Hospitals responsible for 2 percent of economic output

Congressional District 5, which includes all of El Paso County, has 13 hospitals and a direct revenue of $1.1 billion.

That’s according to a new report from the Colorado Hospital Association, which examined the total economic impact of the state’s hospitals. The association is trying to stem health care cuts in Congress.

The total output for hospitals in district five, which includes both Memorial Health System and Penrose-St. Francis Health Services, is $1.8 billion. Denver’s district 1 has the highest output, at $18.8 billion, according to the report.

Hospitals in Congressional District 5, represented by Doug Lamborn, employ 9,100 people and are responsible for 5,200 additional, spin off jobs. They have a direct multiplier of 1.6 additional jobs for every hospital jobs.

The report also gave direct employee compensation numbers – for hospitals in the fifth Congressional District, employees made a total of $629.5 million. Spin-off compensation equaled $212.8 million

Overall, Colorado is home to 198 hospitals and health systems located in 45 counties. In 2009, these hospitals provided health care to a total of 8.9 million patients.

In 2010, Colorado hospitals accounted for $9.8 billion of the state’s gross state product, a measure of all economic output statewide. According to the hospital association, hospitals account for 2 percent of Colorado’s total output.

And they’re job creators, the report said. Between 2007 and 2010, hospitals in the state added 4,935 jobs, while the overall state economy lost more than 123,000 jobs.

Compensation for hospital employees statewide averaged $55,700, according to the report.

To view the entire report, go to the Colorado Hospital Association’s website.

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