Wayne Memorial Hospital Generates $184,250,438 for Local and State Economy

In 2019, Wayne Memorial Hospital in Jesup generated $184,250,438 in revenue for the local and state economy, according to a recently released report by the Georgia Hospital Association, the state’s largest hospital trade association. Wayne Memorial had direct expenditures of more than $80,476,278 in 2019. The total economic impact of those expenditures was $184,250,438 when combined with an economic multiplier developed by the United States Department of Commerce’s Bureau of Economic Analysis. This output multiplier considers the “ripple” effect of direct hospital expenditures on other sectors of the economy, such as medical supplies, durable medical equipment and pharmaceuticals. Economic multipliers are used to model the resulting impact of a change in one industry on the “circular flow” of spending within an economy as a whole.
During the same time period, Wayne Memorial provided approximately $9,005,169 in uncompensated care while sustaining more than 532 full-time jobs throughout Jesup and Georgia. When a US Department of Commerce multiplier is applied to the jobs number, it is revealed that an additional 1,357 jobs are supported across the state due to the economic activity of Wayne Memorial. The hospital spent $28,562,908 in salaries and benefits, resulting in total household earnings in the community of $57,726,904.
“Wayne Memorial is dedicated to providing timely, quality care to our patients and community,” said Hospital CEO Joe Ierardi.”We are open 24 hours a day, seven days a week and treat anyone who comes through our doors. We are proud to partner with Jesup and surrounding cities to offer this care and ensure our communities thrive in terms of wellness as well as economically.”

The hospital is a major component of the area’s economic strength. However, there are factors that impact the hospital’s ability to deliver timely and efficient care. One is Georgia’s high uninsured population, which as 13.4% in 2019 and the 11th highest in the nation. The same year, 38% of all hospitals in Georgia operated with negative margins.

“We are dedicated to ensuring our residents receive state-of-the- art health care services,” Ierardi said. “We provide quality care to every patient, regardless of ability to pay. This environment often puts financial stress on our state’s hospitals.”

Hospitals can cope with negative operating margins in the short term, but hospitals that are unable to realize and maintain positive operating margins will likely face closure sooner or later, which can be detrimental to the health and wellness of their communities.

According to Ierardi, every community needs nearby access to a strong, vibrant health care system that will not only meet the health care needs of its residents, but also attract other industries and businesses to the area.

“Preserving access to health care is extremely important and we are the primary guardian of health in our community,” said Ierardi. “A healthy community depends on the strength of its hospital, both financially and in treating patients.”