Economic impact of health care industry growing
- February 6, 2012
Virginia hospitals and health systems accounted for $27.7 billion in economic activity in 2010, up $2.7 billion from the previous year, according to a health-care trade group report.
The report, released by the Virginia Hospital & Healthcare Association, found the health-care facilities employed 129,000 workers in 2010, up 7,000 from 2009.
The salaries and services of those employees supported another 64,000 jobs around the state, the association said.
In addition, the association said the health-care facilities provided $515 million in charity care in 2010, up $24 million from the year before, and experienced a total Medicaid shortfall of $318 million, an increase of $113 million.
The report found that health-care and social services jobs represent 12 percent of the state’s total employment.
Health-care also accounts for at least 5 percent of jobs in each Virginia locality, and in some areas represents one third of local jobs, the association said.
The report is the association’s fourth annual study of the economic impact of hospitals and health systems.