Mather Hospital had an economic impact on the local economy of $712 million with 4,000 jobs created during the first year of the COVID-19 pandemic, according to a new Healthcare Association of New York State (HANYS) economic impact report.
The figures, which draw on 2020 data, looked at the economic impact of hospitals across the state. “The economic activity generated by hospitals through jobs and the purchase of goods and services makes up 10.6% of the state’s entire gross domestic product,” according to the HANYS report. “New York hospitals generate significant tax dollars and stimulate the economies of local communities and the whole state.”
“Even more important than the substantial economic impact of the hospital on the communities we serve is the impact we have had on the lives and health of our patients and staff,” said Mather Hospital Executive Director Kevin McGeachy. “This has been especially true during the COVID-19 pandemic, which placed an extraordinary burden on our entire staff to maintain the best possible healthcare for our patients while fighting a virus that constantly mutated and challenged us. As the report states, our top investment was in our own staff, to provide them with the resources needed to do their jobs and the support to maintain their mental and physical health.”
“Patient volume patterns were severely impacted by the COVID-19 pandemic in 2020,” the report stated. “Even with surges of COVID-19 patients across the state, inpatient volumes were down 11% on average from 2019 to 2020; emergency room visits dropped by 20%, with overall outpatient volumes dropping by 12%. While each hospital experience during 2020 was different, these downward volume trends show just part of the pandemic’s impact on healthcare utilization and hospital financials statewide.”
Mather Hospital had $214 million in payroll expenditures in 2020, generated $116 million in tax dollars and contributed $63 million in community benefits and investment, according to the HANYS report.
During that same period, the hospital served 154,000 patients, including 30,000 in the Emergency Department and 9,200 admitted to the hospital. The report found that 71 percent of inpatient discharges and 52 percent of outpatient visits at Mather were covered by Medicare and Medicaid.