Healthcare: Fueling New Jersey’s Healthy Economy
The pioneers of medicine’s future? The medical students, researchers and healthcare providers of New Jersey. Their commitment to research, finding cures for dread diseases and new ways to better care for patients’ health is fueled by our medical facilities. It’s the State’s nationally-ranked hospitals, healthcare systems, world-class universities, medical schools and research institutions that foster the ecosystem driving medical discovery. Here, in New Jersey.
Home to more than 21,500 healthcare establishments, New Jersey also is leading the way in state-of- the-art healthcare delivery – from advances in maternal and child health services to the latest in surgical technology to cutting-edge cancer research and treatment.
The other ingredients that make New Jersey a great place for companies to run their clinical trials are our high population density, multicultural diversity and outstanding transportation infrastructure.
New Jersey’s healthcare industry also plays an important role in the health of the State’s economy. For the past 2 decades, our hospitals have been a primary driver of private-sector employment, employing more than 460,000 full- and part-time jobs. Their indirect impact pumps more than $22 billion into the Garden State economy each year.
A Network of World-Class Hospitals and Health Systems
Home to a strong network of cutting-edge hospitals and healthcare systems, New Jersey outpaces the nation on several quality measures, according to the latest Hospital Performance Report from the New Jersey Department of Health.
Among the State’s 112 hospitals and 70 acute care hospitals, 4 are nationally ranked and 49 others meet national high performing standards, according to U.S. News & World Report’s 2016-2017 Best Hospitals rankings. Topping the list is Hackensack University Medical Center, which was ranked the #1 hospital in New Jersey and nationally ranked in 4 adult specialties, including cardiology and heart surgery.
New Jersey hospitals also are raising the bar on technology across all medical specialties. These facilities are working to reduce error, streamline processes and improve the patient experience. In 2017, 22 New Jersey hospitals made Hospitals & Health Networks’ Most Wired list, an industry-standard benchmark study designed to measure the level of IT adoption in U.S. hospitals.
Where Discovery Flourishes
A strong alignment of academic institutions, medical schools, hospitals and the private sector has helped make the State a hotbed for innovation. As a result, companies located here are on the forefront of bringing innovative treatments and products to market. In 2014, more than 1,100 medicines were making their way through New Jersey companies’ pipelines. The following year saw greater than 50% of FDA product approvals coming from companies with a footprint in the State.
MEDICINES IN PIPELINE
ACTIVE OR OPEN CLINICAL TRIALS
2016 FDA APPROVALS
Research Institutes to Fuel Innovation
New Jersey’s colleges and universities have made huge contributions to the health of our State: They have devoted more than 1.2 million square feet of facility space to research in the biological and health sciences fields. That work comes primarily from Princeton University and Rutgers, The State University of New Jersey, 2 of the country’s most prestigious research schools. Princeton, Rutgers and a number of other research institutes focus on a wide range of health issues across the State, including:
- Center for Integrative Proteomics Research
- The Human Genetics Institute of New Jersey
- Coriell Institute for Medical Research
A Prime Location for Learning & Clinical Trials
What makes New Jersey a prime location for clinical trials starts with the State’s high concentration of hospitals, medical schools and universities. The work of New Jersey’s research institutes (see above) is enhanced by their close proximity to 13 teaching hospitals, and the 4 medical schools in the State:
The Big Four
- New Jersey Medical School at Rutgers (Newark)
- Robert Wood Johnson Medical School at Rutgers (New Brunswick)
- Cooper Medical School of Rowan University (Camden)
- Rowan School of Osteopathic Medicine (Stratford)
Each one is known for its top-level training, turning out excellent future medical practitioners.