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Learn about policy issues important to medical schools and teaching hospitals, with Executive Vice President Atul Grover, M.D., Ph.D.

Washington Highlights

New Study Shows AAMC-Member Institutions’ Economic Impact Totals $587 Billion, Nearly 3.5 Million Jobs

December 21, 2012—In a study commissioned by the AAMC, Tripp Umbach found that AAMC-member teaching hospitals and medical schools had a combined economic impact of $587 billion and supported nearly 3.5 million jobs, directly or indirectly, in 2011. AAMC President and CEO Darrell G. Kirch, M.D., said, “This study demonstrates how important medical schools and teaching hospitals are to the nation’s health.”

The study noted that “AAMC member organizations have substantial economic and social impacts on their multi-county regions and within the counties and cities where they have operations.… Communities in all regions of the country typically rely on these institutions for job creation, high-quality medical care, advanced research, new business development, and education of medical professionals.”

The study also found in 2011, one in every 40 wage earners in the U.S. worked either directly or indirectly for a U.S. medical school or teaching hospital. This is an increase in economic impact of nearly 15 percent from 2009. The study said, “The business volume generated by AAMC members creates jobs in a broad range of sectors throughout the nation’s economy. These jobs are proportionate to the need to service the AAMC members themselves and their related populations (staff, physicians, students, etc.).”

Additionally, AAMC-member institutions generated more than $34 billion in total state tax revenue through taxes produced by businesses that receive revenue from AAMC members.

The report also examined the impact of the publicly-funded research conducted by AAMC member medical schools and teaching hospitals, stating, “Nationwide, the economic impact generated by state and federal funding for research consists of nearly $17.3 billion in direct spending, and an additional $27.6 billion in indirect economic impacts.” Nearly 300,000 jobs are attributed to AAMC-member research derived from federal and state sources.

Contact:

Dave Moore
Senior Director, Government Relations
Telephone: 202-828-0559
Email: dbmoore@aamc.org

Jennifer Gold
Senior Research Associate
Telephone: 202-828-0622
Email: jgold@aamc.org

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Washington Highlights, a weekly electronic newsletter, features brief updates on the latest legislative and regulatory activities affecting medical schools and teaching hospitals.


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For More Information

Jason Kleinman
Sr. Legislative Analyst, Govt. Relations
Telephone: 202-903-0806
Email: jkleinman@aamc.org