First Research US Industry Profile

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SIC Codes: 8011
NAICS Codes: 621111
Last Quarterly Update: 5/6/2019
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 India's Narayana Health, Singapore's Gleneagles Hospital (part of Parkway Holdings), and Thailand's Bangkok Hospital.
Cardiovascular disease (CVD) is the leading cause of death globally, according to the World Health Organization. About three-fourths of CVD deaths occur in low- and middle-income countries.
About 52,000 cardiologists and cardiovascular specialists practice in the US, according to the American College of Cardiology.
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.
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
Finance & Regulation
Regional & International Issues
Human Resources
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Quarterly Industry Update
Industry Indicators
Business Challenges
Trends and Opportunities
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Financial Information
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