Business Week Online

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Business Week Online Whats Propping Up the
Economy Friday, September 15, 2006 by Michael
Mander Joseph Weber
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Health Care System Challenges

• Burgeoning Costs
• Cost of health care and insurance leaving 47
  million Americans uninsured.
• The 2005 estimate of health care costs for the
  Federal Government totaled 604 billion, or
  25.2 of the total budget.
• Overall health care spending totaled 2
  trillion, one-half private and one-half public.
• Labor Intensive
• Inefficiencies
• Lack of Access

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Economic Growth - Health Care System
New health care related jobs since 2001 1.7
million. Without these jobs, estimated
unemployment rate 1 to 2.
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Regional Job Growth in Health Sector
Pennsylvania (Jonestown) Population 1950
63,000 Population 2006 23,000 Historically
employed workers in steel mills, coal mines, and
other factories. Currently, Conemaugh Health
System is the largest employer with 5000
employees. North Carolina Overall state job
growth increased by 24,000. Overall job growth
in the health care industry increased by 60,000
jobs. Michigan (West Bloomfield) Henry Ford
Health System is building a 300 bed hospital that
will employ 1200 workers.
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Regional Job Growth in Health Sector
The Shining Star Ohio (Cleveland) In the recent
past, the largest employers were manufacturers
Warner Swassey Co. and TRW. Currently, the
largest employers are Cleveland Clinic
employs 29,000 University Hospitals Health
System employs 21,600 Progressive Corp. and
Key Corp. each employ less than 10,000. The
Economics The Multiplier The Cleveland Clinic
supports a total of 75,000 jobs in the Cleveland
area. 2.9 million patient visits per year
support hotel, restaurant, and service
industries. The Clinic uses three thousand area
suppliers.
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Projected Growth in Employment 2004
2014 (Occupational Outlook Quarterly - Winter
2005-06)
Fastest Growing Occupations
Home Health Aides 56 Network Systems
Analysts 55 Medical Assistants 52 Physician
Assistants 50 Computer Software
Engineers 48 Physical Therapist
Assistants 44 Dental Hygienists 43 Computer
Software Engineers 43 Dental
Assistants 43 Personal and Home Care
Aide 41 Network and Computer Administrators 38 D
atabase Administrators 38 Physical
Therapists 37 Forensic Science
Technicians 36 Veterinary Technologists 35 Di
agnostic Medical Sonographers 35 Physical
Therapists Aides 34 Occupational Therapist
Assistants 34