Home Economy Report: CT hospitals, health systems pump $27.7B into state’s economy

Report: CT hospitals, health systems pump $27.7B into state’s economy

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Connecticut’s hospitals and health systems generate $27.7 billion for the state’s economy and drive growth in the health, medical and research fields, as well as in many other sectors, according to the Connecticut Hospital Association.

CT hospitalsThe group’s 2019 Economic Impact Report states that hospitals and health systems spent $7.6 billion on employee payroll, $5.4 billion on goods and services, and $840 million on capital projects. That $13.8 billion total has the effect of $27.7 billion when counting additional and ancillary jobs generated by the health care providers, CHA said, maintaining that while they directly employ 103,000 people, hospitals and health systems generate 204,000 jobs in the state.

The CHA also released its 2019 Community Benefit Report, which said that hospitals provided over 12.4 million services to individuals and families at a total cost of $1.7 billion, much of it comprised of unpaid costs of treating Medicare and Medicaid recipients.

According to CHA, community benefits in 2017 included:

  • $763 million for unpaid Medicare
  • $679 million for unpaid Medicaid
  • $196 million for uncompensated care
  • $26 million for community services to spur health communities
  • $12 million for research and other programs to advance health care
  • $7 million for community building
  • $7 million for subsidized health services to underserved populations

The $1.7 billion represents 15 percent of total hospital revenue, the CHA noted.

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