Hospital Pumped $227 Million Into Local, State Economy In 2014: Report

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CARTERSVILLE, GA -- In 2014, Cartersville Medical Center generated more than $227 million in revenue for the local and state economy, according to a recent report by the Georgia Hospital Association.

The state’s largest hospital trade association also found that, during the same time period, the hospital provided over $13 million dollars in uncompensated care (direct cost) while sustaining more than 650 full and part-time jobs in Cartersville and surrounding areas.

Cartersville Medical Center released the news on Wednesday.

Additionally, it was determined that, based on the Georgia Employment Multiplier, 1,504 Georgia full-time jobs were created as a result of the impact of Cartersville Medical Center on the state’s economy. This number does not include the number of people directly employed by the hospital.

“While Cartersville Medical Center is well known for its role in meeting the health care needs of the residents of Cartersville, Bartow County and surrounding areas, it also plays an integral role in protecting our area’s economic health,” said hospital CEO Keith Sandlin. “We are so appreciative of our community’s unwavering support of their local hospital and will continue to work hard to ensure that the residents of this area have access to the best and safest health care services available.”

The report revealed that Cartersville Medical Center had direct expenditures of more than $100 million dollars in 2014.

When combined with an economic multiplier developed by the United States Department of Commerce’s Bureau of Economic Analysis, the total economic impact of those expenditures was more than $227 million dollars.

This output multiplier considers the “ripple” effect of direct hospital expenditures on other sectors of the economy, such as medical supplies, durable medical equipment and pharmaceuticals.

Economic multipliers are used to model the resulting impact of a change in one industry on the “circular flow” of spending within an economy as a whole.

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Image via Cartersville Medical Center