| SIC Codes: | 8011 |
| NAICS Codes: | 621111 |
Companies in this industry are engaged in diagnosing and treating disorders of the heart and circulatory system. No major companies dominate the industry.
Demand for cardiology services is driven by demographics, changes in health insurance regulations, and the obesity rate. The profitability of individual practices depends on the reputation and expertise of the cardiologist and staff. Large practices have advantages in leveraging administrative processes and expensive diagnostic equipment. Small practices can compete effectively by providing good customer service. Cardiologists compete against general practitioners and other physicians that diagnose and manage cardiovascular conditions; cardiologists may also have direct competitors in the immediate geographic area.
Cardiologists diagnose and treat disorders affecting the heart and circulatory system through surgery, interventional and nonsurgical techniques, and medication. About 65 percent of cardiology doctors are considered general cardiologists, and the rest provide more specialized services. Interventional cardiology, which includes such nonsurgical techniques as angioplasty, makes up about 20 percent of the segment; pediatric cardiology and electrophysiology make up about 8 percent and 7 percent, respectively.