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From the 2017 NAICS Manual, the healthcare and social services sector comprises establishments providing health care and social assistance for individuals.
The sector includes both health care and social assistance because it is difficult to distinguish the boundaries of these two activities. The industries in this sector start with establishments providing medical care exclusively, continuing with those providing health care and social assistance, and finally finishing with those providing only social assistance. Establishments in this sector deliver services by trained professionals and the industries in the sector are often based on the educational degree held by the practitioners included in the industry.

Healthcare and social services industry sectors offer a tremendous range of occupations, from minimum wage service jobs at the entry level to highly-skilled professional work requiring medical and Ph.D. degrees. Twenty-four industry sectors make up the healthcare and social services cluster in Richmond.
The healthcare and social services cluster accounted for 4,444 jobs in 2017, this means that overall employment for this cluster is 5.3 times more concentrated in Richmond than would be expected based on national employment averages.
The industry is expected to continue this strong job growth (see Table 2 above) with another 32% increase in total projected for the next five years. Going forward, finding enough people to fill the jobs in this cluster could be a challenge.

Labor Market Gap Analysis
Table 2.4, on the next page, lists the top 15 occupations in healthcare and social services. These occupations account for 56% of all cluster employment. The table provides the number of people employed by occupation in the cluster, and the number of people employed in that occupation in all industries in the region. The occupations with the most jobs in the healthcare and social services cluster are personal care aides, nurses, medical secretaries, and nursing assistants. These occupations comprise nearly onethird of the cluster’s total jobs.
The top 15 occupations typically require a bachelor’s degree. Two more occupations require a doctorate. In general, the healthcare field requires more education than other clusters discussed in this report.

Supply Chain Analysis
Table 2.6, left, provides a picture about the total demand in Richmond by all Richmond residents and businesses for the goods and services from the healthcare and social services industry cluster—worth a total $1.2 billion in the region. Table 2.6 is sorted by the dollar value of demand being met in-region by Richmond businesses. In Table 2.6, we see that the companies in these sectors meet less than one-fourth of Richmond demand for their products and services, while Richmond imports more than 75% of its needs for these products and services. This would seem to indicate potential markets for local clinics, services, and providers.
Other industry sectors that could tap into the Richmond market include the following:
• Hospitals
• Dentists
• Physicians
• Therapists
• Ambulance Services
• Counseling

Summary
The healthcare and social services industry is a cluster that requires high levels of experience and education for many occupations, while also offering entry-level jobs. This is the most rapidly growing industry sector in Richmond, as well as the rest of the country. At 10% of the GRP and nearly 20% of all jobs, this cluster is exceptionally important to the Richmond economy. Building up the industry, its supply chain, and offering a high quality of life for those employed in Healthcare and Social Services, are prime economic development efforts for Richmond that can capitalize on the strong foundation already present in the city.

Download the PDF to reat the entire report on the Healthcare and Social Services Industry.

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