Psychiatric Hospitals in the US
The Psychiatric Hospitals industry is made up of hospitals that specialize in the treatment of mental illness and behavioral health. The expansion of Medicare and Medicaid has had a significant effect on the Psychiatric Hospitals industry. Over the five years to 2018, federal funding for Medicare and Medicaid has increased. Wider acceptance and prevalence of mental illness has also supported demand for behavioral health treatment. Over the five years to 2023, the sustained influx of patients resulting from expanded public and private healthcare coverage and prevalence of mental illness is projected to bolster revenue.
This industry includes establishments licensed to provide diagnostic and medical treatment, as well as monitoring services for inpatients suffering from mental illness or substance abuse disorders. These establishments maintain inpatient beds and a staff of physicians. Facilities that emphasize counseling for mental health and substance abuse rather than medical treatment are not included in the industry (see IBISWorld report 62322).
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook