Economic Impact of Patient Care Physicians in Massachusetts

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Download Massachusetts report. (.pdf, 37 pages)

Download U.S. report. (.pdf, 46 pages)

A recent economic impact study conducted by IMS Health, on behalf of the American Medical Association, demonstrates the significant level of support that physicians generate for the Massachusetts economy - $39.5 billion in sales revenue, and nearly a quarter million jobs.

The study results also clearly indicate that creating an environment that would attract new and retain existing physicians to meet expanding health care demands will also have the added benefit of increasing the number of good jobs in Massachusetts, and improve the health of the local economy.

Key economic benefits provided by physicians both nationally and in Massachusetts in 2012 include:

Mass.   U.S.
Total Patient Care Physicians23,815 720,421

Jobs
Total Direct Jobs Supported
by Physician Industry
110,279 3,336,077
Total Indirect Jobs Supported
by Physician Industry
131,850 6,632,265
Total Jobs Supported
by Physician Industry
242,129 9,968,342
Average Jobs Supported by
Each Physician Including
His/Her Own
10.2 13.8

Sales Revenue
Total Sales Revenue Generated
by Physician Industry
$39.5 Billion $1.6 Trillion
% of Total GSP/GDP9.8% 10.2%

Wages and Benefits
Total Wages and Benefits
Supported by Physician Industry
$22.8 Billion $775.5 Billion

Local and State Tax Revenue
Total Local and State Tax
Revenue Supported by Physician Industry
$1.8 Billion $65.2 Billion

Data: "The State Level Economic Impact of Physicians Report" (IMS Health, March 2014), except for GSP data, which is from US Bureau of Economic Analysis, "Current-Dollar GDP by State, 2012"

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