Presentation is loading. Please wait.

Presentation is loading. Please wait.

Business Week Online What’s Propping Up the Economy Friday, September 15, 2006 by Michael Mander & Joseph Weber.

Similar presentations


Presentation on theme: "Business Week Online What’s Propping Up the Economy Friday, September 15, 2006 by Michael Mander & Joseph Weber."— Presentation transcript:

1 Business Week Online What’s Propping Up the Economy Friday, September 15, 2006 by Michael Mander & Joseph Weber

2 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

3 Economic Growth - Health Care System New health care related jobs since 2001 – 1.7 million. Without these jobs, estimated unemployment rate +1% to 2%.

4 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.

5 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.

6 Projected Growth in Employment 2004 – 2014 (Occupational Outlook Quarterly - Winter 2005-06) Fastest Growing Occupations *Home Health Aides56% Network Systems Analysts55% *Medical Assistants52% *Physician Assistants50% Computer Software Engineers48% *Physical Therapist Assistants44% *Dental Hygienists43% Computer Software Engineers43% *Dental Assistants43% *Personal and Home Care Aide41% Network and Computer Administrators38% Database Administrators38% *Physical Therapists37% Forensic Science Technicians36% Veterinary Technologists35% *Diagnostic Medical Sonographers35% *Physical Therapists Aides34% *Occupational Therapist Assistants34%


Download ppt "Business Week Online What’s Propping Up the Economy Friday, September 15, 2006 by Michael Mander & Joseph Weber."

Similar presentations


Ads by Google