Teaching hospitals and medical schools in the United States created an economic impact of $587 billion in 2011, a 15 percent increase from 2009, according to a report from the Association of American Medical Colleges (pdf).
The study looked at the economic impact of 133 medical schools and 255 teaching hospitals within AAMC, meaning the average AAMC-member organization had an individual economic impact of $1.51 billion. "Economic impact" was defined as both the direct and indirect business volume generated by a medical school or teaching hospital.
Of the $587 billion in economic business, $255 billion involved direct spending, such as capital improvements and purchases of goods, while $332 billion related to indirect spending, such as business generated by teaching hospitals and medical schools in other sectors.
AAMC members also created 3.5 million full-time jobs in 2011, according to the report.
The study looked at the economic impact of 133 medical schools and 255 teaching hospitals within AAMC, meaning the average AAMC-member organization had an individual economic impact of $1.51 billion. "Economic impact" was defined as both the direct and indirect business volume generated by a medical school or teaching hospital.
Of the $587 billion in economic business, $255 billion involved direct spending, such as capital improvements and purchases of goods, while $332 billion related to indirect spending, such as business generated by teaching hospitals and medical schools in other sectors.
AAMC members also created 3.5 million full-time jobs in 2011, according to the report.
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