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New York hospitals generated $201 billion in economic activity in 2022—about 10% of the state’s $2 trillion gross domestic product for that same year, according to a recent report.
A December 2023 Healthcare Association of New York State (HANYS) analysis found that hospitals and health systems had major impacts on their local economies, generating an estimated 859,000 jobs, $56.4 billion in salaries and benefits, $30.6 billion in tax dollars, and at least $16.1 billion in community investments. And that’s up from previous years’ totals of $192 billion in economic activity and 856,000 jobs, HANYS estimated in a January 2023 report.
In addition to the economic effects, HANYS found that New York health systems and hospitals served nearly 58 million people in outpatient settings, 7.8 million in emergency departments, and 2.2 million in inpatient units in 2022. The facilities also delivered 207,000 babies.
Medicare and Medicaid patients accounted for about 70% of people admitted to New York hospitals in 2022, as well as 61% of all outpatients who received care. Just over half (53%) of hospital patient service revenue came from Medicare and Medicaid, HANYS noted.
The findings are primarily based on 2022 New York state hospital cost reports.