Medical schools and teaching hospitals fuel economy, study says

Residency Program Insider, October 20, 2009

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Medical schools and teaching hospitals are doing more than training tomorrow’s physicians—they’re also a powerful force in local economies.

The Association of American Medical Colleges this month reported that medical schools and teaching institutions had a combined economic impact of more than $512 billion on their state economies and the nation overall in 2008.

The nation’s 131 accredited medical schools and nearly 400 major teaching hospitals (all represented by the AAMC) employs 1.86 million individuals in full-time jobs. These institutions are also directly or indirectly responsible for 3.3 million full-time jobs.

"U.S. medical schools and teaching hospitals are substantial economic engines in terms of jobs, state tax revenues, and economic growth," said AAMC President and CEO Darrell G. Kirch, MD, in an Oct. 8th press release.

Read the complete report, The Economic Impact of AAMC-Member Medical Schools and Teaching Hospitals, 2008.  

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