Los Angeles, CA (PRWEB) April 03, 2013 </p><p> Although children's specialty hospitals represent less than 5.0% of all hospitals in the United States, they are the backbone of the pediatric healthcare infrastructure. Due to the indispensable nature of services provided by these hospitals, industry demand has remained strong over the past five years. Furthermore, children's hospitals benefit from a unique mix of revenue sources. Unlike adults, the vast majority of children have some type of health insurance coverage, either through their parents' private, employer-sponsored plans, Medicaid or the Children's Health Insurance Program, says IBISWorld industry analyst Anna Son. As a result, the number of uninsured children has fallen dramatically since 1987, further bolstering demand for and affordability of hospital services. During the five years to 2013, IBISWorld estimates that revenue for the Children's Specialty Hospitals industry will increase at an average annual rate of 3.3% to $ 23.3 billion, including an anticipated 4.0% jump in 2013.</p>
<p>Nevertheless, the Children's Specialty Hospitals industry has faced some headwinds along the way. On average, children's hospitals devote more than half of their patient care to children reliant on Medicaid, while receiving only about 78.0% of the total cost of the care provided to Medicaid patients, according to the National Association of Children's Hospitals and Related Institutions. Furthermore, while Medicaid is spared at the federal level, a number of states continue to pressure the program locally, thus exposing the industry to potential risks relating to changes in Medicaid reimbursement. In addition, the ongoing shortage of physicians and nurses in children's hospitals hampers patient treatment by delaying care, adds Son. As a result of this shortage, hospitals incur high labor costs to recruit and retain qualified medical personnel.</p>
<p>The industry has a low market share concentration and is characterized by many small-scale, geographically dispersed participants. This low concentration indicates that the industry is highly fragmented and that there is significant scope for facility expansion by some of the industry's major players, including Children's Hospital of Philadelphia and Children's Medical Center of Dallas. Lucile Packard Children's Hospital is currently looking to expand its existing facilities, with a goal of adding 104 new beds by 2017. IBISWorld estimates that market share concentration has increased over the five years to 2013, as many participants experienced a severe drop in revenue during the economic downturn.</p>
<p>Over the five years to 2018, healthcare reform, reimbursement trends and medical personnel shortages will continue to shape the industry. Demand for hospital services is expected to remain strong, driven by the rising prevalence of chronic conditions among school-aged children, such as asthma, obesity, diabetes and congenital anomalies. The industry will also benefit from an influx of 32.0 million previously uninsured people who will gain healthcare coverage due to healthcare reform, thus reducing the number of patients who are unable to afford paying their hospital bills. For more information, visit IBISWorlds Children's Specialty Hospitals in the US industry report page.</p>
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<p>IBISWorld industry Report Key Topics</p>
<p>This industry includes hospitals that provide diagnostic and medical treatment (surgical and nonsurgical) to inpatients who are typically aged 21 and younger. These hospitals treat a specific type of disease or medical condition (except psychiatric conditions or substance abuse), maintain inpatient beds and provide patients with food services and other services (e.g. outpatient services, X-ray services, laboratory services, operating room services and pharmacy services).</p>
<p>Industry Performance
<br />Executive Summary
<br />Key External Drivers
<br />Current Performance
<br />Industry Outlook
<br />Industry Life Cycle
<br />Products & Markets
<br />Supply Chain
<br />Products & Services
<br />Major Markets
<br />Globalization & Trade
<br />Business Locations
<br />Competitive Landscape
<br />Market Share Concentration
<br />Key Success Factors
<br />Cost Structure Benchmarks
<br />Barriers to Entry
<br />Major Companies
<br />Operating Conditions
<br />Capital Intensity
<br />Key Statistics
<br />Industry Data
<br />Annual Change
<br />Key Ratios</p>
<p>About IBISWorld Inc.
<br />Recognized as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.</p>
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Orignal From: Children's Specialty Hospitals in the US Industry Market Research Report Now Available from IBISWorld
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