SGMC Provides Economic Stability & Growth
Thursday, May 9th, 2019
In 2017, South Georgia Medical Center in Valdosta generated $790,166,384 in revenue for the local and state economy, according to a recently-released report by the Georgia Hospital Association, the state’s largest hospital trade association. SGMC’s affiliate campuses, Berrien and Lanier, also had significant economic impact adding another $38,618,876 for a system-wide economic impact of $828,785,260.
SGMC had direct expenditures of more than $337,865,645 in 2017 (the latest year for which data is available.) As a 285-bed acute care hospital serving nine neighboring counties, the hospital had more than 300,000 patient interactions.
In helping to fuel the state and regional economy:
SGMC spent more than $143,904,408 in employee wages and benefits in 2018,
The hospital generated more than 2,058 full-time jobs in the community and led to the contribution of almost $283 million in household income for area residents, and
Provided $27,461,356 million in “actual costs” for charity and uncompensated care in 2018.
Hospital Compare, the official US Government site for Medicare, recently awarded SGMC four-out-of-five stars for hospital quality. SGMC is the only 4-star ranked facility of its size in South Georgia. The website provides comparative information on how well hospitals provide recommended standards of care for common conditions treated.
“Healthcare quality includes customer service, regulatory compliance, community outreach and care in addition to medical and ethical best practices—it is at the root of all we do,” said CEO Bill Forbes. “Not a day goes by that we are not trying to enhance healthcare delivery, optimize value and improve patient outcomes. We take our role in serving this community very seriously and we are working to be the very best!”
GHA compiles its annual Economic Impact Report to provide a better view of how Georgia hospitals serve as vital economic engines for local and state economies. Figures provided by the Georgia Department of Community Health are processed through economic multipliers developed by the United States Department of Commerce's Bureau of Economic Analysis to give a more accurate portrayal of how jobs and revenue generated by hospitals and health systems in Georgia actually impact their local economies.