time needed to complete the entire x-ray process. The process improvement team has identified several different tactics that can be pursued in order to improve the patient satisfaction. This proposal discusses several viable alternatives. X-Ray Department Current Operation Current system is not patient compatible in terms of time spent in the process. Current system is not patient compatible in terms of time spent in the process. The main concern with the current operation is the amount of time needed for each patient to complete the entire x-ray process. This process is defined as when the patient leaves his physician’s offices to go to the x-ray center. The process is complete when the patient leaves the x-ray center and the physician receives the developed x-rays via courier service. Excessive numbers of steps lead to patient dissatisfaction and excessive costs on wasted materials and labor. Excessive numbers of steps lead to patient dissatisfaction and excessive costs on wasted materials and labor. There are several keys steps in the process for each patient. The first step is......

Words: 2178 - Pages: 9

Premium Essay

Analysis of Service Industry Case

...1. Introduction This paper presents and discusses how an entrepreneur in this ever changing world strives to become an international firm. This case study of an Omani firm Renaissance Services SAOG (hereafter, Services) explains and shows us the growth on international scale of a family owned business. In order to understand the case, several key components were identified, and were analyzed to see its text book validity. Each component is critically analyzed as the case study progresses. 1.1Introduction of the Firm As an entrepreneurial firm in 1996, Services has progressed immensely across the globe. Its chairman and founder Samir Fancy had a crystal clear vision and by disclosing it to every Tom, Dick and Harry of the firm, Services gradually progressed on international level. The firm is primarily an oil and gas industry services company, and is listed on the Muscat Securities Market in Oman. It has an excellent offshore fleet of vessels, and is counted among the world’s top ten in providing global oil and gas industry service. According to its official website (, Services has over 12,000 employs, operating in over 16 countries. The 2012 revenue of the firm was US$ 0.67 Billion. Apart from this sector, Services also engages in several other services related sectors, such as marine engineering, media communication, and also engages itself in education and training. The firm also engages itself in Corporate Social Responsibility, by......

Words: 1746 - Pages: 7

Premium Essay

Food Service Industry

...Aa The Food processing industry has an important role to play in linking the farmers to the final consumers in the domestic as well as the international markets. Food processing combined with marketing has the potential of solving the basic problems of agricultural surpluses, wastages, rural jobs, and better remuneration to the growers. In the next ten years, food production is expected to double. These produces, if processed and marketed smartly, can make India a leading food supplier of the world. India with a population of 1.08 billion (growing at about 1.70% per annum) provides a large and growing market for food products. Food products are the single largest component of private consumption expenditure, accounting for as much as 49.00 per cent of the total spending. Furthermore, the upward mobility of income classes and increasing need for convenience and hygiene is driving demand for (a) perishables and non food staples and (b) processed foods. Also, eating out is a booming practice in urban India and processed foods are accepted as alternative to the home cooked food because of the convenience it offers. Also, with the globalization of trade and availability of high speed logistics, food retailers in developed countries are sourcing an year-round supply of fruits and vegetables from developing countries. Thus, both for local consumption as well for export there is a year round opportunity for fruits and vegetables, meat and poultry products and......

Words: 473 - Pages: 2

Premium Essay

Software & Services Industry Analysis

...Industry Analysis: Software & Services The computer software and services industry is a maturing industry that offers a wide range of products and services such as personal computer operating systems, office productivity, network security applications, payroll processing services, information technology consulting and outsourcing services. New software is continually introduced to the market due to faster processing speeds and more efficient information technology and has become an integral part of daily operations for all facets of business. There are two main segments of the software & services industry. One segment offers the primary product that consists of the standard software and services through a perpetual license agreement. Application software is used to accomplish an array of tasks with the computer. Database software and Office suite software which includes word processing and spreadsheets targets individual consumers while enterprise software such as Business Intelligence and Customer Relationship Management targets businesses for efficient operational use and growth. The other segment offers a customized combination of the product that will best fit the client’s needs. There is a highly competitive landscape in the industry. The 50 largest companies generate approximately 70 percent of revenue. Smaller software companies’ success is depends on developing new technology or targeting niche markets with effective marketing strategies. Many......

Words: 426 - Pages: 2

Free Essay

Service Industry Productivity Measurement

...SOLUTION TO CASE STUDIES CASE: 1 “NATIONAL AIR EXPRESS” CASE: 2 “MINIT-LUBE, INC.” CHAPTER # 1 “OPERATIONS AND PRDUCTIVITY” CASE STUDY NATIONAL AIR EXPRESS 1. Is the productivity measure of shipments per truck still useful? Are there alternatives that might be effective? Answer: Productivity of company can be measured by the number of stops covered by each driver. This way the amount of services can be measured on every day basis and with the area covered by each driver. So the company can tell how much area has been covered by a driver in one day. This way productivity can be assessed in a measurable way. It can be formulized as: Productivity= NoSDrv Where, NoS = Number of Stops Drv = Driver 2. What if anything, can be done to reduce the daily variability in pickup call-ins? Can the driver be expected to be the several locations at once at five pm? Answer: This can be done by load balancing over the specified time duration. By load balancing I mean that we divide the crowded hours to reduce the pressure on peak time. Usually most of the telecommunication companies offer promotions at the night time when the network is not crowded so people only for important calls can use and benefit from the network and it does not affect the businesses by doing so. Problem shows that most of the calls are around 5 p.m. so the promotional strategy can be applied to reduce the load.  3. How should package pick up performance be measured are standards......

