Hospitals Help in Boosting US Economy

Hospitals are the primary healthcare establishments that people rely on and they are the major contributors in boosting the US economy. According to data released by the American Health Association (AHA), hospitals spend more than $ 2.3 trillion in economic activity that includes $702 billion spending on goods and services from other business enterprises.

They are also the second largest employer of private jobs and they employ nearly 5.5 million people. As per AHA report, hospital establishments support direct and indirect jobs that amount to a total of 15.4 million. For example, hospitals in Massachusetts employed more than 197,000 people in 2012 and contributed over 51 billion dollars to the Bay State in 2011 according to a report released by the Massachusetts Hospitals Association.

Similarly, based on the report by the Hospital Association of Rhode Island, hospitals continue to be a major economic booster by generating 6.7 billion dollars in 2011. These reports prove that hospitals have a major influence on employment and economic growth in the US.

Even though hospitals are said to be generating revenues, there is somewhat equivalent spending in non-core activities such as medical transcription tasks that require dedicated human resources. To tackle this issue, hospitals can go for the services of a reliable medical transcription company that has a skilled and experienced team of medical transcriptionists that can complete the job assigned to them within the specified time with 99% accuracy. Usually, reputable companies offer affordable medical transcription services that can be customized as per client requirements. Some of the advantages of utilizing their services are customized turnaround times, 30 to 40% cost savings, and no long term yearly contracts. Most of the transcription companies offer free trial to help clients evaluate their services.