Each year, hospitals and health systems across New York State generate $138.1 billion in economic activity through jobs and the purchasing of goods and services, according to a new report from the Healthcare Association of New York State.
That's more than 10 percent of the state's entire gross domestic product.
Here are seven key findings from the report on these hospitals and health systems.
1. New York State hospitals and health systems provide care to 53 million outpatients, 8.5 million emergency room patients and 2.2 million inpatients annually.
2. The report also found hospitals and health systems are among the largest employers in every region of the state, directly and indirectly generating more than 777,000 jobs annually.
3. Each year, New York's private, nonprofit hospitals and health systems provide $7.8 billion in free care, financial assistance and other community health improvement programs.
4. Nearly half of New York's hospitals and health systems have negative operating margins.
5. Seventy percent of New York's hospitals and health systems are in fair or poor financial condition. For instance, The New York State comptroller's office recently said it is "imperative" city officials devise a way to stabilize NYC Health + Hospitals' finances following projections the hospital system will end the current fiscal year with its lowest cash level in at least 15 years, according to Bloomberg Business.
6. New York's healthcare facilities are the sixth oldest in the nation.
7. Each year, hospitals and health systems in New York State lose billions of dollars treating Medicaid and Medicare patients because of government underpayment, the report found. In New York, Medicaid pays 76 cents for each dollar of care provided; Medicare pays 97 cents.
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