From the birth of a child, to the life-saving Emergency Room visit in the middle of the night, people often forget how important their community hospital is—until they need it.
But a hospital’s place is the community is greater than the services it provides.
Now more than ever, hospitals are focused on proactively advancing people’s health and well-being.
Citizens look to hospitals to provide tools and information to promote healthy living. They rely on hospitals to provide information so they can make informed decisions about their healthcare. Residents even take advantage of free screenings offered by hospitals to help detect cancer and heart disease early, when it’s best treated (medically and cost effective).
Today, hospitals do so much more than simply improve the quality of life for sick patients. They contribute to the overall health of our communities—medically and financially.
The Georgia Hospital Association recently released its 2014 Economic Impact Report, which quantifies the impact of the Archbold health system in the region. Using the U.S. Bureau of Economic Analysis methodology, Archbold Medical Center’s regional economic impact was more than $733 million in revenue for the local and state economy in 2014.The report also found that, during the same time period, Archbold provided approximately $32 million in uncompensated care while sustaining more than 5,000 full-time jobs throughout South Georgia and the rest of the state.
The report revealed that Archbold had direct expenditures of more than $321 million in 2014. 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 was more than $733 million. This output multiplier considers the “ripple” effect of direct hospital expenditures on other sectors of the economy, such as medical supplies, durable medical equipment and pharmaceuticals. Economic multipliers are used to model the resulting impact of a change in one industry on the “circular flow” of spending within an economy as a whole.
“Since 1925, Archbold has been known for our role in meeting the healthcare needs of patients in South Georgia and North Florida,” said Perry Mustian, Archbold President and CEO. “But we also influence our area’s economic health.”
The regional health system based in Thomasville employs over 2,200 people. According to the GHA report, for every Archbold employee, there is more than one supporting job created throughout the region and state. In addition the funds the organization spends on goods and services flow from the hospital to businesses, and those funds ripple through the local economy, as well.
“We’re committed to continuing the Archbold tradition of recruiting and retaining highly skilled medical talent that will provide the best high quality healthcare for our citizens,” said Mustian. “And in addition to their caregiving role, our providers will continue to support the local economy, shops and restaurants, and hopefully encourage even more new businesses to take root, so our region can continue to thrive economically.”