Being an anchor refers to a business decision-making framework that prioritizes the health of a local community in hiring, purchasing, and investing.
Hospitals alone represent a staggering revenue of $964 billion in the nonprofit sector, underscoring their critical economic influence on local communities.
The concept of anchor institutions emerges from the idea that these nonprofits cannot easily relocate, thereby fostering a vested interest in community wellbeing.
Large hospitals, seen as anchor institutions, signify a responsibility to their communities that extends beyond their healthcare roles, impacting local economies and social fabric.
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