Mayo Foundation - Competitors

Mayo Foundation Competition

Now Viewing Mayo Foundation's competition in: Hospitals (primary)

Recent Developments

Multiple Problems in New Jersey Hospitals - New Jersey hospitals' financial problems will likely worsen, according to The Washington Post. Budget cuts, immigration, and a large number of uninsured patients have resulted in six hospital closures in the past 18 months, with up to 50 percent of the state's other hospitals losing money. New Jersey's 2009 budget, which includes an 18 percent cut for the uninsured, may make next year's problems worse.

Study Makes Waves in US Health Community - Radio frequency identification (RFID) chips are used in many different devices, including hospital equipment, for security and tracking. New research in the Journal of the American Medical Association indicates that RFID chips used in hospital equipment may interfere with sensitive equipment and devices, such as pacemakers. While major health agencies don't yet know the scope of the problem, some hospitals are testing devices for possible interference, and the FDA is doing its own tests.

Terrorism, Other Disasters Result in Funding - As part of its ongoing Hospital Preparedness Program (HPP), the HHS will soon distribute additional funding to hospitals to help them plan for responses to natural disasters and terrorist attacks. The HPP is due to receive nearly $400 million of an overall $1.1 billion. Because many hospitals would be first responders in an emergency, their role is featured prominently in the HHS' funding considerations.

Competitive Landscape

Demand for hospital services is driven by demographics and advances in medical care and technology. The profitability of individual companies depends on efficient operations, since many hospitals offer similar services. Large companies have advantages in buying supplies, sharing best practices, and negotiating contracts with health insurers. Large hospitals may offer a wider variety of services. Small hospitals can compete successfully by serving a limited geographical area or offering specialized services. Hospitals are labor-intensive: annual revenue per employee is close to $100,000.

Full Industry Overview For Hospitals

Hospitals Industry Forecast

from Hoover's/D&B subsidiary First Research

US personal consumption expenditures for hospitals are forecast to grow at an annual compounded rate of 5.3 percent between 2007 and 2012.

Consumer Spending Growth on Hospital Services Steadies

First Research forecasts are based on INFORUM forecasts that are licensed from the Interindustry Economic Research Fund, Inc. (IERF) in College Park, MD. INFORUM's "interindustry-macro" approach to modeling the economy captures the links between industries and the aggregate economy.