$117.7B Economic Impact: More Than Healthcare Providers, Hospitals Are Economic Engines
Wednesday, Apr 24, 2024 - Posted by Advertising Department [The following is a paid advertisement.] Illinois hospitals and health systems are essential to economic growth across the state. A new report illustrates the hospital community’s role as strong economic contributors who fuel $117.7 billion in economic activity every year, resulting in good-paying jobs and more vibrant communities. While hospitals are first and foremost providers of life-saving care, their role stretches farther. They are innovators; community partners in addressing challenges of food insecurity, homelessness, health disparities and more; and major employers serving as the hub of economic activity in their communities. Illinois hospitals and health systems create 445,000 direct and indirect jobs, and they support working families through over $50 billion in direct and indirect payroll annually. What’s more:
• Illinois hospitals directly employ 190,000 Illinoisans; and • Every $1 in hospital spending leads to another $1.40 in spending. As larger purchasers of supplies and services, Illinois hospitals and health systems spend nearly $62 billion to have on hand for every patient the medical equipment and supplies needed to care for patients in any circumstance. In addition, the hospital community spends over $5.5 billion in capital projects yearly that benefit patients, and provide good jobs to Illinois workers. Learn more about the hospital community’s economic impact.
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