US physicians supported 12.6M jobs in 2015: 5 findings

Physicians are a significant economic driver for their communities, according to a new report released Monday by the American Medical Association.

The report, titled "The National Economic Impact of Physicians," examines the economic contributions of 736,873 patient care physicians nationwide. All physicians were practicing as of December 2015.

Here are five findings at the national level.

1. Physicians generated $2.3 trillion in economic output (i.e., sales revenues) in 2015, with each physician, on average, generating $3.2 million in output, according to the report.

2. Physicians supported 12.6 million jobs in 2015, with each physician, on average, supporting 17.1 jobs.

3. Physicians contributed $1 trillion in total wages and benefits paid to workers in 2015, with each physician, on average, supporting $1.4 million in workers' wages and benefits, the AMA said.

4. Physicians supported $92.9 billion in state and local tax revenues in 2015, with each physician, on average, supporting $126,129 in these revenues.

5. Overall, the study found physicians' national-level economic output, supported jobs and contributed wages and benefits exceed that of professionals in higher education, nursing/community care facilities, legal services and home health.

Read the full report, including a state-by-state breakdown of physicians' economic effects, here.

 

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