Economic impact of clinical labs in Maine: $490M and 3,600 jobs
Courtesy / GenoTyping Center of America
A new report says that clinical labs are a leading economic contributor in Maine. GenoTyping Center of America, offering genetic testing services, is one such lab. Its clinical labs are based in Waterville and its business office is located in Ellsworth.
Clinical labs are one of Maine’ leading economic contributors, according to a new report by the Washington, D.C., nonprofit American Clinical Laboratory Association.
Clinical laboratories account for a small fraction of U.S. health care costs yet deliver essential tools for clinical decision-making, according to a May 28 news release.
From routine blood tests to groundbreaking genetic and molecular tests, labs assist health care providers and patients in monitoring, diagnosing and treating disease and also help drive savings across the health system.
In Maine, they generate a total economic impact of more than $490 million and support 3,586 jobs in the state.
“For the more than 266,000 seniors that call Maine home, access to clinical lab services is crucial for identifying, treating and monitoring chronic disease,” said Julie Khani, president of ACLA.
Key findings
Here are some highlights of the report:
- Clinical laboratories pay $101.66 million in employee wages each year in Maine. This equals an average wage of $61,500, which is about 66% higher than the national median wage.
- In Maine, 211 clinical laboratories have a direct economic impact of $201.38 million and a total economic impact of $491.93 million when supplier and induced effects are included.
- Clinical laboratories provide more than 1,653 high-quality jobs in Maine, and are responsible for another 1,933 related jobs.
Nationally, the industry contributes over $106 billion in output or just under half a percent of gross domestic product. Nationwide, clinical labs support over 688,000 jobs and more than $44 billion in wages in 2019. They promote economic growth through spending on medical equipment, personnel services, housing and educational services.
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