Industry Analysis & Industry Trends
Public and private general hospitals provide acute care to patients. Public hospitals receive most of their funding from state governments and the Federal Government. Private hospitals generate revenue from private health benefit payments and out-of-pocket patient fees. Demand for general hospitals has surged over the past five years, due to Australia's rapidly ageing population and the prevalence of chronic illness among adults. Private hospitals have received a further boost from increased private health insurance membership. Industry revenue is forecast to increase by a compound annual rate of 3.6% over the five years through 2016-17, to be worth $63.8 billion.
In line with industry trends over the past five years, industry revenue is projected to rise by 3.5%... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry into the General Hospitals industry are high. Public hospitals account for the majority of industry revenue, and are state-owned and state-funded entities. Barriers to entry into the public hospital sector are difficult to determine as the sector does not demonstrate regular industry characteristics. As each state's health department is its own entity, opening new public hospitals can be considered an expansion rather than an entry to the industry.
Private hospitals, although only accounting for about 24% of industry revenue, demonstrate significant barriers to entry for new players. Start-up costs are immense in the private hospital sector... purchase to read more