9 Awesome Things You Can Learn From Health Care Industry Micro Economic Macro Economic | health care industry micro economic macro economic

The U.S. healthcare industry is the largest employer in the nation with more than one million people directly employed by the industry. The healthcare sector contributes more than a half trillion dollars each year to the country's GDP and is estimated to grow at a rate of five percent over the next decade. Healthcare costs continue to rise, and the average worker pays about eighteen percent of their income to insurance companies. A recent study from the Kaiser Commission on Medicaid and the Uninsured concluded that people on Medicaid were less likely to suffer an injury or become ill in their home or at a work-related environment.

The growth in the health care industry has also led to an explosion of business opportunities for people with different skill sets in all aspects of healthcare. Physicians, nurses and other medical professionals often work in conjunction with healthcare providers, such as hospitals, doctors offices, home healthcare agencies, rehabilitation centers, hospices, nursing homes, home health agencies and other organizations. For example, a physician working in an assisted living facility might be asked to perform surgeries in a doctor's office, while the physician's assistant works as a patient's receptionist at a hospital.

Other industries that have grown during the past ten years in the U.S. include health care sales, information technology, insurance agents, hospitals, pharmaceuticals, health maintenance organizations, pharmaceutical manufacturing companies, health care leasing, nursing homes, medical offices, home health care agencies, hospitals and other nursing care facilities and rehabilitation facilities. All of these industries are highly competitive because people need health services in more difficult situations.

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Microeconomic Macroeconomic Indicators. The economic growth of the healthcare industry has led to an increase in healthcare service cost, as well as a decrease in disposable income, which means that the U.S. economy will experience negative macroeconomic indicators if the healthcare industry continues to expand at the same pace.

Negative Microeconomic Indicators. The two main negative macroeconomic indicators that can occur due to the growth of the healthcare industry include loss of jobs, and the rise in healthcare service cost. The number of jobs lost due to the growth in the healthcare industry is expected to grow over the next ten years, as more people seek medical treatment for the same illness.

However, the U.S. economy can benefit from the healthcare industry's growth because the demand for healthcare is projected to increase over the next ten years. As the number of individuals seeking medical attention increases, so does the demand for health care services that will result in an increase in employment and the creation of new jobs in the healthcare industry.

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