Doctors and the Economy

The American Medical Association (AMA) recently set out to answer the question “What is the Economic Value of U.S. Physicians?”

The AMA released the data on January 8th, 2018 with a report titled “The National Economic Impact of Physicians”

Las Cruces Doctors

Each individual physician in the U.S. was responsible for:

  • $3.2 million in economic output
  • 17 new jobs
  • $1.4 million in wages and benefits to support staff
  • $126,129 in state and local taxes

 

Taking into account the effect of all U. S. Physicians:

(estimated 736,873)

  • 2.3 trillion in economic output
  • 12.5 million jobs supported
  • $1 trillion in wages and benefits
  • $93 billion in state and local taxes

 

What about the economic impact of Doctors vs Lawyers?

Physicians vs Lawyers- Economic Data

Dr Paul SaizSource: IQVIA

American Medical Association

Source: Orthopedics This Week (March 2018)