Health care is an enormous industry with companies performing everything from research to administering treatment and providing essential equipment. Additionally, this sector includes services like insurance and financing that ensure individuals can afford the care they require.
Health care services providers can be divided into several broad categories. These include those who manufacture pharmaceutical drugs, medical devices and equipment; biotechnology firms conducting research to create new medicines and devices; as well as services providing miscellaneous scientific services for diagnosis, treatment and monitoring patients. There are various companies within this industry ranging from large multinational conglomerates with global presence to smaller family-owned businesses with regional focuses.
Drug manufacturers include Pfizer and J&J as well as numerous smaller firms that produce specialty and generic medicines. Many of these small manufacturers sell their products through wholesale distributors or directly to hospitals or clinics – AmerisourceBergen is an example of such a firm which handles over 20% of US pharmaceutical sales annually, earning annual revenue estimated at over $230 billion.
Medical device companies specialize in researching, designing and producing equipment used for diagnosing and treating patients. Such devices range from heart valves to spinal cord stimulators – each making up a huge segment of the healthcare market. Some well-known device makers include Medtronic and Boston Scientific who both produce pacemakers as well as other implants for medical use.
Another essential category within the health care industry are companies that manage or supply healthcare facilities and services, from hospitals and clinics to long-term care facilities like nursing homes or assisted living communities. Some major players in this segment include Hospital Corporation of America, Cleveland Clinic and Ascension Health.
Health care financing companies specialize in financing healthcare services for both individuals and employers. They pool money collected through individual or employer insurance policies to pay for healthcare services rendered, overseeing payment to providers such as UnitedHealth Group, Anthem and Aetna as needed.
There are also several technology companies making waves in the healthcare industry. AKASA develops software designed to assist healthcare practices adapting to digital disruption by offering solutions such as improved patient engagement, enhanced telehealth delivery and claim submission.
These companies leverage data analytics and machine learning to use technology to help improve patient outcomes, increase efficiency and lower healthcare costs. One tech firm doing just this is Tebra; their software solutions Kareo and PatientPop help streamline workflows, attract patients quickly, streamline billing processes quickly and facilitate telehealth. They accomplish all this using data-driven automation to connect people with healthcare providers they require.