U.s. Healthcare Industry And Its History - 810 Words

I currently work in the U.S. healthcare industry. The U.S. healthcare industry, defined in its broader sense for the purposes of this discussion, includes several other industries (Riggs ed., 2015). Industries that compose the larger U.S. healthcare industry as a whole would include the U.S. hospital system, the pharmaceutical industry, and various other suppliers of medical goods and services. Many of these separately defined industries within the U.S. healthcare industry would be described as being at different stages within the industry life cycle model. However, this discussion will focus on the U.S. healthcare industry as a whole. Utilizing an industry life cycle model as described by Parnell (2014), I would consider the U.S. healthcare industry in the maturity stage of the industry life cycle. This conclusion was reached by examining key characteristics within the U.S healthcare system and its history. Up until the early 20th century, the U.S. healthcare system was composed pri marily of home care rendered by providers without high levels of scientific or technical knowledge compared to today’s standards. This early stage of the U.S healthcare industry would be considered the introduction stage of the industry life cycle. Parnell (2014) reports that the introduction stage of the life cycle is typically fairly short. However, in the case of the U.S. healthcare industry, this introduction stage appears to be prolonged comparative to the progression through the laterShow MoreRelatedThe Success And Viability Of U.s. Healthcare1170 Words   |  5 Pagesviability of U.S. healthcare organizations has become increasingly dependent on their ability to provide high-quality care. 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