AAMC member medical schools, teaching hospitals account for 3% of US GDP — 4 things to know

Written by Megan Wood | March 28, 2018 | Print  |

A new study revealed Association of American Medical Colleges-represented U.S. medical schools and teaching hospitals bring in about 3.1 percent of the nation's gross domestic product.

RTI International conducted the study on behalf of the AAMC.

Here are four things to know.

1. In 2017, these organizations contributed $562 billion-plus in value to the U.S. economy.

2. This economic contribution includes direct impact and substantial secondary impact in local communities. Secondary impact involves institutional purchases of equipment, services or supplies as well as employee purchases at local businesses.

3. Those schools and hospitals represented by the AAMC also account for 6.3 million-plus jobs, reflecting 3.3 percent of the nation's workforce.

4. Of those jobs, the wages, salaries and benefits add up to $386 billion.

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