Piedmont Fayette Hospital generates $182 million for local and state economy, report says
Piedmont Fayette Hospital in Fayetteville generated more than $182 million in revenue for the local and state economy in 2014, according to a report by the Georgia Hospital Association.
The report also found that, during the same period, Piedmont Fayette provided more than $16 million in uncompensated care while sustaining 3,486 full-time jobs throughout the county and state.
“Residents of Fayette County and the surrounding areas count on this hospital to provide excellent healthcare and a great place to work,” said Michael Burnett, CEO of Piedmont Fayette. “We respect that responsibility and continually strive to be leaders in both categories.”
The report revealed that Piedmont Fayette had direct expenditures of more than $215 million in 2014. 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 $493 million.
This output multiplier considers the “rippled” 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.
“When you consider our current expansion and the needs that have made the project necessary, you can see tangible evidence of the impact Piedmont Fayette has in the community,” said Burnett. “We are proud to be a part of Piedmont Healthcare, a leading healthcare system in Georgia, and to be able to contribute to the health and well-being of people living in the communities we serve.”
According to the same economic impact report, Piedmont Healthcare generated more than $1 billion in revenue for the local and state economy. In addition to sustaining 19,836 full-time jobs across the state, Piedmont Healthcare provided nearly $85 million in uncompensated care in 2014.
For more information, visit piedmont.org.
