Kevin Downey, Colorado Hospital Association
(720) 330-6019
kevin.downey@cha.com

Study: Colorado Hospitals Provide Jobs and Economic Stability Despite Tough Times

Date Nov. 9, 2011

GREENWOOD VILLAGE, COLO. (Nov. 9, 2011) — Colorado hospitals directly and indirectly generated a total of $18.8 billion in economic output last year and helped mitigate job losses statewide during the recession that began in 2007, according to an economic impact study released today by the Colorado HospitalAssociation. The report Examining the Impacts of Hospitals on the Colorado Economy, which was conducted by Colorado State University, outlines the employment stability of the healthcare sector in the challengingeconomy, as well as the significant economic impact of Colorado’s hospitals and health systems.
 
While hospitals’ most important role is to improve the health of all Coloradans, they are also committed to
improving the health of local and state economies, the report shows. Major findings include:
  • Colorado hospitals contributed $18.8 billion to the Colorado economy in 2010, which includes calculations for compensation, facilities, spin-off jobs and other parameters. This figure represents 4.2 percent of the state’s entire economic output.
  • Colorado hospitals directly employed 71,700 people in 2010, and spending by both hospitals and their employees helped create another 61,400 Colorado jobs. In rural parts of the state, hospitals are often the largest employers in the communities.
  • During the recent recession (2007-09), Colorado’s hospitals did not experience the job losses that affected many other industries.
  • Average annual employee compensation at Colorado hospitals is fair and competitive.
  • Hospitals provide a variety of stable job opportunities to workers regardless of education level, from physicians with graduate degrees and advanced training to service and maintenance workers with high school diplomas.
“Hospitals are important to all aspects of health, whether we’re referring to the physical health of our family,
friends and neighbors or the economic health of the community,” said Steven J. Summer, president and CEO,
Colorado Hospital Association. “When we think about the community benefits of hospitals, we often think
about the compassionate care hospitals provide to patients regardless of their ability to pay. This study shows
that hospitals’ impact on local communities is so much more than just providing care—it’s also about
providing job growth and economic stability statewide.”
 

About the Colorado Hospital Association
The Colorado Hospital Association (CHA) represents 100 member hospitals and health systems throughout Colorado. CHA partners with its members to work towards health reform and performance improvement, and provides advocacy and representation at the state and federal level. Colorado hospitals and health systems are committed to providing coverage and access to safe, high-quality and affordable health care. In addition, Colorado hospitals have a tremendous impact on the state’s economic stability and growth, contributing to nearly every community across the state with 72,000 employees statewide.

The Colorado Hospital Association (CHA) represents 100 member hospitals and health systems throughout Colorado. CHA partners with its members to work towards health reform and performance improvement, and provides advocacy and representation at the state and federal level. Colorado hospitals and health systems are committed to providing coverage and access to safe, high-quality and affordable health care. In addition, Colorado hospitals have a tremendous impact on the state’s economic stability and growth, contributing to nearly every community across the state with more than 72,000 employees statewide.