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Healthcare companies play an essential role in keeping us alive and well. Encompassing major sectors like biotech, pharmaceuticals, health plans, medical equipment, innovation and research, at one point or another each one of us interacts with the healthcare system.
In fact, so ubiquitous is healthcare, the industry recently became the largest employer in the U.S., outstripping other major sources of jobs such as retail and manufacturing. Healthcare spending also accounted for a staggering 17.9% of GDP in 2016.
Nor is this growth likely to slow down any time soon. Healthcare employment is projected to see dramatic growth due to an aging population (25% of the workforce will be older than 55 by 2025) and its increasing medical needs.
With so many people working in healthcare, we wanted to find out who the best employers are and what they’re doing right. Our data science team evaluated our database of more than 18 million employer reviews, crunched the numbers and identified which organizations rate highest. Here’s what they found.
Managed healthcare giant Kaiser Permanente leads the rankings
Coming in first place is healthcare consortium Kaiser Permanente, which has its origins in the Mojave desert during the Great Depression. Since then it has grown to become a serious player in the healthcare industry, employing over 200,000 people in the United States.
Most of us have likely treated ourselves with at least one product from the other top-rated companies. Two in particular are more or less ubiquitous, and responsible for mainstays of our medicine cabinets: Band-Aids (Johnson & Johnson, #2) and aspirin (Bayer, #12).
Other top rated firms are responsible for such household names as Botox (Allergan, # 13) and heart attack and stroke treatment Lipitor (Pfizer, # 3). Meanwhile, the not-for-profit Mayo Clinic (#6) is renowned for the quality of its research.
Alongside these we see other healthcare companies whose names may not be as instantaneously recognizable, but who are responsible for some groundbreaking medical advancements in their own right. For instance, Abbott Laboratories (#10) created the first FDA-approved blood screening test for HIV, while Medtronic (#9) developed the first battery-operated, wearable cardiac pacemaker.
In addition to the important work of healthcare, these companies have broader corporate responsibility initiatives. For example, Stryker sponsors international medical mission trips for groups of employees and has a longstanding partnership with Operation Smile to provide high quality cleft lip and cleft palate care around the globe. Meanwhile, Novo Nordisk works to reduce waste and CO2 emissions and conserve water and has set aggressive goals of using 100% renewable power at all production sites by 2020.
While the majority of companies on the list are headquartered in the U.S., there’s a strong showing of international organizations, including Novartis (Switzerland), Roche (Switzerland), Bayer (Germany), Allergan (Ireland) and Novo Nordisk (Denmark).
The best of the best: what makes the top five companies stand out