Each year, hospitals in the state spend more than $1.4 billion on goods and services such as medical supplies, electricity and food. Taking into account how these funds flow from hospitals to vendors and businesses, that spending generates about $2.8 billion for the local economy, according to the report.
Furthermore, in 2012, hospitals in Rhode Island spent almost $90 million on facility improvements, generating approximately $181 million for the state economy. They also employ 20,800 healthcare professionals, with a total payroll of $1.9 billion, according to the report. Hospital employee spending on groceries, housing, clothing and other goods generates an estimated $3.7 billion in economic activity.
Overall, the report concludes hospitals are an “economic anchor” in Rhode Island.
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