A report from the Georgia Hospital Association (GHA) revealed that Piedmont Fayette Hospital in 2015 generated more than $203 million in revenue for the local and state economy.
“As we celebrate our 20th anniversary this year, we continue to be proud of the quality healthcare we provide to the community, as well as our role in protecting our area’s economic health,” said Piedmont Fayette CEO Michael Burnett. “We respect that responsibility and strive to be leaders in both categories.”
The report also found that, during the same period, Piedmont Fayette provided more than $16 million in uncompensated care — in effect, charity cases — while sustaining 3,003 full-time jobs throughout the county and state, according to Piedmont Fayette representative Michael Boylan.
Boylan said the report revealed that Piedmont Fayette had direct expenditures of more than $228 million in 2015. When combined with the economic multiplier developed by the U.S. Department of Commerce’s Bureau of Economic Analysis, the total economic impact of those expenditures was nearly $527 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,” said Boylan. “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, parent company Piedmont Healthcare generated more than $1.7 billion in revenue for the local and state economy. In addition to sustaining 23,570 full-time jobs across the state, Piedmont Healthcare provided over $100 million in uncompensated care in 2015.
