Oncologists
Description
Physicians in this industry engage in the medical practice of diagnosing and treating cancer. Major US companies include Dana-Farber Cancer Institute, Johns Hopkins, Mayo Clinic, MD Anderson Cancer Center, and Memorial Sloan-Kettering Cancer Center. Leading providers of cancer treatment outside the US include Institut Gustave-Roussy (based in France), the Princess Margaret Hospital (Canada), the Royal Marsden Hospital (the UK), and Sun Yat-Sen University Cancer Center (China).
Cancer rates, as well as death from the disease, continue to increase worldwide. About 20 million new cancer cases and about 10 million cancer deaths were reported in 2022, according to the International Agency for Research on Cancer (IARC).
About 27,000 oncologists practice in the US, according to the American Society of Clinical Oncology (ASCO). The office of physicians, including oncologists, has about 210,000 establishments with an annual revenue of about $470 billion.
COMPETITIVE LANDSCAPE
Demand for oncologists is driven by the number of people being treated for cancer. Profitability depends on patient volume, insurance reimbursement, reputation, and operational efficiency. Large organizations have economies of scale in purchasing and administration. Small clinics can compete by treating specific types of cancer or patient groups, such as children.
PRODUCTS, OPERATIONS & TECHNOLOGY
Oncologists diagnose and treat tumors, perform surgery, tracking remission patients, provide medical support to terminally ill patients, and performing researches. Oncologists are included in the industry of physicians, which take majority of its revenue from patient care that accounts for about 97%. Other services include treatment of diseases of the musculoskeletal system, factors influencing health status, and diseases of the eye and adnexa. Diseases of the circulatory system as well as tumors are treated in the industry.
Within the general practice of oncology, the industry is segmented into subspecialties based on treatment type, such as chemotherapy, radiotherapy or radiation, and surgery, as well as the affected region of the body, such as head and neck, breast, colon, prostate, and skin. Many medical oncologists also specialize in hematology, the diagnosis and treatment of blood diseases such as leukemia and lymphoma. Radiation oncologists specialize in radiation therapy cancer treatments, often working in collaboration with medical oncologists.
Oncologists may own private practices as well as work at hospitals. Oncologists may also conduct medical research into cancer causes and new treatments. Studies may be sponsored and funded by a variety of sources, including the federal National Cancer Institute, health fund-raising organizations like the American Cancer Society, pharmaceutical research companies, medical schools, or large research hospitals like the Mayo Clinic Cancer Center.
Cancer rates, as well as death from the disease, continue to increase worldwide. About 20 million new cancer cases and about 10 million cancer deaths were reported in 2022, according to the International Agency for Research on Cancer (IARC).
About 27,000 oncologists practice in the US, according to the American Society of Clinical Oncology (ASCO). The office of physicians, including oncologists, has about 210,000 establishments with an annual revenue of about $470 billion.
COMPETITIVE LANDSCAPE
Demand for oncologists is driven by the number of people being treated for cancer. Profitability depends on patient volume, insurance reimbursement, reputation, and operational efficiency. Large organizations have economies of scale in purchasing and administration. Small clinics can compete by treating specific types of cancer or patient groups, such as children.
PRODUCTS, OPERATIONS & TECHNOLOGY
Oncologists diagnose and treat tumors, perform surgery, tracking remission patients, provide medical support to terminally ill patients, and performing researches. Oncologists are included in the industry of physicians, which take majority of its revenue from patient care that accounts for about 97%. Other services include treatment of diseases of the musculoskeletal system, factors influencing health status, and diseases of the eye and adnexa. Diseases of the circulatory system as well as tumors are treated in the industry.
Within the general practice of oncology, the industry is segmented into subspecialties based on treatment type, such as chemotherapy, radiotherapy or radiation, and surgery, as well as the affected region of the body, such as head and neck, breast, colon, prostate, and skin. Many medical oncologists also specialize in hematology, the diagnosis and treatment of blood diseases such as leukemia and lymphoma. Radiation oncologists specialize in radiation therapy cancer treatments, often working in collaboration with medical oncologists.
Oncologists may own private practices as well as work at hospitals. Oncologists may also conduct medical research into cancer causes and new treatments. Studies may be sponsored and funded by a variety of sources, including the federal National Cancer Institute, health fund-raising organizations like the American Cancer Society, pharmaceutical research companies, medical schools, or large research hospitals like the Mayo Clinic Cancer Center.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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