Conference of Boston Teaching Hospitals Releases Impact Report
Leading the Way - the Impact of Greater Boston's Teaching Hospitals
BOSTON – A report released by the Conference of Boston Teaching Hospitals (COBTH) - Leading the Way - the Impact of Greater Boston's Teaching Hospitals, highlights the impact member hospitals have on the Commonwealth and region and the critical role they play in the healthcare system. Collectively, greater Boston’s teaching hospitals have direct economic impact of over $12 billion in Massachusetts and a combined direct and indirect impact of more than $28b.
The report found that COBTH member hospitals:
- provide over 75,000 jobs for Massachusetts residents
- contribute $12.43b in annual direct economic impact for Massachusetts,
- attract more than $1.2b in National Institutes of Health (NIH), National Science Foundation (NSF) and Veterans Administration (VA) research funding, and
- provide more than $186m in community benefit program funding and more than $139m in charity care
“The teaching hospitals in greater Boston are national leaders in providing quality patient care, expert medical training and pioneering new ways to deliver care,“ said John Fernandez, COBTH chair and President and Chief Executive Office of Massachusetts Eye and Ear. “As state and national leaders work to develop new ways of paying for and delivering healthcare, the role of teaching hospitals has never been more important and care must be taken to ensure that their ability to deliver on their mission is not compromised, but enhanced."
In 2011 COBTH hospitals received more than $1.2 billion in NIH, NSF, and VA research funding which supported nearly 20,000 resulting in an economic impact of more than $2 billion. “The high concentration of research funding that Massachusetts academic medical centers attract and the research they conduct is key to the entire life sciences industry here in the Commonwealth,” said Bob Coughlin of the Massachusetts Biotechnology Council. “That funding and the work it supports attracts new life science businesses and jobs to the state and was a factor in being able to bring the International BIO Convention back to Boston last month."
Despite greater Boston teaching hospitals’ world-renowned reputations, their roots are grounded in service to local communities in and around Boston. COBTH hospitals partner with more than 300 local agencies to help meet the unmet social and health care needs of vulnerable populations and provided more than $186 million in community benefit funding in FY2011.
“Even during these difficult economic times, greater Boston’s teaching hospitals have remained the driving force in the regional economy, but we face uncertain times with significant cuts to medical education and research funding we must be careful to ensure that the many critical services provided by out hospitals are preserved and strengthen and help lead the transformation of our healthcare system,” said John Erwin, COBTH's Executive Director.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
About COBTH: The Conference of Boston Teaching Hospitals exists to maximize the Boston area teaching hospitals' visibility on the issues that are fundamental to their unique missions of teaching and research. COBTH educates opinion leaders at all levels about the contributions of its members to the area's health and economy. Members include Beth Israel Deaconess Medical Center, Boston Children’s Hospital, Boston Medical Center, Brigham and Women’s Hospital, Cambridge Health Alliance, Carney Hospital, Dana-Farber Cancer Institute, Faulkner Hospital, Lahey Clinic Medical Center, Massachusetts Eye and Ear, Massachusetts General Hospital, St. Elizabeth Medical Center, Tufts Medical Center, VA Boston Healthcare System.