What is the value of a local hospital?
Your Local Hospital’s Economic Impact and Community Benefit
The Healthcare Association of New York State (HANYS) recently released reports that represent the economic and community impact of hospitals – a general demonstration of value. The data compiled by this statewide advocacy organization, combined with what we know of Bertrand Chaffee Hospital’s financial performance over the past six years, provides a perspective of your hospital’s value.
According to the HANYS study, BCH accounts for $47 million in economic activity through jobs and the purchasing of goods and services. That’s a significant increase from 2010, when the estimate was $34.1 million, a number that was relatively consistent at $35.7 million in 2013.
BCH Improves the Economy & Community*
Economic Activity: $47 million
Tax Dollars Generated: $7 million
Community Benefits & Investments: $1.1 million
Jobs Generated: 600
BCH has defied the trend of struggling rural healthcare facilities over the past several years. Under the leadership of our board of directors, BCH has taken strategic steps to invest in high-quality, local health services. We established a primary care center, which sees thousands of patients each month. We developed a hospitalist program to enhance our inpatient acute care. We added standard-of-care imaging technologies and recruited specialists in cardiology and surgery. Each of these initiatives has not only created jobs but has also contributed to improved healthcare access for our community.
So how are these statistics reflected in BCH’s financial performance? Business First of Buffalo recently published hospital revenue growth for Western New York hospitals from 2011-15. BCH topped its list of 21 area hospitals with 36% growth in revenue.
According to HANYS, BCH generates about seven million tax dollars annually. This makes our facility’s continued requests to New York State Department of Health for grant funding even more relevant. Our most recent application would be for about $2.25 million a year over five years – $11.3 million total.
BCH Provides Quality Healthcare*
Outpatients Received Care: 69,000
People Treated in the Emergency Room: 9,300
People Admitted to BCH: 1,000
With our recent purchase of the 210 East Main Street property (the former Concord Medical Group building), we have fulfilled an important element in our grant application to acquire space for our future transformation. With a favorable outcome from NYS DOH, your tax dollars will be returned to your community as reinvestment in Bertrand Chaffee Hospital’s physical plant and clinical equipment.
When it comes to efficiency, BCH demonstrates the lowest Medicare spending per beneficiary of any hospital in Western New York. BCH is demonstrating its commitment to the NYSDOH “Triple Aim” initiative: improving population health through increasing access, enhancing quality and reducing costs.
Neither statistics nor financial performance fully represent the value of your local hospital. How do you put a number on the peace of mind a family has when an emergency department is available in their community? How do you quantify the benefit of access to essential outpatient services, without driving up to an hour away? How do you count the value of local jobs and careers in our rural part of Western New York?
Healthcare Association of New York State (HANYS) Economic and Community Impact Statements
*Information compiled by the Healthcare Association of New York State (HANYS) from 2015 data.
Many rural healthcare facilities are seen to be at risk of closure or reduction of services. Hospitals like BCH have learned through experience that sound, steady investment in response to community needs preserves health services and protects jobs. We look forward to sharing news of our continued pursuit of state support and our progress with our neighbors, patients and employees.
This information has been shared with state government officials and healthcare facilities. We share it now with you to emphasize the importance of a facility like Bertrand Chaffee Hospital.The people of Bertrand Chaffee Hospital and the Jennie B. Richmond Nursing Home appreciate the community support that we see every day. Please send any questions about this information to email@example.com or call (716) 592-2871 ext. 1485.