Study: Piedmont Fayette Hospital boosts economy by $203 million

Study: Piedmont Fayette Hospital boosts economy by $203 million

Piedmont Fayette Hospital generated more than $203 million in revenue for the local and state economy in 2016, according to a report by the Georgia Hospital Association.

The report also found that, during the same period, Piedmont Fayette provided more than $18 million in uncompensated care while sustaining 3,205 full-time jobs throughout the county and state.

Michael Burnett, CEO of Piedmont Fayette Hospital. File photo.
Michael Burnett, CEO of Piedmont Fayette Hospital. File photo.

“We focus on the safety and well-being of our patients, but we care about the economic well-being of this community and its citizens as well,” said Michael Burnett, CEO of Piedmont Fayette. “We are grateful to be part of Fayette County and are proud of the partnerships we have made that strengthen the health and well-being of this area and its citizens.”

The report revealed that Piedmont Fayette had direct expenditures of more than $244 million in 2016. When combined with the economic multiplier developed by the United States Department of Commerce’s Bureau of Economic Analysis, the total economic impact of those expenditures was nearly $562 million.

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.

According to the same economic impact report, Piedmont Healthcare generated more than $1.6 billion in revenue for the local and state economy. In addition to sustaining 26,649 full-time jobs across the state, Piedmont Healthcare provided over $135 million in uncompensated care in 2016.

For more information, visit piedmont.org.