“The healthcare industry also called the medical industry or health economy is

“The healthcare industry (also called the medical industry or health economy) is an aggregation and integration of sectors within the economic system that provides goods and services to treat patients with curative, preventive, rehabilitative, and palliative care. It includes the generation and commercialization of goods and services lending themselves to maintaining and re-establishing health.” The modern healthcare industry is divided into many sectors and depends on interdisciplinary teams of trained professionals and paraprofessionals to meet health needs of individuals and populations. The healthcare industry is one of the world’s largest and fastest-growing industries. Consuming over 10 percent of gross domestic product (GDP) of most developed nations, health care can form an enormous part of a country’s economy. For the purpose of finance and management, the healthcare industry is divided into several areas. The United Nations International Standard Industrial Classification (ISIC) categorizes the healthcare industry as generally consisting of:o Hospital activities;o Medical and dental practice activities;o “Other human health activities””.This third class involves activities of

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