NEWPORT – Newport Hospital generates more than $54 million in economic impact in the region every year, according to a study completed by a group of Salve Regina University students.
A group of 15 students from Sam Sacco’s “Introduction to Economics” class presented their findings to hospital leaders on Dec. 15 at Salve Regina University. The study, commissioned by Newport Hospital CEO Crista Durand, examined the direct and indirect economic impacts of Newport Hospital’s health care services, measuring the economic, public health, community and civic contributions of the hospital on the city and the broader Aquidneck Island.
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“We knew the economic value would be in the multimillions,” Durand said. “But $55 million … it was really eye-opening to see the impact that we have.”
Newport Hospital’s leadership team, which consists of Durand, Chief Medical Officer Dr. Jeffrey Gaines and Vice President of Patient Care/Chief Nursing Officer Orla Brandos, joined the class as they shared the results of their semester-long study.
“For us to be able to take it back to our team and to be able to show them, to give them a sense of the magnitude of the impact that this building and the work that they do has on the community will be a really powerful message for us to share,” Gaines said.
Based on their research, students projected that the hospital generated 302 jobs and $54.7 million in economic impact for fiscal year 2022.
Newport Hospital, which celebrates its 150th anniversary next year, is part of the Lifespan Corp. health system and offers services that includes an emergency department, diagnostic and surgical services, the Vanderbilt Rehabilitation Center and the Noreen Stonor Drexel Birthing Center.
Claudia Chiappa is a PBN staff writer. You may contact her at Chiappa@PBN.com.
