Report shows hospital's financial impact

2012-11-22T11:00:00Z Report shows hospital's financial impactBy Times Staff
November 22, 2012 11:00 am  • 

MUNSTER | A recent report issued by Franciscan Physicians Hospital outlines outlines its impact on the economy and community.

The hospital, 701 Superior Ave., is open around the clock, 365 days a year. In 2011, there were 956 inpatient visits and 11,590 outpatient visits and procedures.

The hospital is a major source of employment and purchaser of goods and services, the report says. With a payroll of about $20 million, along with more than $9 million in supply purchases and more than $12.5 million in capital spending, the total impact is nearly $42 million, according to the report.

The hospital employs 177 health care professionals. Its payroll expenditures serve as an economic stimulus, creating and supporting jobs throughout the local and state economies, the report states.

"Dollars earned by Franciscan Physicians Hospital employees and spent on groceries, clothing, mortgage payments, rent, etc., generate approximately $12,753,000 in economic activity and create an additional 90 jobs for the local economy," it states. 

Franciscan Physicians Hospital spends about $27 million per year on goods and services, such as supplies and electricity. That money flows to vendors and businesses and ripples through the economy, generating an estimated $47 million, according to the report.

Last year, the hospital spent more than $12.5 million on buildings and equipment. After analyzing community needs, hospital officials decided to break ground on facility additions in the coming year.

"Construction of an emergency department, bed tower, administration department and chapel will assist community members in receiving rapid care when it’s needed, while providing the support necessary to lift spirits," the report states.

The hospital also reaches out to the community. It provides health fairs and free cardiovascular screenings.

When the East Chicago-based Carmelite Home suffered from state funding cuts, the hospital ran a volunteer car wash in its parking lot, raising $1,000 for the home. 

Food drives, book drives and other efforts are regularly made to ensure the hospital and its employees are doing their part to live out the mission of the Franciscan Alliance: Continuing Christ’s Ministry in our Franciscan Tradition, according to the report.

Copyright 2014 All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Follow The Times

In This Issue

Professionals on the Move Banner
Get weekly ads via e-mail



Should the Indiana attorney general's office compel all Lake County municipalities to merge E-911 dispatch services?

View Results