WCRMC Generates $38 Million for Local and State Economy
In 2015, Washington County Regional Medical Center (WCRMC) generated more than $38 million in revenue for the local and state economy, according to a recent report by the Georgia Hospital Association, the state’s largest hospital trade association. The report also found that, during the same time period, WCRMC provided approximately $1.8 million in uncompensated care while sustaining more than 400 full-time jobs throughout the Washington County area and the rest of the state.
“While WCRMC is known for its role in meeting the health care needs of the residents of Washington County, it also plays an integral role in protecting our area’s economic health,” said WCRMC Interim Chief Executive Officer Robert Trimm. “We’re proud of our partnership with the local community and will continue to work hard to ensure that area residents have access to the best and safest health care services available.”
The economic impact report is based on the American Hospital Association’s study, “Beyond Health Care: The Economic Contributions of Hospitals,” and includes information from the Regional Input-Output Modeling System (RIMS II) economic multipliers for hospitals and nursing and residential care facilities. Data from the 2015 Georgia Department of Community Health is the most currently available and showed that WCRMC had direct expenditures of $16,536,025. When combined with an economic multiplier developed by the U.S. Department of Commerce’s Bureau of Economic Analysis, the total economic impact of those expenditures was $38,044,433. This output multiplier considers the “ripple” effect of direct hospital expenditures on other sectors of the economy, such as medical supplies, durable medical equipment and pharmaceuticals.
“Our local health care system is indispensable,” said Jim Croome, chairman of the Hospital Authority of Washington County. “WCRMC is not only the primary guardian of health in our community, but also a major economic engine in this area that is directly responsible for 416 jobs.”
Close access to a strong, vibrant health care system is not only important to maintaining the health of citizens, but it’s also critical in attracting other industries and businesses to the area.
For more information about the economic impact study, visit www.gha.org.