Words: 985 - Pages: 4

Premium Essay

People and Places in the Service Industries

...1005HSL People and Places in the Service Industries Portfolio Assignment Brief Having completed your quiz, you now need to produce work for your portfolio. The portfolio will be marked out of 100 and forms 50% of the total assessment for the course. There are 3 main parts consisting of 6 sub-sections to the portfolio (1a,1b, 1c, 2a, 2b, & 3) each focussing on the lectures from Weeks 2 to 8. The first step in building this portfolio is to choose a tourism place. This could be a city, hotel, restaurant, theme park, or an event. You will complete 3 main activities: 1. An investigation into the tourism place you have chosen. (40 marks) a) Provide a description of the tourism place you have chosen, including its sense of place, the products and/or services it offers. Your description should touch on the place and the sense of it. (10 marks) b) Analyse how the tourism place is made available, i.e. access. Your analysis should refer to lecture slides and the assigned reading for Week 2. (10 marks) c) Analyse its customers and their behaviours in terms of their motivations, personalities, attitudes, perception and values. (20 marks) You could provide photographs/pictures/artefacts/short video clips to support your description. * Word guide: 600 words * Video clip limit: No more than 3 video clips, and each no longer than 2 minutes * Photographs & Artefacts limit: No more than 5 items. 2. The production of promotional material......

Words: 645 - Pages: 3

Premium Essay

Valuation for Hospital Industry

...| Valuation of Companies in the Hospital Industry in India | | | September, 2015 | Group 9 – Section B | | Group Members * Abhijnan Dasgupta (14P181) * Aditya Thangeda (14P183) * Apurba Mukherjee (14P189) * Nikhil Sharma (14P210) * Supreet S (14P232) | Table of Contents 1 Overview of Hospital Industry in India 2 1.1 Introduction 2 1.2 Market Size 2 1.3 Growth drivers for healthcare industry 3 1.3.1 Rising GDP Per Capita 3 1.3.2 Favourable Demographics 4 1.3.3 Disease profile 4 1.3.4 Rising Health Insurance in India 4 1.3.5 Rising Medical Tourism 5 1.3.6 Favorable government policies 5 2 Valuation of Companies 6 2.1 Apollo Hospital 6 2.1.1 Key Stock Statistics and Shareholding Pattern 6 2.1.2 Financials of the Company 6 2.1.3 Assumptions for Valuation 8 2.1.4 WACC Calculation 8 2.1.5 EBIT Calculation 10 2.1.6 Projected Cash Flows 10 2.1.7 Conclusion 11 2.1.8 Limitations 11 Overview of Hospital Industry in India Introduction Healthcare has become one of India's largest sectors - both in terms of revenue andemployment. The industry comprises hospitals, medical devices, clinical trials,outsourcing, telemedicine, medical tourism, health insurance and medicalequipment. The Indian healthcare delivery system is categorised into two major components -public and private. * Public Healthcare System: The Government, i.e. public healthcare system comprises limited secondary and tertiary care institutions in key......

Words: 5097 - Pages: 21

Premium Essay

Visit to the Hospital and Human Service

...Visit to Laurel Regional Hospital and Human Service Visiting the Ellicott human service agency was absolutely new experience for me, because I have never visited an actual Human service agency before. In fact, my expectations were mixed and controversial before visiting the agency. At first, I did not know what to expect from the visit because I perceived the human service agency as the place, where people attempt to find some counseling services and get assistance from the part of the agency’s employees. At the same time, I expected to encounter people, who have lost all hopes in life and attend the human service agency as the last place, where they expect to find some help and assistance of social workers and health care professionals. However, when I went to the human service agency, my expectations turned out to be quite inaccurate. When I went to the human service agency I attempted to make some observations. I just observed and tried to understand what was going on and what sort of people I observed there. To my surprise, I saw just a few people, who looked to be truly desperate. As for the majority of people, I saw that they were doing some routine things, which they have already accustomed to. In fact, they looked for services they needed and they were certain that they would receive services that would help solved their case. At the same time, people I saw there apparently had a relatively low level of income. Judging from their appearance, I could understand that......

