CONTACT: Erica C. Cline
May 15, 2012
UNIVERSITY HEALTH CARE SYSTEM GENERATES
NEARLY $850 MILLION FOR LOCAL AND STATE ECONOMY
ATLANTA – University Health Care System in Augusta, Ga., generated more than $849,777,853 in revenue for the local and state economy in 2010, according to a recent report by the Georgia Hospital Association, the state’s largest hospital trade association. The report also found that, during the same time period, University Health Care System provided approximately $27,344,503 in uncompensated care while sustaining nearly 6,800 full-time jobs throughout Augusta and the rest of the state.
The report revealed that University Health Care System had direct expenditures of more than $367,360,303 in 2010. When combined with the 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 $849,777,853. 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.
“In these challenging economic times, it is wonderful to see the very positive impact University Health Care Sytem has on our local economy,” said James R. Davis, CEO of University Health Care System. “The CSRA has supported this health system for nearly 200 years, and we will continue to support our community with quality, affordable health care.”