Texas Physicians Inject Billions into Lone Star States Economy

New study shows physicians support more than 670000 Texas jobs generate nearly $118 billion in economic activity Texas Insider Report: AUSTIN Texas Physicians add opportunity growth and prosperity to the Texas economy by creating 670172 jobs and generating $117.9 billion in state economic activity according to a new report The Economic Impact of Physicians in Texas released today by the Texas Medical Association (TMA) and the American Medical Association (AMA). Everyone knows whether in small towns or large cities Texas doctors care for our communities health but this study shows those same physicians are vital to the economic health of those cities towns and Texas as a whole said Carlos J. Cardenas MD TMA president. Texas physicians truly improve the health of Texans but clearly also improve the health of Texas growing economy. It is remarkable. The study quantifies the boost that Texas 51333 active patient care physicians provide to the states economy producing a ripple effect that is felt statewide. The study measures physicians impact using four key economic indicators:

• Jobs: Physicians support 670172 total jobs in Texas 13.1 jobs for each physician on average.
• Economic activity: Physicians generate $117.9 billion in economic output comprising 7.3 percent of the Texas economy. Each physician generates $2.3 million for the local and state economy on average.
• Wages and benefits: Physicians contribute $55.4 billion in total wages and benefits paid to workers across Texas empowering a high-quality sustainable workforce. Each physician contributes $1.1 million to workers wages and benefits on average.
• State and local tax revenue: Physicians contribution to the Texas economy generates $3.5 billion in state and local tax revenue for their communities translating to $68599 in tax revenue paid for each physician on average helping to pay for our schools roads criminal justice system and health care services for all Texans.

The positive impact of physicians extends beyond safeguarding the health and welfare of their patients said AMA President David O. Barbe MD. The Economic Impact Study illustrates that physicians are woven into their local communities and have a vital role in fueling state economies by creating jobs purchasing goods and services and supporting public services through the tax revenue they generate. The report found that every dollar applied to physician services in Texas generates an additional $2.13 in other business activity. An additional 7.66 jobs above and beyond the clinical and administrative personnel that work inside physician practices are supported for each $1 million of revenue generated by a physicians practice. In addition Texas physicians generate more economic output produce more jobs and pay more in wages and benefits than higher education nursing and community care facilities legal services and home health. Across the country physicians add $2.3 trillion to the U.S. economy support more than 12.6 million jobs contribute $1 trillion in total wages and benefits paid to U.S. workers and generate $92.9 billion in state and local tax revenue. About TMA: TMA is the largest state medical society in the nation representing more than 50000 physician and medical student members. It is located in Austin and has 112 component county medical societies around the state. TMAs key objective since 1853 is to improve the health of all Texans.