Biggest profits and losses at South Florida hospitals in 2012 - database

The uncertainty of the coming health care reforms didn?t stop South Florida hospitals from growing their profitability in 2012.

The 65 local hospitals combined to earn $748.3 million last year, a 7.3 percent increase from their income of $697.5 million in 2011, according to the Florida Agency for Health Care Administration. Their combined profit margin improved to 6.05 percent from 5.8 percent.

Go here for a database of financial results for all South Florida hospitals. It can be sorted by profit and loss, bed occupancy rate, charity care and many other factors.

Minnesota hospital and HMO analyst Allan Baumgarten noted that South Florida hospital profit margins have improved greatly since 2008, when they were just 1.7 percent. Yet, hospitals in the Jacksonville, Orlando and Tampa areas had much greater profit margins, his annual Florida Health Market Review found.

Their combined net operating revenue grew 2.1 percent to $12.37 billion in 2013.

South Florida Hospital and Healthcare Association President Linda Quick was surprised that revenue is up because inpatient visits declined. Hospitals must be making it up with increased outpatient services or observation visits, she said. That will be an increasing trend as the Affordable Care Act expands insurance access to preventive care.

Baumgarten said inpatient days spent at South Florida hospitals fell 11.3 percent between 2007 and 2012. He believes the ACA could lead to more elective hospital procedures.

Quick said a 60 percent occupancy rate is considered healthy for acute care hospitals. There were 27 acute care hospitals in the region below that mark last year, with Broward County doing the worst, at 10 out of 15.

Brian Bandell covers banking, finance, health care and education. Get the latest banking industry news here.

Source: http://feedproxy.google.com/~r/vertical_32/~3/RrIi-8wOHKc/see-biggest-profits-and-losses-at.html

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