Thursday, 5 April 2012

Vital signs

Propelled by recent legislative reform and the ever-aging population, the healthcare industry has never been sprier.
Just take a look at the numbers. Healthcare and social assistance had second-quarter revenue of $459.8 billion, up 2.3 percent from the same time last year, according to the U.S. Census Bureau. In fact, 10 of the 20 fastest-growing occupations are healthcare-related, and the industry will generate 3.2 million new jobs between 2008 and 2018, more than any other industry, according to the U.S. Department of Labor.
"With costs on the rise and access to the healthcare system expanded, the technology and services sectors are poised for growth," says Bob Higgins, Harvard business professor and partner of Highland Capital Partners, a Boston venture capital firm partnering with healthcare entrepreneurs. "We're aggressively seeking innovative IT solutions that improve quality while decreasing cost."
The home care industry, which employs 1.3 million people now, is expected to increase by a vibrant 50 percent over the next decade.
And revenue is expected to surpass $72 billion in 2011, according to the Bureau of Labor Statistics. This growth is driven by graying boomers and hospitals' recent push for shorter stays--"24 and out the door." A lovely euphemism. --K.O.

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