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New study: physicians bring economic health to Wisconsin

A study released this week by the Wisconsin Medical Society and the American Medical Association shows that in addition to safeguarding the health of Wisconsin communities, physicians are major drivers of the state’s economy, spurring economic growth and creating jobs across all industries.

Using four key economic indicators—jobs, economic activity, wages and benefits, and state and local tax revenue—the study quantifies the impact Wisconsin physicians have on the economy statewide. Physicians support 151,072 jobs, or an average of 12 per physician, generate $25.8 billion in economic output (8.5 percent of Wisconsin’s economy), contribute $13.3 billion in total wages and benefits, and contribute $1.2 billion in state and local tax revenue.

“Physicians make a difference in the lives of the patients and families they care for every day,” said Society CEO Bud Chumbley, MD, MBA, in this press release. “And while the value of that physician/patient relationship is immeasurable, this report brings to light the added impact physicians have on Wisconsin’s economy—an impact that is enormous.”

To view the full report: The Economic Impact of Physicians in Wisconsin, click here. And click here to access a one-page overview.

For more information about the study and national results, click here.

Back to January 11, 2018 Medigram