The U.S. Health Care industry is currently in a period of transition. Cambia Grove and its partner organizations see this evolution of the industry as an opportunity for Washington state and the United States to develop new health technologies and improve clinical care so that we may achieve better care and better health at lower costs. Washington state is well-positioned to help drive this transformation by bringing together the core health care industry and health innovators.
The release of the 2015 Report on Health Care Innovation in Washington State begins a discussion about health care innovation in Washington by identifying where health care innovation occurs and measuring how innovators contribute to the regional economy. From here, Cambia Grove and partner organizations can convene key stakeholders to strengthen relationships and create new ones so that health care innovation can be supported and continue to grow.
In September 2015 the Cambia Grove released a graphic depicting Washington state's health IT landscape. You can find more context about the work that went into that graphic here.
What Is the Health Care Innovation Sub-Sector (HCIS)?
What Is the Impact of the HCIS on Washington State?
Health care innovation work drives growth for Washington state’s economy and directly accounts for:
- $6.8 billion dollars in goods and services (output) generated
- $2 billion dollars total income for Washington state
- 22,500 health care innovation jobs across urban and rural areas
- $1.6 billion in funding from Angels, venture capitalists, strategic investors and more
In addition, when accounting for direct, indirect and induced contributions, the HCIS generates $12 billion in output and 54,700 jobs.
The direct contributions of the HCIS represent 6 percent of all heath care jobs, 9 percent of all health care income, and 13 percent of the total health care output:
Health Care Innovation Is A Sound Investment for Washington
Workers in the HCIS are some of the most efficient and productive in Washington:
While 90 percent of HCIS jobs are in the Seattle MSA, health care innovation still accounts for jobs in 25 of Washington's 39 counties: