Newport Hospital generates $54 million in annual economic impact, study finds

Newport Hospital’s services creates direct and indirect economic impacts totaling more than $54 million in the region annually, according to a study completed by business students at Salve Regina in a ECN-307 Introduction to Econometrics class.

by Ryan Belmore December 20, 2022December 20, 2022

Newport Hospital generates $54 million in annual economic impact in the region, according to a study conducted by business students at Salve Regina University in an Introduction to Econometrics class.

The study, which was commissioned by Crista Durand, the CEO of Newport Hospital, was recently presented to the hospital’s leadership team in a presentation at DiStefano Lecture Hall.

The findings showed that the hospital creates a total of 302 jobs, with a payroll of $37 million, vendor payments of $14.7 million, and capital expenditures of $2.5 million. The hospital also makes PILOT payments of $110,282 to the city and schools and provides $6.5 million in charity care and community benefits.

Newport Hospital, which was founded and funded by local residents in 1873, has grown into a state-of-the-art facility with 129 licensed beds, 863 employees, and 517 affiliated physicians. It offers a wide range of inpatient and outpatient services, including an emergency department, diagnostic and surgical services, a rehabilitation center, and a birthing center.