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.
2014 Governors Races: The Year of the Tossup2 hours ago
Alabama House Speaker Charged with Corruption1 hour ago
Hispanic Voters Increase in Numbers but Not Political Clout1 hour ago
Colorado's Edible Marijuana Ban Goes Up in Smoke1 hour ago
Mayor Resigns After DUI Arrest1 hour ago
Bobby Jindal Restricts West African Travelers' Movements in Louisiana1 hour ago