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Medical schools and teaching hospitals: Economic engines for their communities and the nation | AAMC

aamc.org · 490 words · saved by 1 readers

The nation’s medical colleges and teaching hospitals are substantial contributors to the nation’s economy, with their patient care, education, and research work adding more than $728 billion to the gross domestic product (GDP) and supporting more than 7 million jobs, according to a report from the AAMC. “Medical colleges and teaching hospitals are economic engines, generating and sustaining substantial employment and economic development for surrounding communities,” according to the report. The study reached that conclusion by measuring both direct effects — that is, money spent to run the institutions (such as on staffing) — and secondary effects from what the institutions and their employees spend with other businesses. The results are based on 2019 data (before the onset of COVID-19) from 154 medical schools and 258 teaching hospitals in 47 states, the District of Columbia, and Puerto Rico. The report includes a state-by-state breakdown of the economic impacts. Among the highlights

The nation’s medical colleges and teaching hospitals are substantial contributors to the nation’s economy, with their patient care, education, and research work adding more than $728 billion to the gross domestic product (GDP) and supporting more than 7 million jobs, according to a report from the AAMC. “Medical colleges and teaching hospitals are economic engines, generating and sustaining substantial employment and economic development for surrounding communities,” according to the report. The study reached that conclusion by measuring both direct effects — that is, money spent to run…

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