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.
Ex-Director Allegedly Used North Carolina Union's Money for His Vacations1 hour ago
Facing Near-Record Crime, Baltimore Enlists Feds' Help2 hours ago
Comedian Amy Schumer, With Cousin Chuck, Pushes Gun Control Measures5 hours ago
Scott Walker: The Only Governor to Expand Medicaid at State Taxpayers' Expense5 hours ago
For First Time, Court Rules Ban on Secretly Filming Animal Abuse Unconstitutional5 hours ago
Prisoners Continue Days-Long Hunger Strike in Utah5 hours ago