Hospitals contribute to economy and community
November 6, 2008In today’s tough economic times there are two consistent contributors to our local economy and community: Stanford Hospital & Clinics and Lucile Packard Children’s Hospital.
The recently-released Fall 2008 Community Benefits Summary explains these contributions.
The hospitals’ economic impact was $444 million in both San Mateo and Santa Clara counties last year. In addition, both hospitals contribute financially to other nonprofits serving the local community. Instead of requiring taxpayer money, each institution is privately funded through hospital operations, philanthropy and debt financing. Packard Children’s, along with other hospitals, receives money from the statewide Children’s Hospital Bond Act of 2004.
Partnerships and programs in the community, emphasizing public service, are primarily aimed to provide care to those who need it regardless of economic status. Programs include Stanford Health Library, Packard Children’s partnership with the Ravenswood Family Health Center in East Palo Alto, and the School of Medicine and Stanford Hospital & Clinics’ involvement in the Arbor Free Clinic in Menlo Park.
These contributions demonstrate the importance both hospitals place on making a difference in the community. Read more about the Benefits Summary.