Washington County BLL arly Oe IOWA HOSPITAL ASSOCIATION Economic Impact of the Health Sector Hospitals * Nursing Homes Doctors & Other Health Professionals Pharmacies *Other Medical ServicesTowa Hospital Association Economic Impact of the Health Care Sector Main Objective . Derive the direct economic impact and total economic impact of the five health sectors and the total health sector for the state of lowa and each county. Direct Economic Activities Employment and income (sum of payroll and employee benefits expense) are the important direct economic activities created from the health sector. The health sector is divided into the following five components: Hospitals Offices of Physicians, Dentists, & Other Health Practitioners Nursing Home & Residential Care Other Medical and Health Services (includes home health care, county health departments, hospice, durable medical equipment suppliers, other ambulatory health care services, dental laboratories, ect.) . Pharmacies (Includes all pharmacy personnel) Income and Employment Multipliers ‘The health sector and the employees in the health sector purchase a large amount of goods and services from local businesses. These impacts are referred to as secondary impacts or benefits to the economy. In economics, this measure is called the multiplier effect. In the report provided, two multipliers are utilized. The “employment multiplier” is the ratio between direct employment and the direct, indirect, and induced employment. For example, an employment multiplier of 2.0 indicates that if one job is created by an industry, one additional job is created in other sectors due to ‘business (indirect) and household (induced) spending. ‘The “income multiplier” is the ratio between direct income and the direct, indirect, and induced income. For example, an income multiplier of 1.54 indicates that for each dollar created in that sector, 0.54 additional dollars are created throughout the area due to business (indirect) and household (induced) spending. Data Notes The economic impact results presented in this table including multipliers were obtained from the IMPLAN software, which can analyze county level data using an economic input-output model. It was developed by the U.S. Forest Service and is a model that allows for development of county multipliers. However, to break this information down to a hospital specific level, certain information required for running the model (eg., total employment, payroll and benefits of ‘employees, retail sales and pharmacy information) had to be manually entered into the system. This data was collected from the AHA Annual Survey, the Iowa Department of Revenue and Finance, the ‘U.S. Census Bureau and the Bureau of Economic Analysis.IOWA HOserTaL. ASSOCIATION, 2011 Feonomic Impact of the Health Sector ‘on Employment, Income, Retail Sales, and Safes Tax in Washington County a @ Q) a eo ©) a) ® oO Health Sector Employment Payroll & Proprietor Income Retail 6.0% Components Nox. _Milipier _Inmact_| Income Muller Tnpat Sales Sales Tax ospia Washingion County Hospital & Clinies 2a_142sia 351] $13,900,062 122611 __si7 sass] ___s3318846 199.131 IMosPITALs SUBTOTAL 2461514 381] 813,909,062 122611 $17,054,068] —__sa.318546 st, Pivaicians, Dents, & Other eal Praeiione® To ARSE 268] _ 9.477.576 123540 S11,708 564] .aTasr2 136714 Nursing & Residential Care 526 629] $14,265,315 121618 $17,373,456] _~83.381,002 5202-800 Pharmacies 3a 36[__ $718,000 1.17233 Suara $163,907 39.8] [Other Medical & Health Services ther ebony health care services M4 1.26016 a3] sosayn9 43008 918.853 si7gsis 10.79 Dental laboratories ©. 0.00000 4| so 0.c0000 ss %0 ry Home heath care services 17115680 ao] s4oa,s00_1.20e4s 487.67 $94,904 $5,694 lGTAER MED/LTH SVCS SUBTOTAL s_L21s4 G3) 5104731914298 31,406,524 373.719 316.23 [TOTALS Ln idl Sea Sedis.oug $564,956 Sayan Sowa Hamp Asscation2011 Economic Impact of the He th Sector ‘on Employment, Income, Retail Sales, and Sales Tax in State of towa a @ @) a 6) © oO 8) o Health Sector Employment Payroll & Proprietor Income Retail 6% Components Nos. __Muliplier —_Impact_| Income Muir Impact Sales Sales Tax Fomine Stat of Towa roses 1.95408 137731] $3,796,193993 1.59822 __6,067,153,798] _$1,813079;515 _$108,784,771 |HOSPITALS SUBTOTAL 70,484 1.95408, 137,731] $3,796,193,993 1.59822 $6,067,153,798| $1,813,079,515, $108,784,771| Phyiins, Dentists Gtr Hain Practones 2228 1.89412 79985] 83.163,204,163 1.40966 54,459,051 87] — 1.332.521, 984__s79951317| Nursing & Residential Care 55.349 138844 72,472] $1,490,812,107 5,35,098,599] —_$938,024.826 $38,281,490 [Pharmacies 7,603 _1,30400 9914] $213,987,000_ $282,165,052| $84,320,868 $5,059,252 [tier Medical & Heath Services Other ambuletory health are services 9689 181297 17566] $463,525.490 1.59190 s739.276200] $220.921,800 $13,255,308 Dental aboratories 16 182611 vo] $23.279577 1a02ss $32,653,860] $8,758128 «$585 89 Home health care services $212 136049 npdel $273,606 606 136098 saraaaears| 112014383 6,720,861 OTHER MED/HLTH SVCSSUBTOTAL T8517 1.60345 20691] 5760411673 1.50909 s1,140,766496] s34z.04a71 $20,561,057 [FOTALS Bedi “saass) S24. 036 Salsas $252,638.47) syapon Towa Hospital Associaton