Below here are the Net Assets of each of these 20 Hospital Organizations at both the most recent reported date and also at the Fiscal Year End (FYE) closest to the beginning of the Obama Administration:
| FYE | Balance | Net | ||||||
| Most | Balance | Sheet | Assets | |||||
| Most | Recent | Sheet | Net | % | ||||
| Recent | Balance | Date | Assets | Change | ||||
| Balance | Sheet | Beginning | Beginning | During | ||||
| City | State | Sheet | Net | Obama | Obama | Obama | ||
| Hospital Organization | HQs | HQs | Date | Assets | Admin | Admin | Admin | |
| mil $s | mil $s | |||||||
| Non-Profit Hospitals | ||||||||
| …..Non-Public Hospitals | ||||||||
| Adventist Health System | Altamonte Springs | FL | Dec 13 | 6,320 | Dec 08 | 3,407 | 86% | |
| BayCare Health System | Clearwater | FL | Dec 13 | 3,504 | Dec 08 | 1,523 | 130% | |
| Baptist Health South Florida | Coral Gables | FL | Dec 13 | 2,849 | Sep 09 | 1,571 | 81% | |
| Baptist Health System | Jacksonville | FL | Mar 14 | 1,511 | Sep 09 | 687 | 120% | |
| Nemours Foundation | Jacksonville | FL | Dec 12 | 956 | Dec 08 | 744 | 28% | |
| Shands Teaching Hospitals & Clinics | Gainesville | FL | Dec 13 | 898 | Jun 09 | 569 | 58% | |
| Health First | Rockledge | FL | Dec 13 | 666 | Sep 09 | 481 | 38% | |
| Tampa General Hospital | Tampa | FL | Dec 13 | 655 | Sep 09 | 331 | 98% | |
| All Children's Hospital | St Petersburg | FL | Dec 13 | 640 | Sep 09 | 516 | 24% | |
| Lakeland Regional Health | Lakeland | FL | Dec 13 | 576 | Sep 09 | 390 | 48% | |
| Miami Children's Hospital | Miami | FL | Dec 13 | 540 | Dec 08 | 236 | 129% | |
| H. Lee Moffitt Cancer Center | Tampa | FL | Dec 13 | 434 | Jun 09 | 352 | 23% | |
| NCH Healthcare System | Naples | FL | Dec 13 | 430 | Sep 09 | 353 | 22% | |
| Total all 13 Non-Public Non-Profit Hospitals | 19,979 | 11,160 | 79% | |||||
| …..Public Governmental Hospitals | ||||||||
| South Broward Hospital District | Hollywood | FL | Jan 14 | 1,619 | Apr 09 | 1,011 | 60% | |
| Orlando Health | Orlando | FL | Mar 14 | 1,263 | Sep 09 | 875 | 44% | |
| North Broward Hospital District | Fort Lauderdale | FL | Dec 13 | 850 | Jun 09 | 564 | 51% | |
| Lee Memorial Health System | Fort Myers | FL | Dec 13 | 865 | Sep 09 | 576 | 50% | |
| Sarasota County Public Hosp District | Sarasota | FL | Mar 14 | 761 | Sep 09 | 542 | 40% | |
| Total all 5 Public Governmental Hospitals | 5,358 | 3,568 | 50% | |||||
| Publicly-held Hospitals | ||||||||
| Mednax | Sunrise | FL | Dec 13 | 2,343 | Dec 08 | 965 | 143% | |
| Health Management Associates | Naples | FL | Sep 13 | 1,008 | Dec 08 | 286 | 252% | |
| Total all 2 Publicly-held Hospitals | 3,351 | 1,251 | 168% | |||||
| Total all 20 Non-Profit and Publicly-held Hospitals | 28,688 | 15,979 | 80% | |||||
As you can see from the above chart, the Total Net Assets (Financial Strength) of these 20 Florida Hospital Organizations increased by an exceptional 80% to a massive $28.688 bil for their average 4.50 years so far during the Obama Administration.
Also as you can see from the above chart, the Total Net Assets (Financial Strength) of the 13 Non-Profit Hospital Organizations which are not Public Governmental ones increased by an exceptional 79% to $19.979 bil for their average 4.44 years so far during the Obama Administration. Further, in just the past 6 months, these 13 Florida Hospital Organizations had this Total Net Asset growth increase substantially from 63% to 79%.
