Tennessee doctors generate $20 billion in economic activity

Tennessee doctors generate $20 billion in economic activity

April 18th, 2014 by Staff Report in Business Around the Region

Dr. James T. Newby works at Doctors Express Urgent Care located at 1521Gunbarrel Road.

Photo by Tim Barber/Times Free Press.

Tennessee doctors support more than 143,000 jobs and generate $20.1 billion in economic activity, according to a new report released Thursday by the Tennessee Medical Association and the American Medical Association.

"Tennesseans rightfully tend to think of our physicians first as healers and patient advocates. It's important to also acknowledge the financial contributions of medical practices in our state," said Russ Miller, TMA CEO, in a statement. "They not only provide an essential community service, but they also create jobs. They play a critical role in sustaining and growing local and state economies."

The report quantifies the economic impact physicians have on each state and the U.S. as a whole, measuring physicians' economic impact according to four key economic barometers: Jobs, output, tax revenues, and wages and benefits.

The study focused on the roughly 720,000 U.S. physicians who primarily engage in patient care activities, as opposed to those who focus on research or teaching.

Of these, 14,026 physicians practiced in Tennessee.

The report found that each physician generated an average of 10.21 jobs and contributed to a total of 143,229 jobs statewide, including their own.

Each doctor also produced more than $1.4 million in economic output, and supported $44,119 in local and state tax revenues - for a total of $618.8 million in local and state tax revenues statewide.

The report found that doctors contribute to $11.7 billion in wages and benefits statewide.