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Levy Library Blog

Business Research in Healthcare: Featured Staff Blog Post

by Angelyn Thornton on 2021-03-10T11:38:00-05:00 | Comments

 

By Ed Jessup, Library Manager of Public Services

 

When people hear the term “business” and “healthcare” they tend to get a little confused. I mean, healthcare is about keeping people healthy, and business is about making money, and the two shouldn’t mix. This is, of course, an idealist view, as we know very well that healthcare and business do mix, and it mixes often. This doesn't have to have such negative connotations though. Healthcare is a huge industry and there are plenty of innovative companies that produce amazing products and services. Healthcare professionals deserve to know where they can access this valuable information. 

One of the premiere go-to databases for business-related information is the Business Source Complete by Ebsco. This is a one-stop-shop database for all things business and includes access to over 900 peer-reviewed business journals, more than 17,000 company profiles, and a dizzying array of industry reports. This database is international in scope, just as the healthcare industry. Keeping an eye on trends in healthcare, in areas such as pharmaceuticals and artificial intelligence are only a simple search away. In addition, it is easy to keep an eye on emerging trends and products via company profiles and find out what their competitors are doing as well. 

Another great place to investigate company and business intelligence is through Business Essentials Insights, by Gale. One of the reasons I love this resource is the quick access to company and industry information. Simply search a company by ticker symbol or an industry by NAIC code and users will be immediately whisked to accurate up-to-date information. A great feature of this database is the ability to generate quick comparison charts by company and industry.

When searching these databases for industry-related information, be aware that the healthcare industry is vast. When trying to zero in on specific facets of the industry, it can be helpful to have a NAICS code available. This can help make your searches more efficient. You can find NAICS codes freely available on their website. In addition, it is often useful to have a ticker symbol for a company of interest. These codes are also freely available at a variety of market-based websites. Remember, when searching market and business-related information, the more accurate and specific information you put in will yield in more accurate and efficient results.

Yes, the healthcare industry is an industry that people rely on for their health, and as a healthcare professional you have amazing skills to heal. Why not stay on top of trends and companies in this faceted field, and leverage this knowledge to always improve the standard of care. There are many useful tools to put to work, right at your fingertips, and the resources I have just discussed are just the tip of the iceberg. 

 

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