Study finds Georgia physicians accounted for $44+ billion in economic output in 2015
According to a new “Economic Impact of Physicians in Georgia” study that was released today by the Medical Association of Georgia (MAG) and the American Medical Association (AMA), physicians in Georgia created more than $44 billion in direct and indirect economic output in 2015 – which means that every physician in the state generated some $2.3 million in economic output. The report also found that…
– In 2015, physicians in Georgia supported more than 262,000 jobs (including their own), the total of direct and indirect positions. On average, each physician in the state supported about 13.5 jobs.
– Physicians in Georgia contributed more than $20 billion in direct and indirect wages and benefits for all supported jobs in 2015. On average, each physician in the state supported more than $1 million in total wages and benefits.
– Physicians in Georgia supported $1.6 billion in local and state tax revenues in 2015. On average, each physician in the state supported nearly $82,000 in local and state tax revenues.
MAG President Frank McDonald, M.D., M.B.A., explains that, “This study really underscores that in addition to maintaining a healthy and productive workforce in the state, physicians are a big and essential part of Georgia’s economy.”
AMA President David O. Barbe, M.D., M.H.A., adds that, “The study also 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.”
AMA reports that, “Across the country, physicians add $2.3 trillion to the U.S. economy, support more than 12.6 million jobs nationwide, contribute $1 trillion in total wages and benefits paid to U.S. workers, and generate $92.9 billion in state and local tax revenue.”
With nearly 8,000 members, MAG is the leading voice for physicians in Georgia. MAG represents physicians in every specialty and practice setting. Go to www.mag.org for additional information on MAG.
Click for one-page Georgia study summary
Click for full Georgia study report
Click for full U.S. report and interactive map