While the overall outlook for Northwest Indiana's economy is rather drab, health care remains one of the few industries that continues to see growth. <\/p>\n
That was the message at a recent Indiana University Kelley School of Business forum in Schererville, where several IU professors gave their economic predictions for 2015. <\/p>\n
\"Locally, one of the only bright spots of the last few years has been health care. It's really a growing industry,\" saidMicah Pollak, an assistant professor of economics at IU Northwest. He noted the number of health care jobs in the region has grown by more than 20 percent in the past decade and 80 percent since 1990. <\/p>\n
\"The only caveat I have about that is I don't think it's a long-term solution. Fifty years down the road, as the aging population goes through the health care system, we may not have the need for quite as much health care.\" <\/p>\n
While local hospital executives agree the growth may not continue at the same rate going forward, with the increased emphasis on bending the cost curve through wellness and prevention, they note the population continues to grow and live longer. Plus, it's unknown how future advances in medical treatments and technology will affect the industry. <\/p>\n
But for now, health care is the largest source of jobs in the region. <\/p>\n
According to a 2013 report from the Northwest Indiana Forum, a private organization composed of local businesses and industry, outpatient care is the second-biggest industry in Northwest Indiana, bringing in more than $2 billion annually, while hospitals rank fifth, earning $912 million a year. The two sectors were, respectively, the No. 1 and 3 drivers of economic growth in the region from 2001 to 2011. <\/p>\n
Combined, the sectors employ more than 31,000 people in Northwest Indiana, or nearly 12,000 more than work in primary metal manufacturing. In other words, health care now provides more jobs in the region than the steel industry. <\/p>\n
Mary Ann Shacklett, chief financial officer for Community Healthcare System, said reasons for the growth include the large aging population in Northwest Indiana and the increase in life expectancies. <\/p>\n
\"I've been here in the Community Healthcare System for 30 years. When I started, our Medicare volume back at that time was about 20 percent,\" she said. \"Now the Medicare volume for our system is about 53 percent.\" <\/p>\n
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