EDITORS' RECOMMENDATIONS
Physicians engaged in patient care generated $1.6 trillion in economic activity and supported 10 million jobs nationwide in 2012, according to a new report by the American Medical Association (AMA).
The study found that physicians had a greater national economic impact than counterparts in higher education, home health care, legal services, nursing, and residential care.
"Spending on physician services grew more slowly between 2009 and 2012 than at any time in the last 15 years and accounts for only 16% of all health care dollars spent in the US in 2012," the AMA said in a statement. "Yet expenditures for physician services have a ripple effect through the economy. Every dollar applied to physician services supports an additional $1.62 in other business activity."
"Physicians carry tremendous responsibility as skilled healers, trusted confidants and patient advocates, but their positive impact isn't confined to the exam room," AMA President Ardis Dee Hoven, MD, said in the statement. "The new AMA study illustrates that physicians are strong economic drivers that are woven into their local communities by the jobs, commerce and taxes they generate. These quality jobs not only support the caring role of physicians, but also generate taxes that support schools, housing, transportation and other public services in local communities."/.../
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