A healing presence for R.I.

 / Source: Hospital Association of Rhode Island
/ Source: Hospital Association of Rhode Island

A key component of the “eds and meds” piece of the Rhode Island economy are the state’s hospitals. And according to the Hospital Association of Rhode Island, in 2013 they accounted for roughly 14 percent of the Ocean State’s nearly $50 billion in output. In raw impact, the sector grew roughly 17 percent from 2007 through 2013.

That’s not to say that the health care providers have enjoyed a smooth ride. After reaching peak health care professional employment of 21,400 in 2010, the hospitals have seen their job rolls fall to 19,000 in 2013, no doubt in part because of hospital mergers that took place in that time frame.

Capital spending on their facilities has oscillated from $90 million to $200 million from 2007 to 2013, as a stagnant overall population and competition from independent health service providers syphon off patients.

While it is clear that future output will continue to grow, it seems that is not a guarantee in the short run for employment and capital spending. •

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