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Friday, Apr. 29, 2016

County Health Care Sector's impact $34.8 million annually

Thursday, March 1, 2012

Cherokee Regional Medical Center a dynamic component

The financial impact of the Health Sector in Cherokee County totaled $28.4 million in 2011, with the Cherokee Regional Medical Center accounting for approximately $12.4 million of that in unaudited totals of salaries and benefits.

The totals are compiled and supplied annually by the Iowa Hospital Association (IHA), with Cherokee County's Health Sector including the CRMC; physicians, dentists, and other health practitioners; nursing and residential care facilities; pharmacies; home health care services; and other ambulatory health care services.

The CRMC employs 255 full-time and part-time, and as-needed (prn) employees, with more than 70-percent of them residing in Cherokee County.

According to the IHA, the total number of Cherokee County Health Sector employees reaches 840, including the CRMC (255); physicians, dentists, and other health practitioners (188); nursing and residential care (319); pharmacies (48); home health care services (19); and other ambulatory health care services (17).

This County Health Sector generates on its own an estimated $6.8 million annually in retail sales in Cherokee County, contributing $410,579 in sales taxes at a 6-percent rate.

Of the Health Sector's $28.4 million in payroll and proprietor income, that local economic impact, based on county and state multipliers, totals an estimated $34.8 million in the County each year.

In addition to the CRMC totals, a further breakdown of the various Health Sector components, according to the IHA, shows payroll and proprietor income for physicians, dentists, and other health practitioners at $8.8 million; nursing and residential care at $8.2 million; pharmacies at $1.4 million; home health care services at $425,000; and other ambulatory health care services at $510,000.

Statewide, according to the IHA, hospitals generate approximately $3.9 billion in payroll and proprietor income, and the entire Iowa Health Sector based on the same components as those already mentioned for counties, totals more than $9.85 billion.

This statewide economic impact of the Iowa Health Sector then totals $14.8 billion after factoring in the multiplier, which extrapolates into $4.2 billion in retail sales, and $250 million in sales taxes at a 6-percent rate.

In Iowa, hospitals have about 70,400 employees on the payroll; physician, dentists, and other health practitioners account for 43,200 employees; nursing and residential care 54,900; pharmacies 7,500; home health care services 8,400; and other ambulatory health care services 10,000.

To formulate its numbers, the Iowa Hospital Association collected data from the American Hospital Association, the Iowa Department of Revenue and Finance, the U.S. Census Bureau, and the Bureau of Economic Analysis.



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