Mason District Hospital's 2014 Annual Economic Impact Report Available
Mason District Hospital is sharing its report conducted by the Illinois Hospitals and Health Systems detailing the local and regional impact of $30million it provides to the community.
The report, “Mason District Hospital: Our Impact on the Economy and Our Community”, was developed in conjunction with the Illinois Hospital Association (IHA) and their latest 2014 report, Illinois Hospitals and Health Systems: $83.4 Billion State Economic Impact.
“By employing highly-skilled health care providers and spurring more economic activity through our spending on goods, services and important capital improvements, we remain a key cornerstone of the local and state economy, and hope that interest of our local and state legislators will continue to support the mission and funding of rural critical access hospitals like ours as we continue to serve our rural communities”
The hospital provides essential medical services 24/7 and 365 days a year, but in addition, is an important economic anchor to the community it serves. Through jobs, spending in the community, reinvesting in facility upgrades and medical personnel to improve healthcare, and community education, Mason District Hospital can continue to provide growth and stability to its neighbors. “Clearly, hospitals and health systems continue to be critical job creators for their communities,”
The value of hospitals to their communities is enormous as detailed in the report. The push by hospitals – large and small – to gain support by state and federal lawmakers, to oppose devastating Medicaid cuts is critical to keeping medical care available, strong, and retain employment in those communities.
It is noteworthy in the report’s key findings how Mason District Hospital contributes and supports the local economy:
· Employs 231 people, expending $13,011,601 million a year on payroll, creating a total of 288 jobs in the local economy, and generating approximately $30,906,456 million in economic activity in the community;
· Spends $7,279,399 million on goods and services, resulting in over $17,290,756 million in economic activity in the local and state economy;
· Invested over $2,407,592 million in capital improvements to enhance and update facilities and major medical equipment, generating $5,718,753 million in economic activity for the local and state economy; and
· Provides over $759,622 in charity care for our community
In addition, the IHA report noted several key economic impacts of Illinois hospitals on a statewide basis:
· Each Illinois hospital job generates an additional 1.25 Illinois jobs;
· Every dollar spent by Illinois hospitals on goods, services and payroll generates an additional $1.38 in spending throughout the local and state economy;
· In the last five years, health care employment in Illinois grew by 7.2% (41,200 jobs). During the same time, total employment statewide grew by just 3.7%;
· The Illinois health care/social assistance sector is projected to add almost 100,000
· Illinois hospitals employ more than a quarter of a million people and expend $16.3 billion a year on wages and benefits, resulting in a total of 449,868 direct and indirect jobs and an economic impact from hospital payrolls alone of $38.6 billion;
· Illinois hospitals also invest in capital improvements, spending $4.2 billion on buildings and equipment, which generated an additional $5.8 billion for a total of $10.0 billion;
Overall community benefits provided by the more than 100 Illinois hospitals that file annual community benefit reports with the state is now more than $5.2 billion annually, including $704 million in charity care, an increase in charity care of 182% since 2005.
“We realize that the state and federal governments face fiscal challenges. However, any further Medicare and Medicaid cuts will undermine hospitals and health systems as they create jobs and transform health care delivery,” commented Wurth. “Illinois’
Illinois hospitals are absorbing more than $11 billion in Medicare payment reductions over ten years under health care reform and other federal legislative and regulatory actions, as well as more than $380 million in state Medicaid reductions since 2011.
IHA’s statewide report is available for viewing and downloading at IHA’s website, www.ihatoday.org.
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The Illinois Hospital Association is an advocate for 200 Illinois hospitals and the patients and communities they serve. Reflecting the diversity of the state, IHA members consist of nonprofit, investor-owned, and public hospitals in the following categories: community, safety net, rural, critical access, specialty, and teaching hospitals, including academic medical centers. For more information about IHA, visit www.ihatoday.org.
Mason District Hospital is a rural critical access hospital serving Mason and southern Fulton Counties since 1957. The hospital includes full service Emergency Room, specialty clinics, high-tech diagnostics, and rehabilitation services. For more information about the hospital, visit www.masondistricthospital.org.