Top 10 Healthcare Companies in USA for SMEs and Enterprises

There are several businesses that constitute the entire healthcare system this includes; medical services, production of medical instruments and drugs, health insurance providers and provision of healthcare to patients. Healthcare industry is on fast-paced growth especially in this second decade of the 21st century, there are more companies that made it in the list of healthcare providers with many innovative solutions. There are many services provided by this sector when it comes to providing innovative solutions here, this sector is collaborating with software solution provider and devising many solutions in terms of healthcare software. Telemedicine is one of those solutions that provide the consultation by a doctor with the patients sitting miles away. rnWith the progress made by the healthcare industry at an exponential rate, there are many challenges faced by few healthcare sectors even in developed countries for instance; life expectancy and the infant mortality rate is not up to the mark. US is one of the wealthiest nations of the world, in 2016 the USA invested about $3.30 trillion or $10,348 per person on healthcare. These are the numbers as per the reports shared by Centers for Medicare and Medicaid Services (CMS). It is estimated that by 2025, US healthcare will account for every $1 spent out of $5. rnWith this growing investment and increasing demand in the healthcare, many companies are providing healthcare software development solutions and especially to cope up with the demand in this time of crisis these solutions like telemedicine can give expected results along with promoting the notion of social distancing. They are building health care apps for the patients whether to check heart rate, blood pressure, the temperature is just a click away and can be examined via healthcare software development solution. In USA alone, as per the estimated digital health market size forecasts of 2014-2024, the market share in US is expected to reach 90 billion US dollars in 2022. rnSo what is it that makes Healthcare companies to stand out on the top of US economy? What are the factors involved that deems them among the best Healthcare providers? Placing Healthcare companies in rank order of top ten companies is not a simple task. There are many crucial factors and consistency in those factors over the years makes them liable among these top companies it involves; employees’ productivity, USP (Unique selling points), market reputation and effective management. Moreover, some of these health care companies have made it to the list of Fortune 500s, their Glassdoor, Good firms, Google, employees and clients ratings are compared along with the Healthcare solution they are providing. Considering the above factors, following are the top 10 Healthcare companies in the USA. 1) Aetna ($50 Billion) Founded in 1853, based in Hartford – It is aimed at providing the individuals, employers, healthcare professionals, producers and others with innovative benefits, products and services. Aetna is a subsidiary company of CVS Health Corporation. After 2016, Aetna has experienced an unexpected growth. Aetna has around 22.1 million medical members, with 12.7 million dental staff members, 13.1 million pharmacy-related service providers, 1.2 million healthcare professionals, with over 6,90,000 primary care doctors and specialists and 5,700 hospitals. rnAetna is also providing telemedicine services and especially addressing the needs of the patients by waiving telemedicine out-of-pockets costs of members especially in this time of crisis of COVID-19. 2) Anthem ($73.9 Billion) Anthem was founded in Indianapolis, Indiana in 1946 begin to serve as Mutual Hospital Insurance and Mutual Medical Insurance Inc. The company has shown significant growth till the 1970s controlling 80% of medical health insurance market in Indiana. In November 2004, WellPoint Health Networks Inc. and Anthem Inc. merged and formed the world-leading health insurance companies. In 2014, WellPoint Inc. changed its name to Anthem Inc. Anthem is one of the leading healthcare benefit companies in United States. It provides a wide range of healthcare benefit plans with integrated healthcare plans and related services. rnAnthem Inc. is committed to maintaining a strong relationship with doctors, nurses, customers, hospitals and other healthcare professionals as trusted members. Anthem affiliated health plans have produced PPO’s, HMO’s, various hybrid and speciality products, network-based dental products and cost attractive alternative to control the costs. It aims to deliver innovation and offered healthcare software development solution with its LiveHealth Online product to have more improved ways of delivering healthcare service. For non-emergency treatments and in case the doctor is not available LiveHealth Online gives patient a chance to have an online video session over their devices for treatments. This initiative was taken in 2013 with the doctors’ availability 24/7 irrespective of any holidays. 3) UnitedHealth Group ($242.2 Billion) UnitedHealth Group is another one of the leading healthcare for-profit managed healthcare companies in Minnetonka, Minnesota. It offers benefits health insurance and other healthcare products. UnitedHealthcare is one of the largest healthcare company in the world in terms of revenue i.e. $242.2 billion. Healthcare of UnitedHealth Group constitutes 80% of the group’s overall revenue. The company ranked 6th on 2019 Fortune 500s. rnUnitedHealthcare has to offer a variety of healthcare insurance plans that includes insurance plans for elderly people of age 65 or above or other people below this age due to any disability. There are individual and family plans that fits the individual needs and needs of the family. Moreover, short-term health plans that address the needs during the time of transition. Small business plans with up to 99 the coverage of 99 people, dental plans and Medicaid plans that covers the needs of people with limited income. On the other hand, other than their health insurance products they have telehealth product that allows the patient to access the healthcare service while sitting at home. 4) Centene Corporation ($74.6 billion) Centene Corporation