New study demonstrates that Utah’s clinical care physicians support 73,065 jobs, generate $12.3 billion in economic activity
SALT LAKE CITY - Physicians add opportunity, growth and prosperity to the Utah economy by creating 73,065 jobs and generating $12.3 billion in economic activity, according to a new report, The Economic Impact of Physicians in Utah, released today by the Utah Medical Association (UMA) and the American Medical Association (AMA).
"While physicians are often recognized for their vital role in ensuring the health and well-being of the residents of Utah, their contributions to the economic health of the state often go unrecognized," said UMA President Elizabeth Howell, MD. "In times of rapid change, we believe it is critically important for physicians to maintain strong practices that contribute to the economic well-being of the state."
The study quantifies the economic boost that 5,489 active patient care physicians provide to the state’s economy, producing a ripple effect that is felt statewide. The study measures physicians’ impact using four key economic indicators:
· Jobs: Clinical care physicians support 73,065 jobs in Utah–13.3 for each physician on average.
· Economic activity: Physicians generate $12.3 billion in economic output, comprising 8.2 percent of the Utah economy. Each physician generates $2.2 million for the state economy on average.
· Wages & benefits: Physicians contribute $5.7 billion in total wages and benefits paid to workers across Utah, empowering a high-quality, sustainable workforce. Each physician contributes $1 million to workers’ wages and benefits on average.
· State and local tax revenue: Physicians’ contribution to the Utah economy generates $405.6 million in state and local tax revenue for their communities–translating to $73,892 for each physician on average–enabling community investments to be made.
“The positive impact of physicians extends beyond safeguarding the health and welfare of their patients,” said AMA President David O. Barbe, M.D., M.H.A. “The Economic Impact Study illustrates that physicians are woven into their local communities and have a vital role in fueling state economies by creating jobs, purchasing goods and services, and supporting public services through the tax revenue they generate.”
The report found that every dollar applied to physician services in Utah supports an additional $2.10 in other business activity. An additional eight jobs, above and beyond the clinical and administrative personnel that work inside the physician practices, are supported for each one million dollars of revenue generated by a physician’s practice. In addition, Utah’s clinical care physicians generate more economic output, produce more jobs and pay more in wages and benefits than Utah’s Legal Services, Higher Education, Nursing and Community Care Facilities or Home Health Services. This report does not include physicians that work in other industries, administrative, academic or research positions.
Across the country, physicians add $2.3 trillion to the U.S. economy, support more than 12.6 million jobs nationwide, contribute $1 trillion in total wages and benefits paid to U.S. workers, and generate $92.9 billion in state and local tax revenue.
To view the full report and an interactive map, please visit www.PhysiciansEconomicImpact.org.
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CER URGES PRESIDENT TO KEEP EDUCATION FRONT AND CENTER IN RURAL INITIATIVE
Statement by Jeanne Allen in response to President Trump’s Rural Prosperity Plans
(Washington, D.C.) - Today President Trump announced an initiative to achieve prosperity for rural America by advancing innovation and technology in these challenged communities. While this is promising news, education opportunity must be the foundation if the new initiative is to succeed.
The Administration's focus on 5 areas have a natural education connection: 1) e-connectivity for rural America, which must include incentives for creating new rural education initiatives; 2) improving quality of life--will only be achieved when the quality of education improves; 3) supporting a rural workforce--again, requiring new pathways to education and training to attract and prepare workers; 4) harnessing technological innovation--an absolute must for 21st century learning; and 5) economic development--which can only be achieved, and maintained, with a well-educated and well-trained workforce.
In its First 100 Days, and since, CER has urged the Administration to boldly consider efforts to bolster the use of existing and expected federal funds to create the potential for expanded, personalized learning that employs 21st century technologies. We've recommended the use of new infrastructure dollars to support public-private partnerships that will drive the creation of new schools, connected by new roads and new digital pathways, that can encourage more education for learners at all levels. This would not only dramatically improve the quality of education in rural America, but increase options and opportunities for learning, which spurs the economic growth the president is hoping to achieve and entices people to stay, or move to these improved communities. We all know that great education is at the heart of vibrant communities. With an expanded focus on providing more and better learning opportunities for all students, an expanded economy will follow.
Jeanne Allen is Founder and CEO of the Center for Education Reform and a noted authority on Ed Tech.
Founded in 1993, the Center for Education Reform aims to expand educational opportunities that lead to improved economic outcomes for all Americans — particularly our youth — ensuring that conditions are ripe for innovation, freedom and flexibility throughout U.S. education.
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Gov. Herbert to hold media availability via conference call to discuss testimony before the U.S. House of Representatives Natural Resources Committee
What: Gov. Herbert will hold media availability via conference call. He will take questions from media regarding his testimony before the U.S. House of Representatives Natural Resources Committee on H.R. 4532.
Who:
Gov. Gary R. Herbert
When:
Tues., Jan. 9, 2018 at 1:30 p.m. MST
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