Healthcare

The Health Services subdivision includes entities that primarily provide direct treatment to patients, or perform auxiliary services in support of treatment. Health services entities that provide direct treatment to patients include general hospitals, general practices and physiotherapy clinics, while auxiliary service providers include pathology and diagnostic imaging.

The Health Services subdivision includes a range of services and facilities. General hospitals account for roughly half of the subdivision’s revenue, with general practitioners, specialists and dentists also accounting for significant portions. Australia’s growing and aging population, combined with expanding private health insurance coverage, has generated strong demand for health services over the past five years. While rising private health coverage has provided significant benefits to allied health services, the aging population has strengthened demand across the subdivision. With rapidly increasing patient volumes, health services revenue is forecast to grow by a compound annual rate of 4.2% over the five years through 2015-16, to be worth $123.1 billion.

General hospitals provide diagnostic, medical and surgical services and continuous inpatient nursing care. Public hospitals are owned by state and territory governments across Australia and also receive funding from the Federal Government. Public hospitals generally provide patients with free healthcare through government funding

Source of Report – IBIS world (http://www.ibisworld.com.au)