As South Georgia Medical Center continues to expand its service lines and evolve into the region’s healthcare system, so does its economic impact. SGMC, which includes four hospitals (two in Lowndes County, one in Berian, and one in Lanier), reported total revenue for the local and state economy in 2021 at $1 billion.
According to a recent report released by the Georgia Hospital Association, the total economic impact of these expenditures, combined with an economic multiplier developed by the U.S. Department of Commerce’s Bureau of Economic Analysis, reached $1 billion. This production multiplier takes into account the “ripple” effect of hospital direct spending on other sectors of the economy, such as medical supplies, durable medical equipment and pharmaceuticals. Economic multipliers are used to model the effect of changes in an industry on the “circular flow” of spending within the economy.
Ronald E. Dean, President and Chief Executive Officer of SGMC, said: We will pass on quality care to future generations. ”
During the same period, the health system provided approximately $40.5 million in free care while maintaining more than 3,000 full-time jobs throughout South Georgia, according to SGMC. Applying the US Department of Commerce multiplier to the number of jobs reveals that SGMC economic activity supports an additional 7,000 jobs statewide. The hospital spent him $213 million on payroll and benefits, bringing his total household income to $482 million.
SGMC said it expects the economic impact of the system to continue to grow each year. In January, SGMC expanded Smith Northview Hospital’s capabilities to include emergency services and other specialty care. SGMC also recently undertook a $15 million expansion of Berrian County Hospital.
Physician recruitment is also a key factor in the growth of the healthcare system, with SGMC planning to admit 15 physicians in 2022 and add 19 more by the end of the year.
Dean said SGMC is committed to creating unparalleled access to care in the region. “It is essential for the health of our community that SGMC remains strong and vibrant. It is important for the growth of the region.”
Although this report only calculates the impact of SGMC’s hospital campus, the health system also operates 35 clinics, cancer centers, hospice facilities, retiree centers, skilled nursing facilities, imaging centers and emergency care centers. doing. SGMC routinely serves her over 400,000 residents across 15 county areas.
For more information, visit sgmc.org.