Office-based physicians contribute more to Connecticut’s economy than both hospitals and the legal profession, according to a study released by the American Medical Association.
Office-based doctors support almost 52,000 jobs in the state and contribute $14 billion to its economic activity, the report found. That’s slightly more than the $13.6 billion contributed by hospitals and twice as much as the $6.6 billion from the legal profession, it said.
The majority of the state’s physician practices are office-based, the report said. Those doctors support $10.6 billion in wages and benefits, and generate $653.6 million in taxes, it said noting that makes up over 5 percent of Connecticut’s tax revenue.
But those jobs and economic activity is in jeopardy due to the state’s practice climate, according to Connecticut State Medical Association President David S. Katz.
“Every time a Connecticut physician leaves private practice because of the pressures caused by declining Medicare and Medicaid reimbursements, medical liability or the administrative hassles dealing with insurance companies, our state loses six jobs,” he said in a prepared statement. “Connecticut physician practices are small businesses that help drive the state economy. Our lawmakers need to understand that unless they do something to improve the practice climate for Connecticut physicians, we will see more job losses and more tax revenue lost while patients see reduced access to medical care they need.”