Habersham Medical Center generates $80 million for local and state economy
DEMOREST/ATLANTA – Northeast Georgia residents can count on Habersham Medical Center not only for 24/7 lifesaving care but also on the medical center’ economic impact on the local and state economy. In 2011, Habersham Medical Center in Demorest generated $80,216,578 million in revenue for the local and state economy according to a recent report released by the Georgia Hospital Association, the state’s largest hospital trade association. The report also found that, during the same time period, Habersham Medical Center provided approximately $5.6 million in uncompensated care while providing more than 500 jobs.
The report revealed that Habersham Medical Center had direct expenditures of more than $35 million in 2011. When combined with the an economic multiplier developed by the United States Department of Commerce’s Bureau of Economic Analysis, the total economic impact of those expenditures was $80 million. 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. Economic multipliers are used to model the resulting impact of a change in one industry on the “circular flow” of spending within an economy as a whole.
“This new report shows that, even in these difficult economic times, Habersham Medical Center has a healthy financial impact on our local, as well as the state, economy,” says Jerry Wise, president and CEO of Habersham Medical Center. “We thank the community’s unwavering support of their local hospital and will continue to work hard to ensure that the citizens of this community have access to health care services that are second to none
in quality and affordability.”
Local leaders agree that Habersham Medical Center provides not only excellent care, but also is an economic engine; driving business and industry to relocate here. According to Judy Taylor, president of the Habersham Chamber of Commerce, “Habersham Medical Center is one of Habersham County’s greatest assets for recruiting business, industry and people. Before a business or family relocates to this area, they usually want to know about the health care available. This county is fortunate to have a hospital with the credibility and services of Habersham Medical Center.” Taylor also states that Habersham Medical Center is among the top five employers in Habersham County. The top five employers, according to the Habersham Chamber of Commerce, are Fieldale Farms with 2,000 employees, the Habersham Board of Education with 800, Mt. Vernon Mills 600, Ethicon 550 and Habersham Medical Center with 500 employees.
“More than half of our employees are residents of Habersham County,” adds Wise. “Our employees are invested into this community. Our annual payroll and benefits total more than $29 million. Even those employees who do not live in Habersham are daily consumers of goods and services. The GHA economic impact report also does not reflect the entire medical community. There are more than 40 physicians serving on Habersham Medical Center’s active medical staff. Each independent physician practice is a separate business and also contributes to the local economy.”