Virginia hospitals contribute $27.7B in economic activity

Virginia's hospitals provided $27.7 billion in economic activity during 2010, reported Virginia Business.

A report issued by the Virginia Hospital & Healthcare Association concluded that the state's hospitals provided $14.8 billion in direct spending or economic activity, and an additional $12.9 billion in indirect activity through spending by other businesses, patients or other individuals.

The economic impact jumped about 11 percent from 2009, when hospitals contributed about $25 billion to the state's economy.

"While they are vital to the physical wellbeing of their communities, this report highlights the value of the other assets (hospitals) bring to their communities," association President Laurens Sartoris said in a press release.

Hospitals also provided $2.2 billion in community benefits, up from $2 billion in 2009. That included $515 million in charity care and $312 million in community benefit programs. Their Medicaid shortfall totaled $318 million. The figures are based on hospital costs rather then charges.

Aside from the economic activity, the state's hospitals, ambulatory care centers and nursing homes provided 129,000 jobs, up 7,000 from the 2009 data.

To learn more:
- read the Virginia Business article
- here's the VHHA press release
- check out the report (.pdf)