SC Hospitals are Economic Engines, Says New Study
As if saving lives and delivering babies weren’t impressive enough, South Carolina hospitals generate more than $36.75 billion annually in economic impact, making them one of the state’s largest drivers of prosperity and job growth.
A new report from the South Carolina Hospital Association (SCHA) shows that hospitals account for more than 203,000 state jobs with a total of $13.2 billion in labor income. That number includes jobs created directly by hospitals, indirectly by companies that do business with or because of hospitals, and the trickle-down impact of spending by households of those jobholders. There’s almost a one-to-one multiplier effect, with every job at a hospital accounting for another in the local economy.
Additionally, the broader economic sector of healthcare and social assistance is the state’s leading employer, accounting for 13.2 percent of the workforce. As South Carolina’s population continues to boom with new people relocating from other states, job growth in healthcare and social assistance is projected to increase by 17.2% over the next 10 years, more than any other industry.
SCHA created the data-based report to document the impact of hospitals on South Carolina’s health, economy, and quality of life, says President and CEO Thornton Kirby. “The value of a life saved, a baby delivered, or quality of life restored cannot be quantified. But there are numbers that demonstrate the wide-reaching impact of hospitals on their communities and the state of South Carolina, and they are impressive,” Kirby said.
The report also delves into the human impact of hospitals, which annually includes:
- nearly 1.9 million individual patients cared for;
- more than 25.5 million medical procedures performed;
- more than 2.3 million emergency department visits; and
- more than $3.2 billion in uncompensated and charity care provided.
“Equally important are metrics that speak to healthcare quality. In 2024 state rankings by US News & World Report, South Carolina ranks 10th in healthcare quality and 13th in hospital quality,” Kirby said. South Carolina also ranks 5th nationally in the percentage of hospitals earning an A grade on safety, according to the Leapfrog Group, a hospital transparency organization.
The report is based on two studies — an economic impact analysis and a labor market assessment — conducted for SCHA by Hanover Research, a national research solutions firm. Additional data was collected from the state’s Office of Revenue and Fiscal Affairs, the Centers for Medicare and Medicaid Services, the U.S. Census Bureau, and SCHA quality and outreach programs.