Words: 1524 - Pages: 7

Premium Essay

Taj Hotels Service Industry

...Marketing Management Assignment Gap Model of Service Quality: The Taj Hotels Submitted by: Syndicate 6 Sneha Oswal (11020541127) Sunil Kumar(11020541131) Sudhir Bairwa (11020541128) Swapnil Gupta (11020541132) Supratim Sinha (11020541129) Swati Thakur (11020541133) Sumit Bhattacharya(11020541130) INTRODUCTION The Gap model provides an integrated framework for managing service quality and customer driven innovation. The hallmark of this model is its anchoring on the customer and integration of the customer throughout all gaps within the model. Every gap and every strategy is used to close the gaps in the model and meet or exceed the customer expectations. SERVAQUAL is the service quality framework. It has 5 dimensions: reliability, responsiveness, assurance, empathy and tangibles. SERVQUAL measures have been applied in and adapted to many industry settings. The 5 gaps are: •Gap 1 is the distance between what customers expect and what managers think they expect - Clearly survey research is a key way to narrow this gap. •Gap 2 is between management perception and the actual specification of the customer experience - Managers need to make sure the organization is defining the level of service they believe is needed. •Gap 3 is from the experience specification to the delivery of the experience - Managers need to audit the customer experience that their organization......

Words: 2286 - Pages: 10

Free Essay

Industry Organization Product and Service

...The industry and organization’s products and services I am doing my internship in Tender Care Rehab Center. It’s situated in very convenient location of Mississauga. Tender care is a multispecialty physiotherapy center starts from acupuncture, chiropractor, massage therapy and physiotherapy. It includes electrotherapy department (TENS, Ultrasound, Contrast bath) and exercise therapy department (Treadmill, Bike, CPM and dumbbell, pulley). Clinic also deals with orthotics and prosthesis. Tender care also provide free transportation service for their physically disable patients. The clinic treats the patients like orthopaedic, neurological, geriatrics and paediatrics, burns cases. Tender care mostly deals with the motor vehicle accident cases that include multiple fractures. Our supervisor Mrs. Saloni bookseller is registered physiotherapist. She has finished her graduation from India. She has come to Canada before 4 years and she has fulfilled the requirement to practice physiotherapy in Canada. She manages this clinic from last 2 years. Best thing about her is she always takes each case uniquely and provides the best rehabilitation programme for the same. She always challenge the patients to effort more which gives the quick results. There are two assistants who manage all the documentation work regarding to the insurance and appointments for the massage therapy and acupuncture. Provide a detailed description of your job, including responsibilities, role......

Words: 740 - Pages: 3

Premium Essay

Service Quality: the Future of the Services Industry

...Service Quality: The Future of the Services Industry “Why is quality such an important issue in the marketing of services? Why is quality more difficult to manage in service industries than it is in the case of physical goods? Use examples to support your answer.” The concept of service quality is a relatively new construct in the marketing discipline which first emerged in the 1980’s when organisations began to consider quality not only in the already established manufacturing sector but in the rapidly evolving service industries sector also. Specifically defined service quality is a subjective experience which results from ‘an evaluation process in which the customer compares their perceptions of service with their expectations’ (McColl-Kennedy 2003). In the late 1990s and early part of the 21st century service organisations began to realise the importance of service quality and strived to narrow the gap between the customers perceptions of service and their expectations in order to deliver a quality service that linked to customer satisfaction, retention and patronage. This relisation that service quality was an important source of competitive advantage and long-term profitability for service organisation’s advocated the paradigm shift in marketing from a focus on manufacturing quality to incorporate service quality also. Moreover the modern day services firm strives to deliver a quality service on a routine basis, however due to the uncontrollable and......

Words: 1626 - Pages: 7

Premium Essay

Dav Spc in Service Industry

...using SPC? Does this differ from a manufacturing company? Insurance, a mature industry, is becoming very competitive, and is more and more considered a commodity. DAV wants to keep its leading position in the insurance industry. The company, with its multi locations operations, more than 2000 people in staff, the seasonal variability of workload, the ‘same day’ processing of demands, etc… did recognize the need for consequent quality control methods. The company did note that customers subscribing to a new insurance police are very unhappy about mistakes made in their personal data and also that correcting those mistakes are time and cost intensive. DAV identified customer service as a potential vector to improve its customer satisfaction and needs a methodology to accurately and undisputedly measure the accuracy level of the registration process at New Policies’ department. Using the SPC method DAV attempts to track in a quantifiable manner how high/low the level of inaccuracy of the process (and not explicitly the employees). SPC is part of TQM and is originally designed for quality control in manufacturing environment. Manufacturing corporations do quantify the limits of a manufactured product in measurable units (variables). The challenge when transposing this method to services industries is to quantify human actions, and appreciate the limits of that action. (Attributes) ‘When is a service good or bad?‘ How would you explain to a bank manager (background in......

Words: 887 - Pages: 4