Beyond their role of safeguarding a healthy community and a productive work force, physicians have a huge positive impact on the national and state economies, as demonstrated in the AMA Economic Impact Study, completed in conjunction with state medical associations.
Physicians support their local communities through the creation of jobs with their related wages and benefits, the purchase of goods and services and large-scale support of state and local tax revenues. The AMA Economic Impact Study quantifies that impact and underscores that physicians are vital economic drivers in local communities, contributing to better health care and a more productive society.
The AMA Economic Impact Study demonstrates that each physician supports an average of:
- $2.2 million in economic output and contributes to a total of $1.6 trillion in economic output nationwide.
- 13.84 jobs and contributes to a total of 10 million jobs nationwide.
- $1.1 million in total wages and benefits and contributes to a total of $775.5 billion in wages and benefits nationwide.
- Plus, each physician supports $90,449 in local and state tax revenues and contributes to a total of $65.2 billion is local and state tax revenues nationwide.
Check the effect that physicians have on the U.S. economy by downloading the full national report, including data by specialty or a summary overview of the AMA Economic Impact Study. At the national level, physicians support greater economic output than legal services, home health care, higher education or nursing home and residential care. Every dollar applied to physician services supports an additional $1.62 in other business activity.