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Lifespan, Care New England merger would provide $3.3B in economic impact, report finds

The proposed merger among Lifespan, Care New England and Brown University — all based in Providence, R.I. — would increase the economic impact of the academic medicine sector from $8.2 billion in 2020 to $11.5 billion by 2035, an independent report found.

The analysis was by consulting firm Tripp Umbach and was commissioned by Brown University.

Five additional findings:

1. Rhode Island is behind nearby states on academic medicine industry impact and ranks last on biomedical economic impact compared to other peer metropolitan areas.

2. Brown University has the largest economic impact compared to independent medical schools in the country. However, the major teaching hospitals in Rhode Island provide lower economic impact compared to peer markets, the report found.

3. The integrated academic medical center that would be created from the merger would improve biomedical economic development in the state and would provide about 10,000 new jobs by 2035, according to the report.

4. The researchers predict that clinical care is less effective and efficient when Lifespan and Care New England operate separately than it would be if they operated together.

5. Collaborating with payers through an integrated academic health center would allow the organizations to find ways to prevent expensive diseases, the report said.

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