In addition, the Affordable Care Act (ACA) has also played a key role in this substantial increase in Net Assets (Financial Strength) of these 20 Florida Hospital Organizations.
A remarkable thing is that these very robust increases in Net Assets (Financial Strength) of these Florida Hospital Organizations occurred when these Hospitals were also playing very instrumental roles in the substantial annual percentage growth reduction of Total US Health Care Costs which occurred in each of the most recent three years under the ACA.
With such substantial Net Asset percentage increases of these 20 Florida Hospital Organizations, a key beneficiary of this will be Florida citizens electing to buy health insurance on the Health Insurance Exchange. This exceptional Net Asset growth gives these 20 Florida Hospital Organizations the financial flexibility to moderate their pricing for hospital procedures in their negotiations with health insurance companies which ultimately determines what insurance premium prices are set at by health insurance companies on the Health Insurance Exchange.
Not included in the above large Hospital Organizations is the Clearwater Florida Headquartered Shriners Hospitals For Children. It hasn't disclosed its Audited December 2013 Financial Statements yet on its website. Its Total Net Assets at December 31, 2012 were a huge $8.334 bil, which was an 18% increase from the $7.061 bil of Total Net Assets at December 31, 2008. It should have a very robust increase in Net Assets in 2013, due to the very strong stock market.....it has Total Long-term Investments of $7.6 bil at December 31, 2012.....coupled with a higher discount rate used to measure its pension liabilities from a bit higher long-term interest rate environment.
Florida Safety Net Hospitals: Public Health Trust of Miami-Dade County
There are a number of Florida Safety Net Public Hospitals. The largest is the Public Health Trust of Miami-Dade County, which is overwhelmingly the huge Jackson Hospitals.
From reviewing its financial statements on EMMA, the Public Health Trust of Miami-Dade County generated an Operating Loss of a large $339 mil in the fiscal year ended September 2012. For the most recent 5 years combined, these Operating Losses totaled a monstrous $2.247 bil.
So Many Struggling Florida Hospitals
But it's not just the Miami area Jackson Hospitals which are severely struggling in the State of Florida Hospital universe.
The State of Florida is being very transparent with its citizens by having available for review at its State Dept of Health website (MyFlorida.com) very detailed financial information on each of its 173 Hospitals. This Operating Statement information presented was for 2011.
Overall, these 173 Florida Hospitals had a Total Operating Income of $1.202 bil in 2011 which was a seemingly respectable Goldilocks 3.9% of their Total Operating Revenues of $31.156 bil. And these 173 Florida Hospitals' Total Operating Income of $1.202 bil in 2011 was burdened with an Earnings Charge of a massive $4.319 bil due to Total Provisions for Bad Debts. In addition, their Total Uncompensated Charity Care Charges Foregone were $6.217 bil in 2011.
But you have to stratify these Hospitals to find out what is really going on with Florida Hospitals.
First, let's look at the upper end Florida Hospitals.
There were 56 of these 173 Florida Hospitals which generated Operating Income as a Percentage of Total Operating Revenues of above 7.5% in 2011. I'll call these Top 56 the Orange Supreme Hospitals. In the aggregate, they generated Total Operating Income of an obscene 12.7% of Total Operating Revenues.....that's more than 25% higher than what the 30 Dow Industrials combined generated on an After-tax basis. This is flat out crazy and tells you why US Health Care Costs have been so incredibly out of control. Here are the Top 56:
| Operating | ||||
| Operating | Total | Income | ||
| Florida | Income | Operating | (Loss) | |
