Archbold $707 Million Economic Impact
Thursday, November 6, 2014
Hospitals are essential for our communities providing care for residents when they need it most. But behind the scenes, hospitals significantly impact many people on a daily basis, even those who may not walk through the hospital doors.
The Georgia Hospital Association recently released its 2012 Economic Impact Report, which quantifies the impact of Archbold in the community. Using the U.S. Bureau of Economic Analysis methodology, Archbold Medical Center’s regional economic impact was more than $707 million in revenue for the local and state economy in 2012. During the same time period, Archbold provided more than $31.6 million in uncompensated care while sustaining more than 5,732 full-time jobs throughout Southwest Georgia and the rest of the state.
Archbold—a four-hospital regional healthcare system—had direct expenditures of more than $309.5 million in 2012, that when combined with an economic multiplier developed by the United States Department of Commerce’s Bureau of Economic Analysis, the total economic impact of those expenditures in the region was more than $707.2 million.
“Archbold is a huge economic engine for Southwest Georgia,” said Lauren Basford, executive director of the Thomasville/Thomas County Chamber of Commerce. “The health system and its employees buy goods and services from other businesses in our area, which creates additional economic value for our region, but each hospital job supports about two more jobs in our community. And every dollar spent by the hospital supports roughly $2.30 of additional business activity in our region.”
Despite years of economic downturn and changes in healthcare, Archbold Medical Center maintained an enormous positive impact on our local economy.
“Just like all hospitals across the country, we are learning new ways to adapt to the rapidly changing environment in healthcare,” said Perry Mustian, Archbold president and CEO. “But our community can be confident that Archbold’s focus remains the same—we are very committed to serving the residents of this region by providing the very best care in a patient-focused and cost-effective manner.”