Industry Analysis & Industry Trends
The General Practice Medical Services industry has grown healthily over the past five years. General practitioners (GPs) are the first point of contact in the medical system, providing direct treatment to patients or diagnosing their problem and referring the patient to a specialist or a general hospital. GPs receive strong Federal Government assistance through Medicare, which covers a schedule fee for each consultation. Bulk-billing, which involves GPs just charging the schedule fee, has climbed to 82.0% of all consultations over the past five years. This means that more patients have been able to visit their GP for health problems without any out-of-pocket cost.
Strong demand for GP services has resulted in industry revenue rising by a compound annual rate of 3.5%... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The General Practice Medical Services industry is in the growth phase of its life cycle. GPs provide essential medical services that are partially or fully covered by Medicare. All Australians have access to GPs for free or at low cost. Therefore, industry demand is driven by population growth and the ageing of Australia's population. Older people use a far greater volume of GP services than younger people. With individuals aged 65 and over increasingly taking up a greater percentage of the population, industry revenue has grown.
Industry value added (IVA) measures an industry's contribution to the overall economy. IVA is forecast to grow at a compound annual 3.7% over the 10 years through 2018-19... purchase to read more