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Essay / Research Paper Abstract
A 4 page paper. The writer identifies the four phases of industry growth with comments about the healthcare industry related to each growth stage. The essay also identifies some advances made in the industry, demonstrating why this industry will always be in a growth phase. Bibliography lists 4 sources.
Page Count:
4 pages (~225 words per page)
File: MM12_PGhlgrs5.RTF
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Unformatted sample text from the term paper:
other sectors and sub-sectors and also because of continuous innovations, scientific discoveries, technological advances and so on. Consider the definitions of each of the four stages of industry growth with
examples related to health care: 1. The emerging stage (or phase) is one that is at a certain degree of risk because it needs to obtain sufficient funds for research
and development while concurrently offering products to consumers (Bergen, 2008). Lets consider the biomedical sector of the industry. This sector is in its infancy stages, it is an emerging phase.
The emcc (2008) wrote that this sector of the healthcare industry is more advanced in the U.S. than it is in Europe but it is still a young industry, one
that is emerging. Yet, this sector has many very strong sociological, political, technological, economic and environmental drivers (emcc, 2008). This sector will probably remain in the emerging phase for a
longer period of time than it should because of the controversies surrounding it (emcc, 2008). That said, it is nonetheless a growing industry. 2. During the growth stage, the industry
is rewarded with much greater revenues and profits. This is especially true in rapid growth industries. It is the time when companies can lower their prices because of the volume
of sales (Bergen, 2008). Consumers have accepted products from the sector or the entire industry and, in fact, demand more of them (Bergen, 2008). In healthcare, consider the growth of
technology in all aspects of the industry. Sun Microsystems (2008) wrote: "The future of healthcare looks bright. Its a world where technology comes to the aid of everyone -- not
just patients and practitioners but also labs, clinics, hospitals, insurers, administrators, and data centers." Technology is providing integration of services in all sectors of the healthcare industry, for example, multi-location
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