Health care is a recession free industry. The world health care industry is generating the maximum number of jobs during the economic meltdown. The average job creation in this sector is three to four people per hospital bed. The industry currently creates about 1.5 million to two million jobs every year. It has predicted that this momentum will be maintained for the next 15 years. Recession had not hit health care industry in any way. Health care industry is creating an equal number of jobs in both health care and medical fields. Thirty five percent of employees are in other medical functions such as administration, management, marketing and IT professionals. Today the industry requires medical transcriptionist, medical equipment industry, and pharmaceutical industry to manage hospital systems.
A decade ago, most hospitals were run by doctor-entrepreneurs, who treated patients and also performed management roles. But now the industry has turned professionals. There is an expert for each job role. So many jobs are being created in the industry because it has turned professional. First, for example the doctor who owns a nursing home or hospital no longer looks after the administration. New age hospitals have adopted the latest management professionals. The need for such a department was not visualized earlier. But as medical sector turn professional they are being run like organizations. Second, the growth is being spurred by greater corporate presence in the sector. New term like medical transcription, medical tourism, healthcare outsourcing, medical back office support and a booming clinical diagnostics segment are suddenly gaining currency. Increasing health awareness among the youth, a metropolitan lifestyle and an increasing percentage of household expenditure on health are the key reasons for this growth.
All this is expected to give a huge boost to employment in the medical and health care segment. Medical tourism too has added a new zing to the success story of South Asian nation’s health care industry mainly Indian health care. A majority of international patients are from the UK and US to India where health care facilities at one seventh of the costs in the US.
Job opportunities exist in various segments including R&D, production, quality assurance, sales and marketing as well as regulatory sector. Biotechnology is also creating new job avenues in the medical field. Clinical research has become the hot new area of work. Promotions are based on performance and competency as well as organizational requirements.
Health care sector will keep generating a huge number of jobs. The medical and healthcare sector is witnessing a sky rocketing demand for all medical and health care professionals.