COVINGTON, Ga. - In 2017, Piedmont Newton and Piedmont Rockdale Hospitals generated $369,322,633 in revenue for the local and state economy, according to a recently released report by the Georgia Hospital Association, the state’s largest hospital trade association.
Combined, the hospitals had direct expenditures of more than $157,917,930 in 2017. The total economic impact of those expenditures for Piedmont Newton was $165, 226, 012 and for Piedmont Rockdale was $204,096,651 when combined with an economic multiplier developed by the United States Department of Commerce’s Bureau of Economic Analysis. This output multiplier considers the “ripple” effect of direct hospital expenditures on other sectors of the economy, such as medical supplies, durable medical equipment and pharmaceuticals. Economic multipliers are used to model the resulting impact of a change in one industry on the “circular flow” of spending within an economy as a whole.
During the same time period, Piedmont Newton and Piedmont Rockdale Hospitals provided approximately $15,002,675 in uncompensated care while sustaining more than 1,499 full-time jobs throughout Newton, Rockdale and surrounding counties, as well as the state of Georgia. When a US Department of Commerce multiplier is applied to the jobs number, it is revealed that an additional 3,706 jobs are supported across the state due to the economic activity of Piedmont Newton and Piedmont Rockdale. The hospitals spent $117,764,294 in salaries and benefits, resulting in total household earnings in the community of $231,825,236.
“Piedmont Healthcare’s mission is not only to provide quality health care but also to serve as an economic engine for our community,” Richard Tanzella, chief executive officer for Piedmont Rockdale Hospital, said. “We are proud to partner with our communities to offer quality health care services close to home. As a leading employer in our region, we are dedicated to improving the people of our community.”
According to Tanzella, every community needs nearby access to a strong, vibrant health care system that will not only meet the health care needs of its residents, but also attract other industries and businesses to the area.
“Preserving access to health care is extremely important and we are the primary guardian of health in our community,” Tanzella said. “A healthy community depends on the strength of its hospital, both financially and in treating patients.”