INDUSTRY INDUSTRY OVERVIEWOVERVIEW

HEALTH CARE IS

$1.37 trillion spent in 2002!!!(approx. 14% of GDP)

Services Services Provided:Provided:

•diagnostic

•healing

•rehabilitation

•prevention

For who?For who?

•injured

•ailing

•incapacitated

•disabled

Abundance of Opportunities in Abundance of Opportunities in Health CareHealth 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 nurseshome care aides

physicians assistantsnurse practitionersphysical therapists

nontraditional health aidestechnical and administrative

TRENDSTRENDS

•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

•Many impressive advances made•Advances in defibrillators and artificial hearts

Feels good to make others feel good

Advances in Medical Technology

The 15-Minute Consultation

Survival of the Fattest

MAJOR PLAYERS IN THE MAJOR PLAYERS IN THE USAUSA

COMPANY REVENUE ($ million)

Cardinal Health 47,948

McKesson 42,010

Aetna 25,191

UnitedHealth Group 23,454

Cigna 19,115

• 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

JOB DESCRIPTIONSJOB DESCRIPTIONS

JOB DESCRIPTIONSJOB 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.

JOB DESCRIPTIONSJOB 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.

TOP 5 L. I. TOP 5 L. I. EMPLOYERSEMPLOYERS

• Long Island Jewish Medical Center

• North Shore University Hospital at

Manhasset

• Southside Hospital

• Huntington Hospital

• Franklin Hospital Medical Center

CAREER OVERVIEWCAREER OVERVIEW

The Health Care Industry:

• combines medical technology & the human touch

• administers care around the clock• responds to the needs of millions of

people

Health Care Health Care Practitioners Include:Practitioners Include:

• doctors• emergency medical technicians• physical therapists• physicians assistants• radiology technologists• respiratory therapists• optometrists• podiatrists• speech pathologists

The Health Services The Health Services Industry Consists of 8 Industry Consists of 8

SegmentsSegments:

• HospitalsHospitals• Nursing and Personal Care Nursing and Personal Care

FacilitiesFacilities• Offices & Clinics of Physicians Offices & Clinics of Physicians

(Osteopaths)(Osteopaths)• Home Healthcare ServicesHome Healthcare Services

Health Services Health Services SegmentsSegments

(con’t)(con’t)

• Dental Offices/Clinics• 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 HealthMedicine and HealthRequirementsRequirements

• 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 HealthMedicine and HealthJob OutlookJob Outlook

CAREER TRACKSCAREER TRACKS

• Physician (MD & DO)

• General Practitioner

• Specialist

• Registered Nurse

CAREER TRACKS CAREER TRACKS (CON’T)(CON’T)

• Physician Assistant

• Medical Assistant

• Laboratory Technician

• Physical Therapist

COMPENSATIONCOMPENSATION• PhysicianPhysician: : $125,000 - $125,000 -

$155,000$155,000

• SpecialistSpecialist: : $225,000 - $225,000 -

$350,000$350,000

• Registered NurseRegistered Nurse: :

$40,000 - $50,000$40,000 - $50,000

Lowdown From HooversLowdown 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.

Technology in Health Technology in Health CareCare

• World Health Organization• American Medical Association• American Hospital Association• American Nurses Association• American Association of Health

Plans• National Institute for Health

Management

Professional Professional AssociationsAssociations