The Earnings & Savings From Hiring EU Medical Professionals: Data reveals how much the UK has earned in income tax from EU-nationals working in the medical industry over the past 5 years, as well as the money saved on education. Read below to learn about the benefits of hiring medical professionals from the EU in Medbelle’s study.
Hiring medical professionals from the EU has earned the UK over £3 billion in the last 5 years. Income taxes account to almost £1.5 billion, while the money saved from hiring EU medical professionals who were trained overseas totals to a further £1.6 billion. The money earned and saved from hiring EU medical professionals in the last 5 years could pay for the entire UK government (including salaries) for that duration, and some.
Berlin, Germany, July, 2019:
Digital healthcare providers Medbelle have released a study revealing how much the UK has earned in income
tax and saved on education in the last 5 years by hiring EU medical professionals. Right now the UK government is facing the monumental task of preparing Britain for Brexit, and every industry will face its own set of challenges and require reinvention and evolution. The medical industry in particular operates on a great deal of talent sourced outside of the UK, so Medbelle wanted to shine a light on how it will be impacted by Britain leaving the EU, in the hope that those in charge can take the steps necessary to ensure the continuing livelihood of the NHS and British medical care.
How the study was conducted: The research reveals the average number of EU-born foreign-trained doctors and nurses who worked in the medical profession in the UK between 2014 – 2018. Medbelle then calculated the amount generated from tax contributions, in addition to how much money the UK government has saved
by not needing to educate these people from a young age. The overall income and savings column reveals an approximation of how much money the UK government has gained from hiring medical professionals around the EU in the last 5 years.
Please find the complete methodology and further information on the results page: https://www.medbelle.com/eu-medical-professionals.
Comparative Findings: With the total amount of money the UK has gained by hiring EU medical professionals between 2014 – 2018, you could:
Run both Houses of Parliament (Commons and Lords) as well as supporting organisations for around 5 years and 7 months, at a cost of £552 million per year.
Finance two years of no-deal Brexit preparation, at an estimated cost of £1.5 billion per year.
Pay for 3,456 MRI scanners, at £895,000 per scanner.
Pay for 562,427 hip operations, at £5,500 per operation.
Pay the salaries of 57,928 nurses with 5 year’s professional experience for one year, at an average yearly salary of £53,400.
“Everyone working within the UK medical profession, whether NHS or private, knows the huge value that foreign-born doctors and nurses bring to the UK in terms of their experience, wealth of knowledge and support. However, an aspect that is often overlooked from the outside is not only how much money EU medical workers contribute to the UK in income tax and social contributions, but also how much the government has saved in terms of education,” comments Daniel Kolb, CEO at Medbelle. “To educate all the EU-born doctors and nurses who came to the UK between 2014 – 2018 would have cost the government over £1.6 billion. We hope that this study can shine a light on the value of foreign labour in the medical industry, and that those in charge will be adequately prepared to increase funding into medical
education to compensate after Brexit.”
(Publishers are allowed to publish this data and graphics; we kindly ask that you give credit and link to the source: https://www.medbelle.com/eu-medical-professionals)
About Medbelle: As the first digital hospital, Medbelle strives to give every patient an unprecedented level
of high-quality, individualised care while building technology to ensure this experience is accessible to everyone. Since its launch in 2016, Medbelle have become the highest-rated healthcare provider in the UK by only working with hand-picked hospitals and
medical specialists, building digital tools that simplify every interaction during the patient journey, and providing exceptional personal care to each patient. From procedure information to consultation, surgery, and aftercare, Medbelle is here to revolutionise
healthcare experiences for the better. Learn more at www.medbelle.com.
About SweetSpot PR: Based
in Berlin, Sweet Spot PR is a team of creatives, journalists and data analysts who founded
an agency in response to the growing challenges facing the media as the industry adapts to the digital world. The agency promotes fact-based, informative and compelling journalism by connecting data-driven journalists with excellent content from research agencies
and industry patrons.