Industry Analysis & Industry Trends
Public and private general hospitals provide acute care to patients. Government-funded public hospitals receive the majority 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 4.3% over the five years through 2015-16, to be worth $62.1 billion... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The General Hospitals industry is in a growth phase of its life cycle as demand for hospital services grows to meet the demands of Australia's ageing population. There has been strong growth in the number of patients treated. Healthcare policy is currently focused on addressing the needs of the ageing population and the growing prevalence of chronic illnesses such as diabetes and heart disease.
Industry value added (IVA) measures the industry's contribution to the overall economy. IVA is forecast to climb by a compound annual rate of 2.9% over the 10 years through 2020-21. This slightly exceeds projected growth in Australia's real GDP at a compound annual rate of 2.6% over the same period, indicating that the industry's contribution to the overall economy is expanding... purchase to read more