Connecticut doctors provide a significant economic boon to the state’s economy, supporting tens of thousands of jobs and billions of dollars inĀ economic activity, according to an industry report published Wednesday.
In 2009, office-based physicians in Connecticut contributed $14 billion in economic activity and supported 51,962 jobs, according to a study from the American Medical Association.
Each office-based physician in Connecticut supports five additional jobs, the study found.
“Although physicians are primarily focused on providing excellent patient care, physician offices and the jobs and revenue they produce are significant contributors to state economies,” said AMA President Cecil B. Wilson. “This study illustrates that office-based physicians contribute to both the health of their patients and also to the economic health of their local communities.”
The study found that in comparison to other industries, office-based physicians almost always contribute more to state economies than hospitals, nursing homes and even the legal profession.
In Connecticut, office-based physicians, which make up the majority of practices in the state, contributed more to the economy than hospitals ($13.6 billion) and more than twice the legal profession ($6.6 billion), the report said.
“Every time a Connecticut physician leaves private practice because of the pressures caused by declining Medicare and Medicaid reimbursements, medical liability or the administrative hassles dealing with insurance companies, our state loses six jobs,” said David S. Katz, CSMS president. “Connecticut physician practices are small businesses that help drive the state economy. Our lawmakers need to understand that unless they do something to improve the practice climate for Connecticut physicians, we will see more job losses and more tax revenue lost while patients see reduced access to medical care they need.”
The findings show the economic impact of office-based physicians as measured through sales revenue, jobs, wages and benefits and tax revenue.