The study, "The Economic Impact of Physician-Owned Hospitals in Eight States,” conducted by Health Economics Study Group, concluded that Texas physician hospitals, which employ over 22,000 Texans, have a net economic effect of nearly $2.3 billion on the Texas economy.
In addition, the study estimated that Texas physician hospitals will pay approximately $86 million in taxes (property, payroll and income taxes) in 2009.
"The study confirms that each one of the approximately 50 Texas physician hospitals serves as a leader in its community," said Bobby Hillert, TPHAC executive director, in a press release. "Not only are they revolutionizing the way that health care is delivered, physician hospitals are paying critical taxes that are re-invested in their communities, employing a significant number of Texans and many are providing charity and
uncompensated care as well.
"Texas physician hospitals come in a variety of forms: children’s hospitals, traditional general hospitals, hospitals specializing and excelling in certain specialties and joint ventures that partner with traditional non-profit hospitals. All of these physician hospitals have one thing in common: They are using innovative delivery models that focus on safety and quality," Mr. Hillert said.
The study determined the direct economic effect by calculating the sum of the payroll and capital expenditures for each physician hospital. It calculated the total effect by multiplying the direct effect by the multiplier.
A copy of the study will be posted on TPHAC’s Web site.
