According to a new report from the American Medical Association (AMA), the rise in spending on physician services has had a positive ripple effect on the economy. The report noted that every dollar applied to physician services supports an additional $1.62 in other business activity. According to the report, each physician supported an average of $2.2 million in economic output and contributed to a total of $1.6 trillion in economic output nationwide in 2012. This resulted in each physician supporting about 14 jobs in his or her state; nationally, doctors’ offices generate 9.97 million jobs. The AMA stresses the importance of the small independent physician practice model and the positive impact on on our overall economy.
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