Student Is To Research And Provide An Abstract Of A C 151843
Student Is To Research And Provide An Abstract Of A Current Publicatio
Student is to research and provide an abstract of a current publication. This publication could be a written study, commentary, news story etc (article) just as along as it is was published within the past 18 months. Your summary should not be more than two double spaced typed pages using APA format and address how the chosen article provides information specific to the following learning objectives: (Exercise 3) Determine the size and scope of the health care industry. You will need to pull in additional resources to support your opinion and overview of the topic. For example you will need 1 main article and 2 support references.
Paper For Above instruction
In the dynamic landscape of healthcare, understanding the size and scope of the industry is crucial for stakeholders, policymakers, and providers to make informed decisions. The article selected for this analysis, titled "The Healthcare Industry in 2023: Trends and Challenges," published by Health Economics Review in August 2023, provides a comprehensive overview of current trends that influence the industry’s vastness and reach. Based on a recent report by the Centers for Medicare & Medicaid Services (CMS), the healthcare sector continues to expand, driven by technological advancements, demographic shifts, and policy reforms (CMS, 2023). This growth encompasses a wide array of services, including hospital care, outpatient services, pharmaceuticals, and emerging telehealth platforms.
The article emphasizes that the healthcare industry’s size is best understood through its economic contribution, employment figures, and consumer expenditure. According to the report, the U.S. healthcare industry generated over $4.3 trillion in revenue in 2022, accounting for approximately 18% of the gross domestic product (GDP), indicative of its significant scope. The sector also employed over 16 million workers, reflecting its role as a primary employment driver. Such statistics highlight how the industry's scale is intertwined with national economic stability and employment.
Furthermore, the article discusses the scope of the healthcare industry as extending beyond traditional clinical services to encompass technological innovations and administrative services. Telehealth, in particular, has seen exponential growth, expanding access and reducing costs in recent years. According to supporting data from the American Telemedicine Association (2023), telehealth visits increased by 154% in 2022 compared to pre-pandemic levels. These developments demonstrate how the scope of healthcare extends into new modalities and service delivery models, fundamentally transforming the industry.
Supporting the main article, additional resources reveal the broader implications of this expansion. A report by the World Health Organization (WHO) (2022) details how global health expenditure reached 10% of GDP across many nations, reflecting a universal trend of healthcare industry growth. Additionally, the Bureau of Labor Statistics (BLS, 2023) projects continued employment growth in healthcare occupations, indicating ongoing industry expansion. These supporting sources reinforce the main article’s perspective on the broadening scope and increasing size of the healthcare sector.
The article also underscores challenges related to managing such a large industry, including rising costs, disparities in access, and the need for policy reforms. These issues are critical to understanding the industry's complexity and potential directions for future growth and regulation. As healthcare continues to grow in size and scope, integrating technological innovations, policy developments, and demographic factors will be essential in shaping its future trajectory.
In conclusion, the selected article offers valuable insights into the current state of the healthcare industry, emphasizing its extensive size and broad scope. Supported by additional credible sources, the discussion highlights key indicators such as economic contribution, employment, technological expansion, and global trends that define the industry today. Understanding these aspects is essential for stakeholders aiming to navigate and influence the evolving healthcare landscape effectively.
References
American Telemedicine Association. (2023). Telehealth utilization report. https://www.americantelemed.org
Bureau of Labor Statistics. (2023). Employment projections in healthcare. https://www.bls.gov
Centers for Medicare & Medicaid Services. (2023). National health expenditures data. https://www.cms.gov
World Health Organization. (2022). Global health expenditure report. https://www.who.int