Industry Analysis & Industry Trends
General hospitals provide acute care, and are split between government-funded public hospitals and private hospitals. Public hospitals receive the majority of their funding from state governments and the Federal Government, while private hospitals primarily source their revenue from private health insurers and out-of-pocket patient costs. Demand for general hospitals has surged over the past five years due to Australia's ageing population and the prevalence of chronic illness among adults. Private hospitals have gained further benefits from steady increases in private health insurance coverage. As a whole, the General Hospitals industry is forecast to grow 3.8% annualised over the five years through 2013-14 to be worth $56.4 billion... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
This industry is in a growth phase of its life cycle as demand for hospital services grows to meet the ageing of the Australian population. There has been strong growth in the number of patients treated, with much of the current focus on healthcare policy directed towards addressing the needs of the ageing population and the growing prevalence of chronic illness 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 3.5% annualised over the 10 years through 2018-19, which exceeds the projected growth in Australia's real GDP of an annualised 2.5% over the same period... purchase to read more