Vital Sounds 2022, Quarter 1

Vital Sounds 2022, Quarter 1

Economic Impact of the Healthcare Sector

February 23, 2022

 

Economic Impact of the Healthcare Sector

February 23, 2022

Guest Article from the Kansas Hospital Association

The Kansas Hospital Association is pleased to share with you the January 2022 report: The Importance of the Health Care Sector to the Kansas Economy. This report was authored by the Office of Local Government, K-State Research and Extension. The report indicates the healthcare sector accounts for 12 percent of Kansas’ total employment, approximately 240,000 people. Hospitals alone employ five percent of all jobholders or about 100,000 people. The healthcare sector is the third largest aggregate employer in the state.

Further, the study’s authors calculate economic multipliers for several healthcare sectors and estimate the healthcare sector, directly and indirectly, accounted for approximately 406,800 jobs throughout Kansas. Of those jobs, hospitals in Kansas accounted for more than 192,500 jobs throughout all businesses and industries.

The report also includes economic multipliers for labor income. It estimates the healthcare sector, directly and indirectly, accounted for approximately $23.9 billion in total state income and more than $7.8 billion in state retail sales. Kansas hospitals specifically accounted for $12.3 billion in total income and more than $4.0 billion in retail sales.

While our industry continues to struggle with workforce challenges, we know that the work providers and hospitals do means a lot to Kansas communities and the local economies. Feel free to contact KHA at (785) 233-7436 for further information regarding the study. County economic impact reports are also online. More information, including a statewide media release, is available on the KHA website