Hospitals deliver $189B to the state economy, jobs for Floridians

Florida hospitals are doing more than delivering care — they are strengthening the state’s economy.

Florida’s hospitals contributed $198 billion to the state’s economy in 2023, according to a new report released by the Florida Hospital Association (FHA). This demonstrates the significant contributions Florida’s 337 hospitals and health systems make to strengthen their communities and the state’s economy.

Hospitals across the state employed 343,952 full-time employees and provided $34.5 billion in wages, salaries and benefits to support Florida families the same year, according to the report.

In a statement, the FHA pointed to a Wall Street Journal article titled “Healthcare Is Propping Up the Job Market” as evidence that Florida is part of a broader trend in the health care sector’s growth. The article notes that employment in health care and social assistance has increased by 12.5% over the last three years, surpassing other industries, with much of the momentum driven by the country’s aging population and rising demand for care.

“Hospitals are the heart of medical care in our communities and are supporting health care systems to effectively meet growing demand and deliver innovative, world-class care,” said Mary C. Mayhew, President and CEO of FHA. “The latest economic impact data underscores their contributions — not only of the life-saving care they provide, but also as powerful economic engines driving Florida’s future.”

The new economic impact report, “Economic Contributions of Florida Hospitals and Affiliated Healthcare Businesses in 2023,” details how Florida’s hospitals have become a key pillar of statewide and local economies.

It finds that from 2021 to 2023, Florida hospitals increased employment by 11% and boosted their overall contribution to the state’s economy by 6.8%. The report also notes that hospitals act as major purchasers of goods and services, further stimulating economic activity in communities across the Sunshine State.

“As Florida grows, so does the responsibility we share to care for the health and well-being of our communities through clinically excellent care,” said Randy Haffner, Chair of the Florida Hospital Association Board of Trustees and Group President and CEO of AdventHealth Florida and Clinical.

“This report is a reminder that hospitals are more than places of healing. They are part of the fabric of our communities, helping people live healthier lives, supporting families, creating jobs and strengthening Florida’s economy in meaningful ways.”

Mayhew said the financial strength of hospitals and their workforce is central to preserving access to care, particularly as the state’s population continues to grow and age. “Floridians deserve the confidence of knowing they can access high-quality health care when and where they need it most, and the strength of our hospitals and workforce makes that possible,” she said.

“The latest economic impact numbers reaffirm the integral role Florida’s hospital industry plays in bolstering our state’s economy, creating and sustaining jobs that support families, and ensuring communities can continue to have access to vital health care services.”