The Economic Engine of a Hospital
With the stimulus package dominating the news, there is constant talk about the multiplier effect: Every dollar pumped into Medicaid, say, could translate into upwards ...
With the stimulus package dominating the news, there is constant talk about the multiplier effect: Every dollar pumped into Medicaid, say, could translate into upwards of $1.75 in economic impact -- depending on the fed match.
Now, Rhode Island Hospitals are bringing that multiplier home. Here's what they figure they are worth in stimulative effect:
Hospitals in Rhode Island spend $1 billion a year on goods and services. Ripple that through the local economy and it generates $2.2 billion.
In 2007, Rhode Island hospitals spent $200 million on capital improvements to their facilities, generating $400 million in the local economy.
Rhode Island hospitals' payroll is $1.6 billion (5 percent of the private workforce). When hospital employees spend that money, it is worth $3.2 billion in economic activity.
Well, that's one way for hospitals to let everyone know how important they are.
Join the Discussion
After you comment, click Post. You can enter an anonymous Display Name or connect to a social profile.
Chicago Mayor Fires Police Chief Amid Protests2 hours ago
Anti-Obamacare South Warms to Medicaid Expansion3 hours ago
Why Colorado's Obamacare Co-Op is Falling, and Connecticut's Isn't5 hours ago
Wisconsin Will Return to Local Governments Excess Money Collected for Stadium5 hours ago
Citing Chaos, New Jersey Won't Prevent Health Plan Sales6 hours ago
Ohio's 'Parent Trigger' Law Doesn't Work6 hours ago