Economic Contribution of Hospitals
Hospitals play a vital role in our nation’s communities, not only for the health care they provide, but also for the economic contribution they make. Hospitals are not immune to the effects of economic downturns. When the economy weakens, hospitals see fewer elective cases, provide more charity…
Hospital care is the largest component of the health sector, which itself is a growing segment of the U.S. economy. In 2006, this sector represented about 16 percent of the Gross Domestic Product (GDP) – a measure of economic output – or approximately $2.1 trillion.
The role hospitals play in providing health care is widely understood, but fewer are aware of the important role of hospitals in the U.S. economy. Nationwide, hospitals employ nearly 5 million people. Hospitals rank second as a source of private sector jobs.