A new report conducted by Tripp Umbach, an economic consulting firm, and released by the American Medical Association, American Hospital Association and American Nurses Association, found that up to 766,000 healthcare and related jobs could be lost by 2021 as a result of the 2 percent sequester of Medicare spending mandated by the Budget Control Act of 2011.
The report's model reflects how reductions in Medicare payment for healthcare services will lead to direct job losses in the healthcare sector, reduced purchases by healthcare entities of goods and services from other businesses and reduced household purchases by workers who lose their jobs.
The model estimates that more than 496,000 jobs would be lost during the first year of the sequester, which begins in 2013. The lost jobs would spread throughout the nation and different economic sectors.
To read the full report, "The Negative Employment Impacts of the Medicare Cuts in the Budget Control Act of 2011," click here.
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The report's model reflects how reductions in Medicare payment for healthcare services will lead to direct job losses in the healthcare sector, reduced purchases by healthcare entities of goods and services from other businesses and reduced household purchases by workers who lose their jobs.
The model estimates that more than 496,000 jobs would be lost during the first year of the sequester, which begins in 2013. The lost jobs would spread throughout the nation and different economic sectors.
To read the full report, "The Negative Employment Impacts of the Medicare Cuts in the Budget Control Act of 2011," click here.
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