Office-Based Physicians Play Critical Economic Role
imageOffice-based physicians play a vital role in national and state economies by supporting jobs, purchasing goods and services, and generating tax revenue, according to a recent report released by the American Medical Association. In 2009, AMA research indicates, office-based physicians contributed $1.4 trillion in economic activity and supported four million jobs nationwide. It also reveals that office-based physicians almost always contribute more to state economies than hospitals, nursing homes, home health operations, and legal entities. “Although physicians are primarily focused on providing excellent patient care, physician offices and the jobs and revenue they produce are significant contributors to national and state economies,” says AMA President Cecil B. Wilson, MD. “This study illustrates that office-based physicians contribute to both the health of their patients and also to the economic health of their communities.” Findings contained in the study show the economic impact of office-based physicians as measured through sales revenue, jobs, wages and benefits, and tax revenue. According to the report, which provides information on the economic impact of office-based physicians in all 50 states and the District of Columbia, the median state supported $10.3 billion in economic activity and supported more than 46,400 jobs in 2009.