NJ Physicians Generating $1.7B in Economic Activity

By George N. Saliba, Managing Editor On Apr 17, 2014

While businesses have been intensely focused on the Affordable Care Act and its associated impacts, perhaps less has been written about the economic impact of physicians themselves.  The American Medical Association and the Medical Society of New Jersey yesterday released a report asserting that New Jersey’s 22,000-plus patient-care-providing physicians support an additional 234,906 jobs and generate approximately $1.7 billion in economic activity.  Also, each physician supported an average of $77,302 in state and local tax revenues.

In a prepared statement, AMA President Ardis Dee Hoven, M.D. said, “Physicians carry tremendous responsibility as skilled healers, trusted confidants and patient advocates, but their positive impact isn’t confined to the exam room.  The new AMA study illustrates that physicians are strong economic drivers that are woven into their local communities by the jobs, commerce and taxes they generate. These quality jobs not only support the caring role of physicians, but also generate taxes that support schools, housing, transportation and other public services in local communities.”

To view the full report, visit www.ama-assn.org/go/eis

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