The Wright Center has proven itself to be a successful vehicle for responsibly stewarding local and federal funds into our regional economy through workforce production, job opportunities and employee and physician retention. The organization’s finances are organized through The Wright Center for Graduate Medical Education and The Wright Center Medical Group. The Wright Center for Graduate Medical Education received revenues from federal grants, hospital affiliations (residency and fellowship agreements) and reimbursements, IRB and research fees, interest and dividends. The Wright Center Medical Group received supplies and revenues from patient services, grant support, 340B drug pricing and various contributions. At the close of FY2016-17, operations reflected net assets of $11.6M.
The Wright Center’s impact on the economy in northeast Pennsylvania goes beyond payroll and purchasing; it also includes direct and indirect effects. When The Wright Center purchases goods from local suppliers and bolsters partnerships with regional organizations for services like consulting and construction, those businesses, in turn, buy some of what they need from other local companies.
Similarly, The Wright Center’s employees (and the employees of partners and suppliers) spend part of their take-home pay locally for housing, utilities, food, child care, entertainment and other routine household needs. In 2017, $39.9M in value and $69.2M in monetary output was infused into northeast Pennsylvania through spending, housing, utilities, etc., according to calculations by The Institute for Public Policy and Economic Development, Wilkes-Barre, PA.
All Wright Center team members also give of their time and talents, participating in at least two community events per year, including charity 5Ks, food pantry drives as well as educational work at senior centers, with a variety of non-profit organizations. The Wright Center also engages an active Auxiliary membership to lead special outreaches, make personal connections with patients and ease hardships. Our Auxiliary holds annual Purse Bingo and Trunk N Treat events, as well as hosts monthly food pantries and distributes gas cards to patients in need throughout the year.
The Wright Center is governed by engaged, community board members, including patients, representatives from educational institutions and community partners, local business professionals and medical providers to ensure effective oversight to uphold the public trust. Our board members are focused on initiatives to improve communication between patients, providers and learners; develop caring physicians who connect with and plant roots within the communities they serve; ensure non-discriminatory, comprehensive healthcare services are accessible to all, regardless of ability to pay; and proactively improve systems in pursuit of the Quadruple Aim— Outcomes, Access, Affordability and Joy.