Industry Analysis & Industry Trends
General medical practitioners (GPs) are primary caregivers, the first point of contact for people seeking health care, and they are trained in the total health care of the whole person. GPs are the gatekeepers of the health-care system, referring patients to secondary health-care providers like hospitals and medical specialists, where appropriate. The industry is overwhelmingly dominated by publicly funded practices, whilst private practices account for just over 6% of industry revenue. Over the past five years, the industry has undergone a shake-up as the government has restricted funding for GPs and implemented a number of changes regarding how practices are funded and administered. As a result, industry revenue is expected to increase at a compound annual rate of 0.9%... purchase to read more
Industry Report - Industry Investment Chapter
The capital intensity of an industry is determined by comparing the human and equipment factors of production using wages and depreciation costs as proxies. High depreciation costs indicate a high level of investment in depreciable assets such as buildings and equipment, suggesting high capital intensity. Conversely, high wage costs demonstrate high labour intensity.
The General Medical Practices industry exhibits a low level of capital intensity. This is reflected by its capital-to-labour ratio, which indicates that for every £1.00 spent on the use and replacement of capital equipment, £45.72 is spent on wages. Labour costs are estimated to account for 68.6% of industry revenue while depreciation expenses make up a modest 1.5%. Thi.. purchase to read more