The Wall Street Journal had a story yesterday on how the recession is hitting health care. In a departure from the norm during recessionary periods: some health care organizations are struggling.
Growth possibilities in the industry remain high; but, the (new) value conscious customer/consumer/patient will have a flattening effect on that growth.
Interesting; from this:
More than 16 million people — one in eight workers on U.S. payrolls — work in health care today, up from just 1% of the work force 50 years ago.
Wow! To this:
She [Kim King] and her ex-husband, a corrections officer, “used to joke that we had the most secure jobs out there, because people always need health care and prisons. It’s not true anymore,” she says. “I’ve never seen it so bad. It’s the one thing you would think wouldn’t be affected by the recession.”
“It’s a long-term shift reflecting changes in technology and what consumers want,” says Robert Fogel, a Nobel laureate and professor at the University of Chicago’s Booth School of Business. “Health care is the growth industry of the 21st century.”