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| Products/Services Breakdown | |
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| Financial Metrics | |
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2024 U.S. Industry Statistics & Market Forecast - General Medical and Surgical Hospitals
Market Size & Industry Statistics
The total U.S. industry market size for General Medical and Surgical Hospitals:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The General Medical & Surgical Hospitals industry is a crucial component of the healthcare sector and is responsible for providing a vast array of medical services to patients. Overall, the industry is experiencing several key trends that are transforming the way healthcare organizations operate and deliver care to their patients.One of the most significant trends affecting the industry is the shift towards value-based care. This approach emphasizes improving patient outcomes and reducing the cost of care, as opposed to the traditional fee-for-service model. As a result, hospitals are focusing on preventive care, reducing readmissions, and collaborating with other healthcare providers to deliver coordinated care.
Another trend is the increasing adoption of technology. Hospitals are investing in electronic medical records, telehealth services, and remote monitoring tools to improve patient care and efficiency. In addition, many organizations are using data analytics to identify trends, improve operational efficiency, and enhance clinical outcomes.
The industry is also seeing a rise in patient empowerment and engagement. Patients are taking an active role in their healthcare decisions and are demanding more transparency and access to their medical records. Hospitals are responding by providing patient portals, telemedicine, and other tools to engage patients and improve their overall experience.
Lastly, the industry is facing challenges related to staffing and recruitment. The demand for healthcare services is increasing, and hospitals are struggling to recruit and retain qualified healthcare professionals. Healthcare organizations are responding by investing in employee training and educational programs, increasing compensation and benefits, and exploring innovative staffing models.
In conclusion, the General Medical & Surgical Hospitals industry is experiencing several significant trends that are transforming the way healthcare organizations operate and deliver care to their patients. As the industry continues to evolve, hospitals must remain agile and adaptable to succeed in this ever-changing environment.
Product & Services Breakdown
Research products and services in the General Medical and Surgical Hospitals industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Patient Care, Related To Icd-9 Major Category, Based On Primary Diagnosis |
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Patient Care - Infectious And Parasitic Diseases (Icd-9 Codes 001-139) |
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Patient Care - Neoplasms (Tumors) (Icd-9 Codes 140-239) |
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Patient Care - Endocrine, Nutritional And Metabolic Diseases, And Immunity Disorders (Icd-9 Codes 240-279) |
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Patient Care - Diseases Of The Blood And Blood-Forming Organs (Icd-9 Codes 280-289) |
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Patient Care - Mental Disorders (Icd-9 Codes 290-319) |
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Patient Care - Diseases Of The Nervous System And Sense Organs (Icd-9 Codes 320-389) |
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Patient Care - Diseases Of The Circulatory System (Icd-9 Codes 390-459) |
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Patient Care - Diseases Of The Respiratory System (Icd-9 Codes 460-519) |
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Patient Care - Diseases Of The Digestive System (Icd-9 Codes 520-579) |
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Patient Care - Diseases Of The Genitourinary System (Reproductive And Urinary System Organs) (Icd-9 Codes 580-629) |
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Patient Care - Complications Of Pregnancy, Childbirth, And The Puerperium (Icd-9 Codes 630-679) |
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Patient Care - Diseases Of The Skin And Subcutaneous Tissue (Icd-9 Codes 680-709) |
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Patient Care - Diseases Of The Musculoskeletal System And Connective Tissue (Icd-9 Codes 710-739) |
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Patient Care - Congenital (Present At Birth) Anomalies (Icd-9 Codes 740-759) |
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Patient Care - Certain Conditions Originating In The Perinatal Period (Infant) (Icd-9 Codes 760-779) |
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Patient Care - Symptoms, Signs, And Ill-Defined Conditions (Icd-9 Codes 780-799) |
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Patient Care - Injury And Poisoning (Icd-9 Codes 800-999) |
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Patient Care - Supplementary Classification Of Factors Influencing Health Status And Contact With Health Services (Icd-9 Codes V |
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Patient Care - Supplementary Classification Of External Causes Of Injury And Poisoning (Icd-9 Codes E800-E999) |