based in St.Louis founded in 1984 is one of the largest publicly-traded company and a multi-line managed healthcare enterprise and biggest and serves as a major intermediary between government and privately-held companies. Being the second-largest publicly traded corporation in the Missouri United States, it is ranked 61 in 2018 in Fortune 500s based on the total revenue earned among the largest United States healthcare. Centene has a variety of business segments that contains various health insurance namely Medicaid, ACA Healthcare insurance marketplace. Where Medicaid is one of the largest health insurance provider among other business segments. WellCare Health Plans founded in 1985 in Tampa Florida is a subsidiary of Centene Corporation. rn5) McKesson Corporation ($224.9 Billion) McKesson Co. based in Irving Texas, is the seventh highest revenue grossing in American Healthcare. It is famous for distribution of pharmaceuticals, providing healthcare software development solutions. In addition, to provide any healthcare solutions, McKesson is one of leading healthcare infrastructure for bar-code scanning for distribution, pharmacy robotics and RFID tags. One of the fortune 500s and have provided exceptional technology services with the assistance of its software development division. The market share of McKesson Co. is 50% of all health systems in the United States, 20% of all physician practices, 25% of home care agencies and 77% of health systems with more than 200 beds. In 2005, McKesson co. acquired an Israeli company named Medcon, provides web-based cardiac image and information management system for heart centers including digital image management, archiving, procedure reporting and workflow management. 6)AmerisourceBergen ($182.1 Billion) AmerisourceBergen is a drug wholesale company based in Pennsylvania, United States was formed by the merger of Bergen Brunswig and AmeriSource in 2001. They provide drug distribution and relevant services aimed to improve the patients’ outcome while reducing the cost of a pharmaceutical product. In their product line, they are covering every aspect of healthcare from drug development to its distribution plus improving the financial hurdles for their customers through cost-effectiveness. With their aim to deliver the right product to be delivered at the right time and to the right patient, they are focusing on delivering the millions of drugs every day, with assurance of their peace of mind by collaborating with their partners for the betterment of health of their patients. Moreover, bridging the gap between the patients and healthcare providers so they spend more time with doctors and have more control over their health. 7) Cigna ($153.616 Billion) Another Fortune 500s company providing global healthcare services headquartered in Bloomfield, Connecticut, United States. Cigna has many insurance subsidiaries that provide insurance benefits for medical, dental, disability, life and dental insurance benefits. For its customer, it offers various life and health insurance plans for its US customers primarily and for selected international markets. Cigna has full-service staff with Health Maintenance Model and satellite clinics operated throughout the region under Cigna Medical group. Among Fortune 500s it is ranked 73 in United States Fortune 500s. It products includes a wide variety of individual and group health insurance plans. Dental insurance plans, Medicare plans, Medicare supplement plans, other supplemental insurance and International Health Insurance are individual coverage plans. Employee plans and policies and Employer Group solutions are the products covered under insurance through employers plans. 8) HCA Healthcare ($46.62 Billion) HCA American Healthcare for-profit operator located in Nashville Tennessee and United Kingdom, founded in 1968. HCA went public in 1969 and ranked 67 in 2019 among the Fortune 500s for one of the largest United States Corporation in terms of revenue. By 2019, HCA Healthcare managed 185 hospitals, 119 freestanding surgery centers, freestanding ER’s, urgent care centers and physician clinics in United States. 9) Cardinal Health ($136.80 Billion) Cardinal Health founded in 1971, formerly started off operations as wholesaler foods, after acquiring Bailey drug company in 1979, it began wholesaling drugs as cardinal distribution. Cardinal Health is now 14th highest grosser company of United States of America. With headquarters based in Dublin, Ohio and Dublin Ireland – it is specialized in distribution of pharmaceuticals in 100,000 different locations. With its products bridging the gap between quality products and increasing demand of savings. They are offering clinician-preference, cost-efficient products with high-quality care. Their medical products include; Anesthesia, Cardiovascular, Compression, Durable medical equipment, enteral feeding, Gloves, infection control, Laboratory products, patient care, patient monitoring and other products related to maternal health. Furthermore, they are offering pharmaceutical products as well that includes drugs including influenza, Specialty drugs, nuclear medicine and biosimilar. 10) Abbott Laboratories ($31.90 Billion) Abbott Laboratories is American multinational medical devices and pharmaceutical company located in Abbott Park Business Center in Illinois, United States. It is founded in 1888 by a Chicago based physician Wallace Calvin Abbott. Its product range includes; medical devices, diagnostics, branded generic medicines and nutritional products. Among Fortune 500s, with the revenue of $31.90 Billion its products are categorized into medical devices, diagnostics and nutritional products. Medical devices constitute Freestyle Libre, cardiovascular devices (MitraClip, Confirm Rx, Amplatzer Piccolo Occluder, Heartmate, Xience and CARDIOMEMS). Moreover, Medical devices includes Neuromodulation devices BurstDR Technology, Proclaim DRG Neurostimulation System, Infinity Deep Brain Stimulation System. Diagnostics includes; i-STAT, Alinity, Architect. Nutritional products of Abbott are divided into adult nutrition product and pediatric nutrition product. Adult nutrition product includes; Ensure, Glucerna, Juven, ZonePerfect whereas Pediatric nutrion product includes; Similac, Pedialyte and PediaSure.