Prepared for Caitlin S. | Delivered July 17, 2020
Houston's Healthcare Industry
To identify and understand the market drivers or factors affecting Houston's healthcare industry.
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 "
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
TMC is the "
business district in the U.S. with 1,345 total acres and $25 billion in GDP."
It also has "
in construction projects underway."
institutions that "have been
as some of the best hospitals and universities in the nation by U.S. News and World Report."
Texas Medical Center has "
patient visits per year" and
emergency room visits each year. It also has more than
surgeries, more than
total heart surgeries, and more than
TMC announced the creation of TMC3 in April 2018. TMC3 is "a multi-institutional
research campus that brings together the best institutions in clinical care, research, and industry."
TMC3, projected to be finished in 2022, will "create nearly
, and bring $5.2 billion to Houston’s economy."
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
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
Based on the Texas Medical Board, "
are licensed in the Houston region, 80.0 percent of which are in Harris County alone."
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