NAICS Code 62 - Health Care and Social Assistance

NAICS 62 - Health Care and Social Assistance

NAICS 62 - Health Care and Social Assistance
NAICS 11 - Sector 11--Agriculture, Forestry, Fishing and Hunting NAICS 21 - Sector 21--Mining NAICS 22 - Sector 22--Utilities NAICS 23 - Sector 23--Construction NAICS 31 - Sector 31-33--Manufacturing NAICS 42 - Sector 42--Wholesale Trade NAICS 44 - Sector 44-45--Retail Trade NAICS 48 - Sector 48-49--Transportation and Warehousing NAICS 51 - Sector 51--Information NAICS 52 - Sector 52--Finance and Insurance NAICS 53 - Sector 53--Real Estate and Rental and Leasing NAICS 54 - Sector 54--Professional, Scientific, and Technical Services NAICS 55 - Sector 55--Management of Companies and Enterprises NAICS 56 - Sector 56--Administrative and Support and Waste Management and Remediation Services NAICS 61 - Sector 61--Educational Services NAICS 62 - Sector 62--Health Care and Social Assistance NAICS 71 - Sector 71--Arts, Entertainment, and Recreation NAICS 72 - Sector 72--Accommodation and Food Services NAICS 81 - Sector 81--Other Services (except Public Administration) NAICS 92 - Sector 92--Public Administration

The Sector as a Whole

The Health Care and Social Assistance sector comprises establishments providing health care and social assistance for individuals. The sector includes both health care and social assistance because it is sometimes difficult to distinguish between the boundaries of these two activities. The industries in this sector are arranged on a continuum starting with those establishments providing medical care exclusively, continuing with those providing health care and social assistance, and finally finishing with those providing only social assistance. The services provided by establishments in this sector are delivered by trained professionals. All industries in the sector share this commonality of process, namely, labor inputs of health practitioners or social workers with the requisite expertise. Many of the industries in the sector are defined based on the educational degree held by the practitioners included in the industry.

Excluded from this sector are aerobic classes in Subsector 713, Amusement, Gambling and Recreation Industries and nonmedical diet and weight reducing centers in Subsector 812, Personal and Laundry Services. Although these can be viewed as health services, these services are not typically delivered by health practitioners.

Industry trends:

The Health Care and Social Assistance sector (NAICS 62) has been experiencing significant qualitative trends driven by technological advancements, demographic shifts, and changing consumer preferences. One prominent trend is the integration of telehealth and remote patient monitoring, which gained substantial momentum during the COVID-19 pandemic and continues to be essential for expanding access to care, especially in rural and underserved areas. This trend is expected to grow, driven by ongoing improvements in digital health technologies and regulatory support for telehealth services.

Another key trend is the focus on personalized and precision medicine. As advancements in genomics and data analytics become more mainstream, healthcare providers are increasingly tailoring treatments to individual patients' genetic profiles and lifestyle factors, leading to more effective and targeted therapies.

Workforce shortages in both healthcare and social assistance are becoming more pronounced, prompting organizations to invest in staff training, leverage artificial intelligence for administrative efficiencies, and explore collaborative care models to optimize resource use and improve patient outcomes.

Lastly, there's a significant push towards value-based care, where reimbursements are linked to patient health outcomes rather than the volume of services provided. This shift encourages healthcare providers to focus on quality of care and cost-efficiency, fostering a more sustainable healthcare system.

Forecasts for the near future indicate continued expansion in telehealth services, increased use of AI and machine learning for diagnostics and administrative tasks, and a growing emphasis on mental health services as awareness and destigmatization continue to improve. Additionally, an aging population will drive demand for long-term care and home health services, influencing how resources are allocated within the sector.