Healthcare is Growing!
The healthcare industry, one of the fastest growing, is projected to add 2.3 million jobs by 2024 according to the Bureau of Labor Statistics. Home healthcare and dentistry are two areas of the healthcare industry experiencing above-average growth for small business owners.
An aging population, advances in medical technology, and a need to reduce costs resulted in a home healthcare boom which saw the industry valued at nearly $250 billion in 2015. The Bureau of Labor Statistics expects a 38% increase in jobs by 2020 for home health aides who provide comprehensive nursing care, physical therapy, infusion services, and hospice care for patients. Individual providers can start home health care business with little capital, but expanding a healthcare business and growing from a one or two person business is expensive. When expanding, home healthcare businesses need capital to hire and train additional nurses, have modern back office systems to facilitate complicated billing processes, and market themselves in a competitive industry.
In 2014, it was estimated by the Bureau of Labor Statistics that there were over 150,000 dentists in the U.S. and their numbers would grow by 18% by 2024. In 2016, Entrepreneur magazine ranked dentist offices #6 on their list of top 15 profitable small businesses. Dentists are uniquely positioned to act not only as healthcare providers but also as business owners. Small business loans can provide growing dental practices with capital to purchase equipment, hire staff, and expand offices.
Lendistry has provided healthcare businesses needed funding to expand their services and territory. Lendistry’s customized financial products offer reasonable rates and responsible terms to help businesses grow and succeed. In addition to providing small business loans, Lendistry’s nonprofit partner, The Center, also offers our clients complimentary business consulting services to make the most of their capital. Healthcare providers with little or no business training can benefit by The Center’s services so they can focus on helping their patients.
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Did you know?
Founded in 1736, Bellevue Hospital in NYC is the first public hospital in the US.
In 1760, John Baker becomes the earliest medically-trained dentist to practice in America.
In 1849, Elizabeth Blackwell became the first woman in American to receive a medical degree.
Dr. Daniel Hale Williams performed the first successful open heart surgery in America in 1893.
Florence Nightingale is credited for founding professional nursing with the establishment of the eponymous school for nurses at London’s St. Thomas Hospital in 1860.