UNMC and its primary clinical partner, Nebraska Medicine, have made headlines in the global fight against Ebola, playing an integral role in improving guidelines for disease management and care.
On the home front, the partners also play an essential role in the state's economic success.
A study released in February shows that UNMC and Nebraska Medicine have a combined $4.2 billion annual impact on Nebraska's economy.
The study, completed by nationally recognized consulting firm Tripp Umbach, shows that the Med Center not only contributes to the state's well-being in health care, but also is a major player in driving its economy, said UNMC Chancellor Jeffrey P. Gold, M.D.
"Our work impacts Nebraskans every day. Although our primary goal is to improve the lives of Nebraskans through clinical care, education, research and community outreach, we're proud to be such a strong contributor to the state's economy. We take that responsibility seriously," said Dr. Gold, who also serves as chairman of Nebraska Medicine's advisory board.
Tripp Umbach studied fiscal year 2013-2014, and its study includes UNMC, Nebraska Medicine, and the work that those organizations' employees do for affiliates such as the VA Medical Center and Children's Hospital & Medical Center. Since 1995, Tripp Umbach has completed economic impact studies of all 130 medical schools and 400 teaching hospitals for the Association of American Medical Colleges (AAMC).
"It's clear that UNMC and Nebraska Medicine have a significant impact on the economic health and well-being of our state. The education, research and patient care happening here attracts talent to Nebraska, produces a skilled workforce, leads to new products and innovations, and improves the quality of life for people around the state and the world," said University of Nebraska Interim President James Linder, M.D, who stepped down in April.
Of the $4.2 billion impact, $1.8 billion was through direct expenditures for goods and services by UNMC, employees, students, out-of-state patients and visitors. The remaining $2.4 billion came in the form of indirect spending within Nebraska, meaning the businesses and individuals who received direct payments from the medical center and its affiliates then respent their money within the state.
Dr. Gold noted that a key economic benefit of the Med Center is attracting fresh dollars to the state's economy and keeping dollars from leaking out of the state to other academic health centers.
For instance, the Tripp Umbach report concluded that two clinical service lines – cancer and transplantation – have an economic impact of $377.8 million and $139.1 million, respectively, on the state's economy, at a total of $516.9 million in direct and indirect spending.
"Programs such as these serve a double benefit by keeping money in the state's economy and attracting dollars to the Nebraska economy from other regions of the country and internationally," Dr. Gold said.
Other findings of the report included:
· UNMC and Nebraska Medicine generate $99.1 million per year in state and local taxes (i.e. dividends, sales, fines/fees, property, real estate, motor vehicle, licensing and other taxes).
· UNMC and Nebraska Medicine create and support more than 28,927 Nebraska jobs in fiscal year 2013-2014.
· UNMC graduates working throughout Nebraska generate an economic impact of $3.9 billion. Based on profession, physicians have a $2.7 billion impact or $1.3 million per graduate, followed by dentists ($534 million total/ $750,000 per grad), pharmacists ($339.9 million/$300,000 per grad), advanced practice registered nurses ($147 million/$250,000 per grad); physician assistants ($134.7 million/$250,000 per grad) and physical therapists ($111.4 million/$200,000 per grad).
The study also showed that about $1 in every $25 in the Nebraska economy is generated by UNMC/Nebraska Medicine, and the Med Center generates one in every 35 jobs in the state.
"It's both humbling and gratifying to know how connected and significant our work is in keeping a strong Nebraska economy," Dr. Gold said.
Nearly half of Nebraska's physicians, dental professionals, bachelor-prepared nurses and allied health professionals have graduated from UNMC.
- Read more about UNMC's economic impact.