The CareSource mission is to make a lasting difference in our members’ lives by improving their health and well-being. When we serve that mission faithfully, our success as an organization strengthens the communities around us, too. Nowhere is that more obvious than in our home state of Ohio. In fact, a 2020 study by the Center for Economic Development in Cleveland State University’s Maxine Goodman Levin College of Urban Affairs found that CareSource has a total economic output of nearly $1 billion in Ohio.
The economic impact is presented in terms of three components: direct, indirect and induced impacts. Direct effect refers to the initial value of goods and services used for operations by CareSource, e.g., operating expenditures, wages and benefits. Indirect effect measures the value of business-to-business purchases taking place in Ohio. Induced effect measures the effects stemming from household spending of labor income in Ohio. Remarkably in 2019, CareSource generated a total output of nearly $1 billion.
The fiscal impact of CareSource was based upon the federal, state and local tax revenues from CareSource collected in the state of Ohio that represented additional economic impact created by the organization.
While CareSource continues to strive for best-in-class operations, lower costs for state partners and improved quality and outcomes for our members, we believe the numbers in Ohio also send an important message to the communities in which we live and work. We are devoted to creating a healthy economy, too.