MITA reports monetize imaging’s central role in state economies
The medical imaging industry contributes billions of dollars to state economies, according to three new reports published June 12 by the Medical Imaging & Technology Alliance (MITA). The findings, experts say, provide more reason to permanently repeal the medical device tax.
John Dunham & Associates carried out the reports, which analyze the impact medical imaging has on the economies in Washington, Massachusetts and Pennsylvania.
In the latter, according to the report, the medical imaging industry supports more than 36,000 jobs, generating more than $2.5 billion in wages and benefits per year. About $10 billion of the Keystone state’s economic activity can be connected to imaging—1.3% of its annual total state production.
“Pennsylvania elected officials have been leading the way on efforts to suspend the medical device tax, and this report demonstrates why – the medical imaging sector has a profound impact on the Pennsylvania economy,” said Dennis Durmis, Chair of MITA Board of Directors, in a prepared statement. “Medical imaging employs thousands of Pennsylvanians and these annual full-time salaries average nearly $100,000, a significant contribution to the tax base and economic engine in towns and cities across the commonwealth.”
Continued growth, according to Durmis, requires legislators repeal the medical device tax once and for all.
“This report underscores why permanently repealing the medical device tax, once and for all, is crucial for Pennsylvania’s continued economic growth.”
Behind Pennsylvania, medical imaging contributed the second most to Massachusetts’s economy. According to the report, the medical imaging industry total economic activity was about $7 billion, supporting 26,000 jobs and generating about $2.31 billion in wages and benefits each year.
“Massachusetts plays an integral role in our healthcare economy, both at the state and national levels,” said Brian Johnson, president of the Massachusetts Medical Device Industry Council (MassMEDIC), in a prepared statement. “The knowledge explosion fueled by research and development taking place in Massachusetts increases access to innovative technologies for patients across the country and around the world.
And while medical imaging may not contribute as many dollars in Washington compared to Pennsylvania and Massachusetts, the industry still supports more than 12,000 jobs and generates approximately $1.03 billion in total wages and benefits each year in the state.
The imaging sector supports over 5,000 direct full-time positions in Washington, with average wages and benefits of $118,000 per year—much higher than the state’s median household income, according to the report.
Marc Cummings, vice president of public policy & external affairs for Life Science Washington, also took the findings as an opportunity to denounce the medical device tax.
“As the birthplace of ultrasound, medical imaging technology is a cornerstone of Washington’s medical device sector that now includes over 300 medical device companies contributing to Washington’s economy, research & development culture and tax base,” Marc said in a prepared statement. “As Washington companies continue to invest in research and development to advance cutting-edge medical technologies, encouraging our lawmakers to safeguard workers by repealing the medical device tax will become all the more important.”
Matt joined Chicago’s TriMed team in 2018 covering all areas of health imaging after two years reporting on the hospital field. He holds a bachelor’s in English from UIC, and enjoys a good cup of coffee and an interesting documentary.