NAICS 6221 - General Medical and Surgical Hospitals
This industry comprises establishments known and licensed as general medical and surgical hospitals primarily engaged in providing diagnostic and medical treatment (both surgical and nonsurgical) to inpatients with any of a wide variety of medical conditions. These establishments maintain inpatient beds and provide patients with food services that meet their nutritional requirements. These hospitals have an organized staff of physicians and other medical staff to provide patient care services. These establishments usually provide other services, such as outpatient services, anatomical pathology services, diagnostic X-ray services, clinical laboratory services, operating room services for a variety of procedures, and pharmacy services.
Industry trends:
The landscape of General Medical and Surgical Hospitals, classified under NAICS 6221, is experiencing significant qualitative trends driven by technological advancements and shifting patient expectations. One of the foremost trends is the integration of telemedicine and digital health platforms. This move is driven by the demand for remote patient monitoring and consultations, reducing the need for in-person visits and improving patient access to care.
Another trend is the focus on personalized medicine. Hospitals are increasingly leveraging big data and genomics to offer tailored treatments that cater to individual patient needs, enhancing the effectiveness of medical interventions and patient satisfaction. Moreover, the emphasis on value-based care is reshaping hospital operations. Institutions are prioritizing patient outcomes and efficiency as reimbursement models shift from volume to value.
Staffing shortages remain a challenge, prompting hospitals to explore solutions like artificial intelligence for administrative tasks and robotic process automation to optimize operational efficiency. In response to an aging population, there is a growing focus on geriatric care services, including expanded rehabilitation and chronic disease management programs.
Looking ahead, hospitals are expected to continue adopting smart technologies, such as AI-powered diagnostics and IoT devices, to optimize patient care and operational workflows. The ongoing emphasis on sustainability will drive green initiatives, with hospitals seeking to reduce their carbon footprint through energy-efficient practices and sustainable building designs. As the industry evolves, fostering partnerships with tech companies and startups will be crucial for hospitals to remain competitive and innovative.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.