First Research US Industry Profile

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Cardiologists
SIC Codes: 8011
NAICS Codes: 621111
Last Quarterly Update: 9/30/2024
Companies in this industry are engaged in diagnosing and treating disorders of the heart and blood vessels, which make up the cardiovascular system. Cardiologists operate through office-based private practices, health care organizations, and hospitals, as well as academic, government, or research institutions. Leading institutions for cardiology and heart surgery include The Cleveland Clinic and the Mayo Clinic (both based in the US), along with Bangkok Hospital (Thailand), Gleneagles Hospital (Singapore), and Narayana Health (India).
Cardiovascular disease (CVD) is the leading cause of death globally, according to the World Health Organization. Yearly, about 20 million people die from CVDs.
Physicians, including cardiologists and cardiovascular specialists, have about 212,000 firms with $470 billion as annual revenue.
Competitive Landscape
Along with other physicians, cardiologists face pressure from government payers and insurers to lower costs while improving quality of care. The profitability of individual practices depends on the reputation, cost, operational efficiencies, and expertise of doctors and staff. Large practices have advantages in leveraging administrative processes and expensive diagnostic equipment and are more likely to accept Medicare and Medicaid than smaller practices. Small practices can compete effectively by providing good customer service. Demand for cardiology services is driven by the rate of cardiovascular disease (which is related to demographics and the obesity rate), as well as the availability of health insurance coverage.
Cardiologists may face competition from general practitioners who manage cardiovascular medicines, as well as other types of vascular surgeons and interventionists. Physicians practicing in urban areas generally have several direct competitors in the immediate geographic area, while access to care may be restricted in rural communities. While cardiologists have traditionally operated in independent or small group practices, the reimbursement shift toward pay-for-performance standards is driving a large number of practitioners to join larger health care networks.
The US industry is highly fragmented: the top 50 companies account for about 20% of industry revenue.
Products, Operations & Technology
Cardiologists diagnose, treat, and work to prevent disorders affecting the heart and circulatory system through?interventional and nonsurgical techniques, ... plus:
Sales & Marketing
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Finance & Regulation
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Regional & International Issues
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Human Resources
Also includes the following chapters:
Quarterly Industry Update
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Industry Indicators
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Business Challenges
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Trends and Opportunities
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Call Preparation Questions
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Financial Information
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Industry Forecast
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Industry Websites
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Glossary of Acronyms

Historical Profiles (PDF format)

07/29/2024
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11/13/2023
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03/20/2023
12/05/2022
08/15/2022
05/02/2022
01/10/2022
12/27/2021
09/27/2021
06/21/2021
03/15/2021
11/30/2020
09/14/2020
06/03/2020
03/02/2020
05/06/2019
02/11/2019
11/05/2018
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11/06/2017
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10/31/2016
08/01/2016
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10/26/2015
07/27/2015
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08/19/2013
05/27/2013
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11/26/2012
09/03/2012
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03/26/2012
12/12/2011
09/19/2011
06/13/2011
03/14/2011