AMA examines economic impact of physicians

AMA examines economic impact of physicians
Physicians who mainly engage in patient care contribute a total of $1.6 trillion in economic output, according to the American Medical Association's Economic Impact Study.

(HealthDay)—Physicians who mainly engage in patient care contribute a total of $1.6 trillion in economic output, according to the American Medical Association (AMA)'s Economic Impact Study.

The study was prepared by IMS Health and estimated the economic impact of the approximately 720,000 physicians who mainly engage in activities at the national and state levels. Output, jobs, wages and benefits, and state and local tax revenue were measured.

According to the results of the study, these physicians support a total economic output of $1.6 trillion and 10 million jobs nationally, equivalent to $2.2 million and 13.84 jobs per physician. At the national level, physicians support $775.5 billion in wages and benefits. They also contribute $65.2 billion in total state and local taxes nationally, equivalent to a per-physician contribution of $90,449 in local and state tax revenue. Physicians support greater than legal services, , higher education, and nursing home and residential care at a national level.

"The new AMA study illustrates that physicians are strong economic drivers [who] are woven into their local communities by the jobs, commerce, and taxes they generate," Ardis Dee Hoven, M.D., president of the AMA, said in a statement. "These quality jobs not only support the caring role of , but also generate taxes that support schools, housing, transportation, and other public services in local communities."

More information: More Information

add to favorites email to friend print save as pdf

Related Stories

AMA provides resources to aid physicians' collections

Apr 06, 2014

(HealthDay)—The American Medical Association (AMA) has released resources to help doctors confront policy jumpers who may pose a financial risk to physicians during the Affordable Care Act's 90-day premium ...

AMA details top five federal issues for 2014

Jan 06, 2014

(HealthDay)—Implementation of the Affordable Care Act, the repeal of Medicare's failed sustained growth formula, and the proposed roll-out of the International Classification of Diseases, Version 10, top ...

US adults want physicians managing their health care

Dec 24, 2013

(HealthDay)—U.S. adults prefer physicians to non-physicians for health care and would choose a physician to lead their medical team, according to the results of a survey commissioned by the American Academy ...

Bills for SGR repeal pass senate, house committees

Dec 16, 2013

(HealthDay)—The U.S. House Ways and Means Committee and the U.S. Senate Finance Committee have passed their versions of the bill to repeal Medicare's failed sustainable growth rate (SGR) formula, according ...

Recommended for you

Study: Americans endure unwanted care near death

2 hours ago

Americans suffer needless discomfort and undergo unwanted and costly care as they die, in part because of a medical system ruled by "perverse incentives" for aggressive care and not enough conversation about what people want, ...

Failed Medicare payments law remains relevant

2 hours ago

In a new commentary in the journal JAMA Surgery, Dr. Eli Adashi recounts what he and other advocates saw as merits of the originally bipartisan Sustainable Growth Rate Repeal and Medicare Provider Paymen ...

User comments