| Oct. 11
In my first column I said I would discuss the economic impact a hospital has on its community. The financial influence of a hospital is rarely thought of when talking about it and the people who work there.
LMC is one of the top employers in Logan County. With close to 250 people who make up 200 full time positions, our average annual payroll including benefits exceeds $14 million. These people purchase goods and services from the community, such as cars, groceries, professional and banking services, which generates income and jobs for other local businesses.
LMC also supports other local business through what’s called a multiplier effect. In other words, we purchase goods and services, such as office supplies, food, fuel, hardware and other day-to-day needs from businesses in our community. These purchases create revenues that indirectly create jobs and income for the local economy such as Ace Hardware, Homeland, Wal-Mart, local restaurants and other tax paying businesses.
LMC recently received a grant to perform an Economic Impact Study to define exactly how much we contribute to the local economy. The total impact of the health sector on our local economy was $38 million in 2008. The bottom line is your hospital contributes greatly to the medical health of the community, but it is also an engine that drives continued economic development. (If you would like to read the entire study, you can access it at www.LoganMedicalCenter.com – under community.)
We are an anchor for other health care jobs, such as physicians, pharmacists and medical supply services that, in the absence of the hospital, might not remain available. Your hospital offers a stable source of employment, even in times of economic stress.
LMC also provides care through several mechanisms to people who cannot afford to pay for care or do not have insurance. Our mission compels us to care for those less fortunate in our community. We do this through charity care, discounts and uncollectable account services.
In 2008, LMC provided $2.5 million in various forms of financial assistance to the people in our area out of total revenues of nearly $40 million. Like many community hospitals, LMC receives tax support. Last year we received slightly less than $2 million in sales tax.
In addition to providing traditional health care services and economic support to our community, LMC offers an array of unfunded programs to help meet our community’s broader health and social needs. Every day, we reach beyond our four walls and offer prevention, wellness and awareness.
Finally, when people look for a place to live, health care is one of the most important services they look for. As parents, my wife and I chose Guthrie. We live here, we work here, we shop here and our son attends the local public schools.
LMC’s continued success depends on your confidence in our growing ability to provide for your medical needs. Next time, I will discuss our medical staff and the broad array of other professionals who provide that medical care in a way you may not know exists right here in Guthrie and Logan County. Today’s LMC is no longer yesterday’s Logan County hospital. |