| County | Florida Hospital Name | (Loss) | Revenues | Margin |
| 000s | 000s | % | ||
| Orange Supreme Hospitals | ||||
| Duval | River Point Behavioral Health | 6,632 | 18,270 | 36.3% |
| Duval | Wekiva Springs | 4,140 | 12,673 | 32.7% |
| Sarasota | Healthsouth | 8,745 | 31,004 | 28.2% |
| Monroe | Depoo Hospital | 23,951 | 86,448 | 27.7% |
| Baker | Ed Fraser Memorial Hospital | 3,982 | 14,881 | 26.8% |
| Polk | Heart of Florida Regional Med Ctr | 32,627 | 134,821 | 24.2% |
| Miami-Dade | Univ Miami Hospital and Clinics | 80,667 | 339,842 | 23.7% |
| Miami-Dade | St Catherine's Rehabilitation Hospital | 5,860 | 25,062 | 23.4% |
| Pinellas | Healthsouth | 4,562 | 20,296 | 22.5% |
| Hernando | Brooksville Regional Hospital | 33,266 | 154,398 | 21.5% |
| Flagler | Florida Hospital Flagler | 22,400 | 111,093 | 20.2% |
| Broward | Cleveland Clinic | 35,751 | 194,016 | 18.4% |
| Miami-Dade | Baptist Hospital Miami | 162,869 | 888,007 | 18.3% |
| Miami-Dade | Doctors Hospital | 35,420 | 199,402 | 17.8% |
| Indian River | Sebastian River Medical Center | 12,203 | 71,108 | 17.2% |
| Brevard | Wuesthoff Medical Center-Melbourne | 12,280 | 73,123 | 16.8% |
| Miami-Dade | Kendall Regional Medical Center | 41,358 | 247,102 | 16.7% |
| Broward | Memorial Hospital Miramar | 26,421 | 158,045 | 16.7% |
| Monroe | Mariners Hospital | 7,167 | 46,403 | 15.4% |
| Broward | St Anthony's Rehabilitation Hospital | 1,484 | 9,614 | 15.4% |
| Leon | Tallahassee Memorial Hospital | 68,652 | 451,155 | 15.2% |
| Broward | Memorial Hospital West | 58,590 | 394,481 | 14.9% |
| Marion | The Vines Hospital | 993 | 6,742 | 14.7% |
| Miami-Dade | Aventura Hospital and Medical Center | 38,453 | 266,789 | 14.4% |
| Pinellas | Mease Dunedin Hospital | 47,589 | 337,288 | 14.1% |
| Citrus | Seven Rivers Regional Medical Center | 10,620 | 77,659 | 13.7% |
| Duval | Mayo Clinic | 52,170 | 385,620 | 13.5% |
| Nassau | Baptist Medical Center-Nassau | 6,913 | 51,152 | 13.5% |
| Lee | Lee Memorial Hospital | 71,635 | 569,818 | 12.6% |
| Pinellas | Morton Plant Hospital | 53,895 | 429,058 | 12.6% |
| Lake | South Lake Hospital | 16,729 | 133,204 | 12.6% |
| Miami-Dade | South Miami Hospital | 57,379 | 458,125 | 12.5% |
| Lee | Cape Coral Hospital | 23,202 | 186,522 | 12.4% |
| Suwanee | Shands Live Oak Regional Med Ctr | 2,329 | 19,091 | 12.2% |
| Monroe | Fishermen's Hospital | 1,358 | 11,655 | 11.7% |
| Walton | Sacred Heart Hospital Emerald Coast | 9,001 | 78,369 | 11.5% |
| Hillsborough | St Joseph's Hospital | 84,521 | 742,385 | 11.4% |
| Marion | The Centers Inc | 304 | 2,790 | 10.9% |
| Duval | Baptist Medical Center-Downtown | 79,373 | 728,731 | 10.9% |
| Collier | Physicians Regional Med Ctr-Pine Ridge | 18,471 | 170,128 | 10.9% |
| Charlotte | Charlotte Regional Medical Center | 11,861 | 111,424 | 10.6% |
| Santa Rosa | Santa Rosa Medical Center | 5,936 | 55,882 | 10.6% |
| Pinellas | Baycare Alliant Hospital | 1,753 | 17,112 | 10.2% |
| Pinellas | St Anthony's Hospital | 17,595 | 175,340 | 10.0% |
| Osceola | St Cloud Regional Medical Center | 4,714 | 49,785 | 9.5% |
| Pasco | Florida Hospital Zephyrhills | 12,832 | 135,735 | 9.5% |
| Orange | Florida Hospital | 204,120 | 2,173,541 | 9.4% |
| Sarasota | Venice Regional Medical Center | 14,414 | 154,362 | 9.3% |
| Polk | Bartow Regional Medical Center | 5,287 | 56,620 | 9.3% |
| Volusia | Florida Hospital Fish Memorial | 11,370 | 123,838 | 9.2% |
| Escambia | Baptist Hospital | 31,645 | 344,755 | 9.2% |
| Miami-Dade | Anne Bates Leach Hospital | 8,346 | 99,758 | 8.4% |
| Volusia | Florida Hospital Deland | 8,812 | 111,336 | 7.9% |
| Pasco | Pasco Regional Medical Center | 3,950 | 50,825 | 7.8% |
| Duval | Baptist Medical Center-Beaches | 7,484 | 98,292 | 7.6% |
| Orange | Orlando Regional Medical Center | 113,515 | 1,518,411 | 7.5% |
| Total all 56 Florida Orange Supreme Hospitals | 1,727,596 | 13,613,386 | 12.7% | |
But you get a completely different story when you look at the bottom portion of these 173 Florida Hospitals.
