Most of us are well aware of the rising costs of health care. It will not comes as a surprise to see that revenues for hospitals in the United States have seen steady increases year-over-year, despite recessions, slow-downs, housing bubbles, financial melt-downs, or any other events that disrupt the economy. This is not to suggest that individual hospitals may not have struggled during our most recent recession, however, as a whole, the hospital industry has seen nothing but rising revenues for well over a decade.
Today’s market size is the revenue earned by hospitals in the United States in 2005 and 2010. Revenues increased over this period by 30.4%, more than twice the rate of inflation during over the same period which was 12.8%. To your health!
Geographic reference: United States
Year: 2005 amd 2010
Market size: $620.85 billion and $809.47 billion respectively
Source: Yearbook 2010, “Table 1 – Selected Services, Estimated Quarterly Revenue for Employer Firms,” page 9, Annual Benchmark Report for Services through 2010, a series of reports put out by the Census Bureau in conjunction with their Service Annual Survey, published every non Economic Census year. The table from which today’s market size is taken is available online here.
Original source: U.S. Department of Commerce, Economics and Statistics Administration, U.S. Census Bureau
Posted on September 20, 2011