Delaware’s 2,223 patient care physicians fulfill a vital role in the state’s economy by supporting 21,718 jobs and generating $3.2 billion in economic activity, according to a new report released by the Medical Society of Delaware and the American Medical Association (AMA).
The study comes as pressure builds on physicians regarding reimbursements and looming prospects that incomes may drop in coming years.
“Delaware’s physicians not only provide innovative, compassionate, and quality care for patients, but it is clear through this report that we are critically important to the overall economic health and vitality of our state’s economy,” said Nancy Fan, MD, President, Medical Society of Delaware.
“Physicians carry tremendous responsibility as skilled healers charged with safeguarding healthy communities, but their positive impact isn’t confined to the exam room,” said AMA President Ardis Dee Hoven, M.D. “The new study illustrates that physicians are strong economic drivers that are woven into their local communities by the economic growth, opportunity and prosperity they generate.”
The report notes that given the changing health care environment, it is paramount to quantify the economic impact physicians have on society. To provide lawmakers, regulators and policymakers with reliable information, the report measured the economic impact of Delaware physicians according to four key economic barometers. The overall findings in the state of Delaware include:
Jobs: Each physician supported an average of 9.8 jobs and contributed to a total of 21,718 jobs statewide.
Output: Each physician supported an average of $1.4 billion in economic output and contributed to a total of $3.2 billion in economic output statewide.
Wages and Benefits: Each physician supported an average of $862,729 in total wages and benefits and contributed to a total of $1.9 billion in wages and benefits statewide.
The study found that, in comparison to other industries, patient care physicians always contribute more to the state economy than each of the following: higher education, home health care, legal services, nursing and residential care.
To view the full report and an interactive map of the United States, visit www.ama-assn.org/go/eis.
