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Research Outline
Prepared for Caitlin S. | Delivered July 17, 2020
Houston's Healthcare Industry
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Goals
To identify and understand the market drivers or factors affecting Houston's healthcare industry.
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Early Findings
Texas Medical Center (TMC)
One of the major market drivers of Houston's healthcare industry is the Texas Medical Center.
The Texas Medical Center is the "
world's largest
concentration of expertise in medical treatment and care, medical research, and medical technology." It "represents one of Houston's major economic drivers and core industries with an estimated regional annual economic impact of
$20 billion
."
TMC is the "
8th largest
business district in the U.S. with 1,345 total acres and $25 billion in GDP."
It also has "
$3 billion
in construction projects underway."
TMC has
61 member
institutions that "have been
consistently recognized
as some of the best hospitals and universities in the nation by U.S. News and World Report."
Texas Medical Center has "
10 million
patient visits per year" and
750,000
emergency room visits each year. It also has more than
180,000
surgeries, more than
13,600
total heart surgeries, and more than
106,000
employees.
TMC3
TMC announced the creation of TMC3 in April 2018. TMC3 is "a multi-institutional
30-acre
research campus that brings together the best institutions in clinical care, research, and industry."
TMC3, projected to be finished in 2022, will "create nearly
30,000 jobs
, and bring $5.2 billion to Houston’s economy."
Employment
Houston, being the "home to the largest medical complex in the world," employs more than
366,000 healthcare workers.
The "ambulatory health care accounts for
43.6 percent
of the sector employment, hospitals for 32.5 percent and social assistance, nursing and residential care for 23.9 percent."
In 2019, the "average annual wage for the entire industry was
$54,337
."
Based on the Texas Medical Board, "
18,529 physicians
are licensed in the Houston region, 80.0 percent of which are in Harris County alone."
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