Economic Impact Study Reports Nashville Health Care As A $68 Billion Industry

Music City remains Health Care City, an industry that has grown by more than $1 billion in just three years.

Nashville health care is now a $67.91 billion industry annually, according to an economic impact study released today by the Nashville Health Care Council in partnership with the Business and Economic Research Center at Middle Tennessee State University.

The report found that the health care industry remains the city’s No. 1 employer, with one in every 12 occupations in Nashville being in the health care sector. In 2022, the health care sector was responsible for nearly 332,305 jobs.

Though the local health care industry has continued an upward trend since the pandemic, workforce shortages have continued to be the industry’s biggest challenge.

Despite these challenges, the Nashville health care industry is outperforming many of its peer cities. According to the study, Nashville ranks second among a group of 13 peercities in terms of the number of major health care companies, their revenues and their employment. Dallas comes in at No. 1.

The number of member companies on the council is up 13.92% since 2019, according to the study. The industry’s growth can also be seen through many recently announced multimillion dollar projects, such as Maury Regional Health’s expansion project and Tennessee Oncology’s new medical office building.

 

Source: Nashville Biz Journal