Industry Analysis & Industry Trends
The Pathology Services industry provides vital information that helps doctors to diagnose and manage a number of diseases. The ageing population and an increase in the prevalence of chronic illness are factors promoting demand for health services and referrals for pathology services. The industry derives the vast majority of its revenue from providing pathology services under Medicare.
The industry is expected to generate revenue of $2.8 billion in 2014-15, representing growth of 2.9% on the previous year. Medicare is expected to record more than 115 million pathology services in 2014-15, up from 93 million services in 2009-10, suggesting strong volume growth over the past five years. The average Medicare rebate is forecast to equal just $20 per service... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The industry is in the mature phase of its life cycle. Rising household incomes, population growth and an ageing of the population will each have positive effects on the demand for medical services generally (and pathology test referrals in particular). Doctors are ordering more pathology tests as the range of available tests increases (as a result of new technology) and as doctors seek to protect themselves from potential negligence claims. Government subsidies reduce the cost to patients of pathology tests - hence promoting spending on tests.
The total number of pathology services provided is projected to increase by an annualised 4.8% over the 10 years through 2019-20... purchase to read more