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Patient Care - All Other Patient Care |
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Home Health Care Bundled Service |
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Home Hospice (End Of Life) Care Services |
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Daily Assisted Living And Skilled Nursing Services Without Rehabilitation Services |
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Daily Assisted Living And Skilled Nursing Services With Rehabilitation Services |
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Acute Long-Term Care Services |
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Research And Development |
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Meals And Beverages, Prepared And Served Or Dispensed, For Immediate Consumption |
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Rental Or Lease Of Goods And/Or Equipment |
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Rental Or Lease Of - All Other Goods And/Or Equipment |
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Rents And Commissions From Departments And Concessions Not Owned And Operated By This Institution (Exclude Gross Sales Or Billin |
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Resale Of Merchandise |
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Resale Of - Pharmaceuticals |
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Resale Of - All Other Merchandise |
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All Other Receipts |
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All Other Operating Receipts |
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Contributions, Gifts, And Grants - Government |
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Contributions, Gifts, And Grants - Private |
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Investment Income, Including Interest And Dividends |
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Appropriations From General Government Revenues And Intergovernmental Transfers (Only Governmental Or Military Institutions Shou |
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All Other Revenue |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a General Medical and Surgical Hospitals company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the General Medical and Surgical Hospitals industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on General Medical and Surgical Hospitals measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 4% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 0% | |||
| Healthcare Practitioners and Technical Occupations | 57% | |||
| Healthcare Diagnosing or Treating Practitioners | 42% | |||
| Registered Nurses | 31% | |||
| Registered Nurses | 31% | |||
| Health Technologists and Technicians | 14% | |||
| Healthcare Support Occupations | 13% | |||
| Home Health and Personal Care Aides; and Nursing Assistants, Orderlies, and Psychiatric Aides | 8% | |||
| Nursing Assistants, Orderlies, and Psychiatric Aides | 8% | |||
| Nursing Assistants | 7% | |||
| Office and Administrative Support Occupations | 11% | |||
General Medical and Surgical Hospitals Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the General Medical and Surgical Hospitals industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the General Medical and Surgical Hospitals industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the General Medical and Surgical Hospitals industry. |
Innovation News
- Nov 10, 2023: Luke Commission trademarks "COMPASSION IS AN UNLIMITED RESOURCE IN A RESOURCE-LIMITED WORLD" - health care and health oriented community support services in underdeveloped countries
- Oct 27, 2023: Illinois Critical Access Hospital Network trademarks "BOARDTRAX FOR HEALTHCARE LEADERSHIP" - Education and training services
- Jul 28, 2023: Mcdonough County Hospital trademarks "MDH" - Healthcare; Hospital services; Pediatric health care services; Providing educational information about healthcare; Providing healthcare information; Provision of health care and medical services by health care professionals via the Internet or telecommunication networks; Telemedicine services
- Jun 22, 2023: Innovasis patents Bone Graft Harvesting
- Mar 30, 2023: Innovasis patents Minimally Invasive Surgery (mis) Methods And Devices
- Mar 09, 2023: Innovasis patents Vertebal Disc Repair
Recent Federal Contracts for General Medical and Surgical Hospitals- Apr 02, 2024: INTEGRATED MEDICAL SOLUTIONS, INC (Mansfield, TX) awarded $150,000
- Apr 02, 2024: MAYO CLINIC (Rochester, MN) awarded $902,209
- Apr 02, 2024: NAPHCARE, INC. (Birmingham, AL) awarded $1,071,988
- Apr 02, 2024: UNIVERSITY OF KENTUCKY (Lexington, KY) awarded $1,000,000
- Apr 02, 2024: AKESO CARE MANAGEMENT, INC. (Indianapolis, IN) awarded $40,000
- Apr 02, 2024: AMERICAN CORRECTIONAL HEALTHCARE, INC. (Burleson, TX) awarded $245,000
- Apr 02, 2024: INTEGRATED MEDICAL SOLUTIONS, INC (Mansfield, TX) awarded $150,000
- Apr 02, 2024: MAYO CLINIC (Rochester, MN) awarded $902,209
- Apr 02, 2024: NAPHCARE, INC. (Birmingham, AL) awarded $1,071,988
- Apr 02, 2024: UNIVERSITY OF KENTUCKY (Lexington, KY) awarded $1,000,000
- Apr 02, 2024: AKESO CARE MANAGEMENT, INC. (Indianapolis, IN) awarded $40,000
- Apr 02, 2024: AMERICAN CORRECTIONAL HEALTHCARE, INC. (Burleson, TX) awarded $245,000
