The delivery of modern health care depends on an expanding interdisciplinary team of trained professionals.
The health care industry, or medical industry, treats patients who are injured, sick, disabled, or otherwise physically or mentally infirm, and maintains general health in populations and communities through the promotion of healthy behaviors and prevention of disease.
For purposes of finance and management, the healthcare industry is typically divided into several groups and sectors. The Global Industry Classification Standard and the Industry Classification Benchmark divide the industry into two main groups: (1) health care equipment & services; and (2) pharmaceuticals, biotechnology & related life sciences. Health care equipment and services comprise companies and entities that provide medical equipment, medical supplies, and health care, such as hospitals, home health care providers, and nursing homes. The second industry group comprises sector companies that produce biotechnology, pharmaceuticals, and miscellaneous scientific services.
Other approaches to defining the scope of the health care industry tend to adopt a broader definition, also including other key actions related to health, such as regulation and management of health services delivery and administration of health insurance.
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Source: U.S. Department of Labor, Bureau of Labor Statistics
NAICS Code: 62 - Health Care & Social Assistance
