In 2017, Piedmont Henry Hospital in Stockbridge generated $577, 024,196 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. Piedmont Henry had direct expenditures of more than $246,728,608 in 2017. The total economic impact of those expenditures was $577, 024,196 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 Henry provided approximately $19,332,242 in uncompensated care while sustaining more than 1,310 full-time jobs throughout Stockbridge and surrounding communities, 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 3,238 jobs are supported across the state due to the economic activity of Piedmont Henry. The hospital spent $110,502,007 in salaries and benefits, resulting in total household earnings in the community of $217,512,151.
“Piedmont Henry’s mission is not only to provide quality health care, but also to serve as an economic engine for our community,” Deborah Armstrong, chief executive officer of Piedmont Henry Hospital. “We are proud to partner with our Henry County to offer quality health care services close to home. As a leading employer in our region, we are dedicated to improving lives.”
According to Armstrong, 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,” said Armstrong. “A healthy community depends on the strength of its hospital, both financially and in treating patients.”
