A Brief Note On The Health Care Sector Essay

Globalization in healthcare is a topic that has been the subject of many debates worldwide. While practically the entire world is becoming a global village due to globalization, the healthcare industry was considered to be invulnerable to this trend. This was attributed to the fact that healthcare is a service industry, where service is delivered on area of purchase. However many developments not only in the healthcare industry but in the entire economical sphere as a whole have seen the aspects of globalization. As a result globalization in the healthcare industry is a common phenomenon in the contemporary world. As the healthcare industry across global boundaries becomes increasingly intertwined,

People are living longer, population is increasing by the day. Public spending is insufficient hence the infusion of private funds can assist in providing the 1st class health service that the people required.

The health care system is one of the largest industries in the nation. It employs nearly twelve and a half million people. Even though this many people are employed by health care systems, there is little to no competition between the many different systems. This results in the cost being whatever the system wants. People who are ill or

Healthcare is the prevention, diagnosis, and treatment of illnesses, diseases, and injuries. It a very important part of everyone 's lives, no matter where they live. Every country has their own type of healthcare that helps take care of the cost of medical attention. There are four models of healthcare systems that every country generally follows. Much government makes changes to the models in order to better accommodate their needs. There are many components and plans in healthcare systems that allow the systems to operate the way they do. The United States and France are two examples of countries with very different

Healthcare industry: The healthcare industry provides a wide variety of services such as healthcare insurance, medical care service, pharmaceutical services, etc..

Health service in most cases is crafted by the economic and social values systems of each respective country. It contributes to a country’s economic GDP (gross domestic product), by creating various areas of employment opportunities, examples including and not limited to the delivery of medical services, research and development of new drugs for the treatment of various ailments, insurance services to name a few (Barton, 2010, p. 3).

The healthcare field encompasses different areas and specialty. Most common is the hospital or emergency room. When most people

Healthcare spending growth rate trends show astounding estimates. Since 1960, spending has risen from $27 billion ($143 per capita, 5.1% pf GDP) to amazing $1,678.9 billion ($5,670 per capita, 15.3% of GDP, 2003 data) (HHS, 2005). Recent research estimated that by 2013, healthcare spending will be as high as 18.4% of the Growth Domestic Product. It is important to note that the gradual move from hospital to ambulatory setting has resulted in much higher spending on outpatient hospital services and prescription drugs. The spending growth for these two trends is much higher than the overall healthcare cost growth, which, in fact, increases faster than such important economic indicators as GDP growth, inflation growth, and population growth rates.

The American health care industry is one of the nation's largest and most profitable industries (Healthcare, 2011). The American healthcare industry "has consistently increased its share of GDP from only 7.2% in 1970 to more than 16.0% in 2008" and that figure is still growing (Van Horn, 2010). It is also one of the few American industries that is expected to grow in the next few decades. In fact, the healthcare industry in America is expected to generate 3.2 million new jobs through the year 2018, which is more than any other American industry (Healthcare, 2011). This industry includes everything "from small-town private practices of physicians who employ only one medical assistant to busy

A key piece of information in putting together the healthcare financial puzzle is to look at how healthcare dollars are spent. Hospital care is the single highest spending category at 31% with providers and clinical services at 20%. Not surprisingly when cuts are proposed, these big ticket items are looked at first.

Healthcare can be described as the maintenance and improvement of health using different measures such as diagnosis, prevention and treatment of illnesses, diseases, injuries, physical and mental impairment in human beings. The providers of healthcare are referred to as practitioners. In the United States, there are various organizations which provide healthcare services. the government hospitals and other healthcare facilities constitute 21%, for-profit organization constitute 21% and 58% of the hospitals are owned by the non-profit organizations.

The major problem, they have within the healthcare industry is the lack of government funding and the total expenditure on health per capita is $109, compared to the $7290 per capita in the United States. Healthcare consumes 4.9% of India’s GDP versus the 16% in the United States. The outcomes equal long lines, fewer facilities and inefficient staff. The supply of healthcare in India is on par with that in sub-Saharan African countries. According to the World Bank, 75% of all health expenditures is in the private sector, where 90% of healthcare costs are paid out-of-pocket.

The overall Indian health care market today is US$ 65 billion, of which the hospital supplies and health care equipment segment is believed to be only around US$ 4.5-5 million. Health care delivery, which includes hospitals, nursing homes and diagnostics centers, and pharmaceuticals, constitutes 65 per cent of the overall market

Health related expenditure increased from 82.9 billion in 2001-02 to $140.2 billion in 2011–12 (AIHW), Total health expenditure has grown in real terms at an average rate of 5.4 per cent per year over the last decade, while GDP has grown only at 3.1 per cent per year. Majority of the

Apart from having the public sector, we also have a well established private sector The private sector absorbs 32% of the total expenditure on health in the country. . In a year, the private sector has 27, 000 admissions for in-patient treatment, undertakes 13,000 surgical operations and delivers over 2,000 babies. Some people choose private hospitals instead of public hospitals due to better service quality and admission procedures. There are reliable doctors and nursing officers and their attitude are courteous and they are more hospitable and are ready to help.