The healthcare system is one of the largest and most important multinational enterprises in the United States. Healthcare service is comprised of three essential activities including patient-care, education, and research. In 2008, over 14 million residents in the United States were employed in the healthcare field, excluding related industries such as insurance and pharmaceutical companies.
The United States spends roughly $8,000 per person, per year on healthcare (a growing figure), which is 51% more than the nation with the next largest expenditure. A significant amount of this spending is on health research activities (e.g. National Institutes of Health, Centers for Disease Control and Prevention). Although this spending is a noteworthy share of the Nation’s Gross Domestic Product, it can be valuable if products are produced that can put this money back into the system. The development of new knowledge and products via healthcare research activities is one viable method of replacing this capital.
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