Even in light of current economic turmoil, Wisconsin hospitals have remained strong and benefit the state's economy, according to a study released Thursday by UW-Extension and the Wisconsin Hospital Association.
According to professor Andrew Lewis, community development specialist for the Center for Community and Economic Development at UW-Extension, hospital employment will grow substantially over the next 10 years.
He said the Department of Workforce Development projects one of every 12 new jobs will be in hospitals, which is an ""incredible number.""
This is because hospitals generally prosper even during tight economic times, Lewis said. ""[Health care] is certainly a much more recession-proof industry than most,"" Lewis said.
The study shows Wisconsin's 145 hospitals generate $22 billion annually and provide nearly one in 14 jobs in the state.
According to the study, poor economic times do have some negative impacts on hospitals. For example, hospitals face increases in charity care and bad debt during recessions.
However, Lewis said Wisconsin hospitals stimulate the state economy by employing 113,000 people, creating $13 billion in revenue and purchasing $6.5 billion in services.
The study concludes hospitals create a steady source of employment in all economic climates because they provide high pay relative to other service sectors, jobs across many skill levels and jobs that are not easily outsourced abroad.
