Hospitals Important To Economy As Well As Health, HANYS Says

Gibbons, Muriel
December 2004
Insurance Advocate;12/20/2004, Vol. 115 Issue 42, p15
The article reports that according to a report released by the Healthcare Association of New York State, hospitals and health systems in New York State generate almost $80 billion for the state and local economies, about 10 percent of the gross state product. The study, "The Impact of New York's Hospitals on The Economy and Their Communities," indicates that the economic impact derives not only from direct hospital spending--on payroll, medical supplies, food, construction, etc.--but also from the "ripple effect" of that money moving throughout the larger economy, generating additional jobs and spending, as well as tax revenue.


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