The economic activity generated by hospitals through jobs and the purchasing of goods and services makes up 9.6% of the state’s entire gross domestic product. Data are mainly from 2021 New York state hospital cost reports.
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. Data source: New York State Department of Labor 2021.
New York hospitals’ #1 investment is in their people, including direct salary and benefits to their employees. Data are mainly from 2021 New York state hospital cost reports.
New York hospitals generate significant tax dollars and stimulate the economies of local communities and the whole state. Data are mainly from 2021 New York state hospital cost reports and state/federal tax tables.
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. Data source: 2020 IRS Form 990 Schedule H, reported by hospitals. This figure does not include the billions more in community benefit provided by New York’s 22 public hospitals, which are exempt from filing this IRS form.
At this system, 73% of inpatient discharges and 64% 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.