The economic activity generated by hospitals through jobs and the purchasing of goods and services makes up 10.0% of the state’s entire gross domestic product.
Hospitals and health systems are often the largest employers in communities, generate many more jobs and are top 10 private sector employers in every region of New York.
New York hospitals’ #1 investment is in their people, including direct salary and benefits to their employees.
New York hospitals generate significant tax dollars and stimulate the economies of local communities and the whole state.
Adhering to their charitable mission, hospitals cover the cost of care provided to people in need; subsidize care and services to low-income, elderly, and under-served communities; and continuously invest in many community health initiatives.
In New York, 70% of inpatient discharges and 63% of outpatient visits are covered by Medicare and Medicaid.
A large share of hospital reimbursement comes from Medicare and Medicaid, which do not cover the cost of care. This underpayment is driven by large volumes of inpatient and outpatient services provided to individuals covered by these public insurance programs.