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LRH Creates $20.4 Million Impact on Local Economy

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June 25, 2020 – Lakes Regional Healthcare generates 474 jobs that add $20.4 million to Dickinson County’s economy, according to the latest study by the Iowa Hospital Association.  In addition, Lakes Regional Healthcare employees by themselves spend $6.6 million on retail sales and contribute $393,000 in state sales tax revenue.

 

“A hospital is an asset to any community. It provides communities with easy access to a broad spectrum of essential health care services – primary care, surgery, emergency care, and more,” said Lakes Regional Healthcare President and CEO Jason Harrington. “We are proud to provide the economic benefit to the area as a large employer in addition to community benefits in the form of charity care and free and reduced-cost services like immunizations and health screenings, not to mention the over $730,000 of uncompensated care we provide each year.”

 

The IHA study examined the jobs, income, retail sales and sales tax produced by hospitals and the rest of the state’s health care sector.  The study was compiled from hospital-submitted data on the American Hospital Association’s Annual Survey of Hospitals and with software that other industries have used to determine their economic impact.

 

The study found that Iowa hospitals directly employ over 78,000 people and create another 144,000 jobs outside the hospital sector. As an income source, hospitals provide over $5 billion in salaries and benefits and generate another $8.1 billion through other jobs that depend on hospitals.

 

In all, Iowa’s health care sector, which includes offices of physicians, dentists and other health practitioners, nursing home and residential care, other medical and health services and pharmacies, contributes $19 billion to the state economy while directly and indirectly providing over 347,000 jobs, or about one-fifth of the state’s total non-farm employment.

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