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$55.4B

January 16, 2018

New Jersey’s doctors help keep residents in good health. They don’t do a bad job with the state’s economy either, generating $55.4 billion in economic activity, according to a new report, “The Economic Impact of Physicians in New Jersey,” released by the Medical Society of New Jersey (MSNJ) and the American Medical Association (AMA). That dollar figure translates into 9.8 percent of the state’s economy, with each provider creating $2.4 million on average.

The report also indicates that the state’s 22,697 active physicians support 281,923 jobs; contribute $30.9 billion in total wages and benefits paid to workers (each doctor is responsible for an average of $1.4 million in wages and benefits); and generate $2.7 billion in state and local tax revenue for their communities (which translates into $116,922 for each physician on average).

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