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RMC Creates $23,771,408 Impact on Local Economy
In Iowa, Hospitals Generate $6.2 Billion and 70,000 Jobs
Regional Medical Center generates 340 jobs that add $23,771,408 to the area economy, according to the latest study by the Iowa Hospital Association. In addition, Regional Medical Center employees by themselves spend $4,591,827 on retail sales and contribute $275,510 in state sales tax revenue.
“We have a very dedicated, professional healthcare team who are members of our communities, rooted in our traditions and mission of improving the health of our communities through professional and personalized care,” stated Dr. Lon Butikofer, Chief Executive Officer. “As we continue progressing through ever changing healthcare needs and economically challenging times, Regional Medical Center remains committed to serving our populations and enhancing the services offered to our patients that depend on us.”
“We are proud of the quality healthcare services Regional Medical Center makes available to residents of our communities while also having a very positive impact on our local economy,” said Bev Preussner, RN, MSN, Governing Board Chairperson.
The IHA study examined the jobs, income, retail sales and sales tax produced by hospitals and the rest of the state’s healthcare sector. The study was compiled from hospital-submitted data on the American Hospital Association’s Annual Survey of Hospitals and with software that other industries have used to determine their economic impact.
The study found that Iowa hospitals directly employ 70,363 people and create another 65,783 jobs outside the hospital sector. As an income source, hospitals provide $3.9 billion in salaries and benefits and generate another $2.3 billion through other jobs that depend on hospitals.
In all, Iowa’s healthcare sector, which includes employed clinicians, long-term care services and assisted living centers, pharmacies and other medical and health services, directly and indirectly provides 333,554 Iowa jobs, or more than one-fifth of the state’s total employment.
“People are often unaware of the contributions that hospitals make to their local economies, including the number of people they employ, the significance of hospital purchases with local businesses and the impact of their employees’ spending for the entire region,” said Kirk Norris, IHA president/CEO. “Just as no one provides the services and community benefits found at our hospitals, there is also no substitute for the jobs and business hospitals provide and create.”
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