MONTGOMERY – Alabama’s nearly 9,000 patient care physicians fulfill a vital role in the state’s economy by supporting 83,095 jobs and generating $11.2 billion in economic activity, according to a new report released online by the Medical Association of the State of Alabama (MASA) and the American Medical Association (AMA).
“Urban or rural, large group or solo practitioner, Alabama physicians are major economic engines,” MASA President Michael Flanagan, MD, said. “While we are healers first, this study shows physicians can improve both patient health and the economy.”
The report focused on doctors of medicine (MDs) and doctors of osteopathy (DOs) who are engaged in treating patients as opposed to those who focus on research or teaching.
“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, MD. “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.”
With the changing health care environment, it is increasingly important to quantify the economic impact physicians have on our society. To provide lawmakers, regulators and policymakers with reliable information, the report measured the economic impact of Alabama’s physicians according to four key economic barometers. The overall findings in Alabama include:
• Jobs: Each physician supported an average of 9.5 jobs, including his/her own, and contributed to a total of 83,095 jobs statewide.
• Output: Each physician supported an average of $1.3 million in economic output and contributed to a total of $11.2 billion in economic output statewide.
• Wages and Benefits: Each physician supported an average of $758,744 in total wages and benefits and contributed to a total of $6.7 billion in wages and benefits statewide.
• Tax Revenues: Each physician supported $46,148 in local and state tax revenues and contributed to a total of $404.9 million in local and state tax revenues statewide.
The study found that, in comparison to other industries, patient care physicians contribute as much or more to the state economy than higher education, home health care, legal services, nursing and residential care.
The Medical Association of the State of Alabama exists to serve, lead and unite physicians in promoting the highest quality of healthcare for the people of Alabama through advocacy, information and education.
