Patients are often confused about the di erences between various types of health care providers but statistics show they place a high value on physician-led teams.
Physicians bring economic health to Louisiana’s communities. Beyond their role in safeguarding the health of our communities, physicians in Louisiana are a major driver of the state economy, spurring economic growth and creating jobs across all industries. Louisiana physicians hire locally, buy locally and support the local economy. Through the creation of jobs with strong wages and benefits paid to workers across the state, physicians empower a high-quality, sustainable workforce that generates state and local tax revenue for community investments. Physicians’ economic output—the value of the goods and services provided—helps other businesses grow through their own purchasing and through the purchasing of their employees. Each dollar in direct output applied to physician services supports $1.85 in economic activity in Louisiana, and physician-driven economic activity is greater than legal services, home health care, higher education, and nursing home and residential care. View the 2018 American Medical Association Economic Impact Study to learn more about the contributions physicians make to the health of Louisiana’s economy at PhysiciansEconomicImpact.org.
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Patients want access to the highest quality care at an a ordable price. Solutions to the primary care shortage must consider patient perspectives and the high value they place on physician-led teams.
VITAL SIGNS: THE ECONOMIC IMPACT OF PHYSICIANS IN LOUISIANA 1
Jobs 119,515 Direct jobs .................................................................................................................................................48,336 Indirect jobs .............................................................................................................................................71,179 Average jobs supported by each physician ................................................................................... 11.9 $ 19.9 billion Direct economic output ..................................................................................................... $10.7 billion Indirect economic output .....................................................................................................$9.1 billion Percent of total GSP/GDP 2 ..................................................................................................................8.3% Average economic output generated by each physician................................ $2.0 million Economic activity Wages and benefits $8.9 billion Direct wages and benefits ....................................................................................................$5.9 billion Indirect wages and benefits ................................................................................................$3.0 billion Average wages and benefits supported by each physician................................ $888,745
State and local tax revenue $646.5 million Average state and local tax revenue generated by each physician................ $64,254
1. The economic impact of physicians in Louisiana (QuintilesIMS, January 2018). 2. US Bureau of Economic Analysis: Current-Dollar GDP by State, 2015.
2018 AMA ECONOMIC IMPACT STUDY
© 2018 American Medical Association. All rights reserved. 17-167526:11/17
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J LA MED SOC | VOL 173 | SUMMER 2021
J LA MED SOC | VOL 173 | SUMMER 2021
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