Government & Public Affairs (see more articles like this)

You know how the famous commercial goes…

• $240,000 on hotels
• $65,000 on florists
• $1.7 million on food
• $25 million on telephone services
• $9.2 million on electricity and water
• The price of a healthy hospital system in your community? PRICELESS.

In a study released today, it was shown that healthcare is one of the area’s driving economic forces – with Florida Hospital contributing $2.05 billion in 2002.

Hosted by the Orlando Chamber of Commerce and the Metro Orlando Economic Development Commission, the event announced a surprising new study conducted by two University of Central Florida professors. The Financial Analysis and Community Impact Assessment of Florida Hospital showed that as the nation’s healthcare budget grows, hospitals and the healthcare sector overall are becoming even greater economic contributors to the communities they serve.

“The purpose of this survey was to show how there is an increasing focus on healthcare as an important economic driver in the nation and the region,” said UCF Researcher Guy. “In the end, it showed that as local leaders work to diversify the regional economy, healthcare will be one of the strongest elements to make that happen.”

• Some highlights from the study include:
  Florida Hospital contributes $1.14 billion to the community as an employer to more than 14,000 people.
  
• As a healthcare provider, Florida Hospital contributes more than $893,000 to the community by treating 900,000 patients each year. Florida Hospital is also the largest Medicare provider in the nation, and has more admissions than any other hospital in America.
  
• As a community leader, Florida Hospital and its employees have a combined cash contribution of $11 million to the community. An additional $300,000 worth of office space is also donated to various community organizations.

“This is truly an eye-opening study,” said Jacob Stewart, President, Orlando Regional Chamber of Commerce. “This just shows what a economic powerhouse the healthcare industry is in our area. As a community, we are very fortunate that Florida Hospital would allocate the time and financial resources to conduct such a study.”

The study’s results included information from the Central Florida group of Florida Hospitals which consist of the Orlando, Altamonte, Apopka, East Orlando, Kissimmee, Celebration Health and Winter Park campuses.

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