Prescriptions for Success with Healthcare Banking

The Healthcare industry is expected to be a vital part of Nevada’s future, due to the need to provide access to medical services and the state’s ability to attract enough healthcare workers.  Although the number of licensees for most health professions has increased in Nevada over the past two decades, it has done little to increase the number of licensed health professionals per capita. This is one of the reasons Nevada ranks 48th among U.S. states for the number of physicians per capita, and 48th among U.S. states for registered nurses per capita.

Current Status of Healthcare Workers

A study by the University of Nevada, Reno in 2017 on the Health Workforce Supply in Nevada determined “… it is abundantly clear that Nevada’s health workforce supply falls well short of national averages for most of the key professions needed to ensure access to basic primary, preventative and specialty services.” 

The study went on to conclude that these deficits will only be compounded by an aging healthcare workforce and new demands for medical services generated by population growth.  A few notable exceptions cited in the report include advanced practitioners of nursing (APNs) and physician assistants (PAs) which have experienced strong numerical and per capita growth in the state over the past 10 years.

Future Growth

The Nevada Department of Employment, Training and Rehabilitation (DETR) estimated in its Industry and Occupational Projections Report that more than 29,000 jobs in the Health Care and Social Assistance sector will be created in the 10-year period between 2016 and 2026. 

Thankfully, there are some encouraging signs of change. The state has several educational institutions which are currently training, educating or providing research opportunities to the next generation of healthcare workers. This includes Touro University, Roseman University of Health Sciences, The University of Nevada, Reno School of Medicine, The University of Nevada, Las Vegas School of Community Health Sciences and the University of Nevada, Las Vegas School of Medicine, as well as The Cleveland Clinic Lou Ruvo Center for Brain Health.

Nevada Governor’s Office of Economic Development

The State of Nevada views the health sector as an important part of Nevada’s future. Health is one of six key industries highlighted by the Nevada Governor’s Office of Economic Development (GOED) which hopes to expand global trade and investment programs assisting Nevada’s new or existing health businesses.  This is an important part of helping to put Nevada on the radar of existing healthcare businesses around the world and also increase investment within our state in this sector.

Strong Support For Nevada’s Existing Health Care Businesses 

Whether your company includes a single medical office or a large network of facilities located throughout the state, Western Alliance Bank has the experience, financial resources and lending solutions to help your business meet current and future needs. Our relationship managers are well-versed in the specific challenges faced by healthcare operators who seek to balance patient need, rising costs and inefficient claims processes. Western Alliance Bank’s team is the choice for hundreds of Nevada healthcare operators seeking experience in this often complicated sector.