US Healthcare Jobs Industry Outlook

US Healthcare Jobs Industry Outlook

It's always helpful to know at least a little bit about the industry you're considering becoming a part of, and healthcare jobs are no different. You may not realize this, but the United States spends more on healthcare (both as part of the GDP and on a per-capita basis) than any other nation in the world! 16% of the GDP is spent on healthcare, meaning that this is a huge industry to try to analyze. In the year 2007, the US spent over $7,000 on health care per person, for a total of 2.25 trillion dollars. That's no small potatoes, and it means a lot for anyone looking for healthcare jobs!

The United States is the only modern industrialized nation without a universal health care system. About 84% of the population is insured, either through their employer, the government, or through policies that they've purchased. There are also publicly-funded programs available to help provide coverage for the elderly, disabled, children, veterans and the poor. In fact, the government is responsible for about 45% of health care expenditures, making it the largest insurer in the country. The US government also mandates that emergency medical services must be provided to anyone that requests them, regardless of their ability to pay. Health insurance is not inexpensive, as rates are rising faster than both wages and inflation- in fact, in 2001; over half of the bankruptcies in the country were attributed to "medical causes". What this all means is that the outlook for healthcare jobs is very good!

There are a lot of questions about the US health care industry. In 2000, The World Health Organization ranked the US healthcare system as the best in the world in responsiveness and expenditure, but 37th in overall performance and 72nd in overall level of health- however, that study has been widely criticized as not giving an accurate picture of the industry as a whole, and for the fact that its findings don't correlate very well with surveys of patients about their experiences.

So, what kinds of services are provided by the healthcare industry, and who provides them? That is to say, who is "the industry"? In the US, healthcare is provided by a vast and diverse selection of both individuals and legal entities, funded by a mix of public and private funding. In the year 2004, private insurance paid for about 36% of health expense, out-of-pocket expenses totaled about 15%, the federal government shouldered about 34% of the bill, and state and local governments made up the difference.

Types of Healthcare Services

Ambulatory care- aka "outpatient" care, where no hospital stay is required

Home Health Care = Nursing services, ordered by physicians and provided in the home

General Practice- personal care internal medicine physicians

Specialty Practice- physicians that specialize in a specific area- oncology, for example

Non-Physician - Nurse practitioners and physician assistants.

Where are Healthcare Services typically administered?

For-profit hospitals (usually operated by private corporations)

Nonprofit Hospitals (usually operated by state or county governments, religious organizations or independent nonprofit organizations)

Specialty Clinics such as surgical centers, prenatal, or family planning clinics

Hospice care (for patients with less than 6 months to live, typically subsidized by charities and/or government

What other things does the medical industry do?

Pharmaceutical drugs

Medical equipment/ devices

Medical research

Bear these basic facts in mind when you decide to look for a job in the healthcare industry, and be sure to check back later for part two of my series on healthcare jobs in the US!