In total, 67 of the 173 Florida Hospitals had Operating Losses in the most recent year reported (2011). These Losses totaled $903 mil in 2011, which were a huge (14.0)% of the Total Operating Revenues of $6.439 bil related to these 67 Operating Loss Florida Hospitals, as you can see in the below chart:
| Operating | ||||
| Operating | Total | Income | ||
| Florida | Income | Operating | (Loss) | |
| County | Florida Hospital Name | (Loss) | Revenues | Margin |
| 000s | 000s | % | ||
| Gadsden | Florida State Hospital | (108,699) | 2,794 | -3890.4% |
| Broward | South Florida State Hospital | (28,140) | 3,299 | -853.0% |
| Hillsborough | Shriners Hospitals For Children-Tampa | (19,015) | 3,100 | -613.4% |
| Baker | Northeast Florida State Hospital | (50,701) | 9,018 | -562.2% |
| Miami-Dade | West Kendall Baptist Hospital | (50,240) | 34,435 | -145.9% |
| Palm Beach | Jerome Golden Center For Behavioral Health | (2,616) | 1,809 | -144.6% |
| Palm Beach | Holley State Hospital | (6,233) | 5,780 | -107.8% |
| Brevard | Viera Hospital | (16,043) | 20,385 | -78.7% |
| Brevard | Circles of Care | (4,325) | 6,215 | -69.6% |
| Gulf | Sacred Heart Hospital on the Gulf | (6,000) | 9,349 | -64.2% |
| Franklin | Weems Memorial Hospital | (2,811) | 5,157 | -54.5% |
| Hendry | Henry Regional Medical Center | (7,672) | 14,836 | -51.7% |
| Lake | Lifestream Behavioral Center | (2,180) | 4,749 | -45.9% |
| Orange | La Amistad Residential Treatment Ctr | (2,581) | 5,971 | -43.2% |
| Orange | University Behavioral Center | (1,909) | 5,846 | -32.7% |
| Miami-Dade | Jackson Memorial Hospital | (360,572) | 1,127,050 | -32.0% |
| Palm Beach | Lakeside Medical Center | (9,063) | 29,501 | -30.7% |
| Leon | Eastside Psychiatric Hospital | (1,005) | 3,477 | -28.9% |
| Miami-Dade | Douglas Gardens Hospital | (1,843) | 7,622 | -24.2% |
| Putnam | Putnam Community Medical Center | (9,640) | 53,396 | -18.1% |
| Columbia | Shands Lake Shore Regional Med Ctr | (6,379) | 37,531 | -17.0% |
| Volusia | Bert Fish Medical Center | (5,983) | 36,193 | -16.5% |
| Levy | Tri County Hospital-Williston | (850) | 5,165 | -16.5% |
| Collier | Willough at Naples | (2,291) | 14,899 | -15.4% |
| Pinellas | Florida Hospital North Pinellas | (9,271) | 61,266 | -15.1% |
| Madison | Madison County Memorial Hospital | (928) | 6,248 | -14.9% |
| Desoto | Desoto Memorial Hospital | (4,045) | 28,567 | -14.2% |
| Broward | Broward Health North | (21,150) | 170,473 | -12.4% |
| Duval | St Vincent's Medical Center Southside | (14,157) | 115,139 | -12.3% |
| Jackson | Campbellton-Graceville Hospital | (837) | 6,978 | -12.0% |
| Miami-Dade | Metropolitan Hospital Miami | (4,386) | 39,426 | -11.1% |
| Miami-Dade | Homestead Hospital | (18,191) | 165,347 | -11.0% |
| Broward | Broward Health Imperial Point | (6,788) | 95,603 | -7.1% |
| Taylor | Doctors Memorial Hospital | (1,248) | 18,915 | -6.6% |
| Broward | Memorial Hospital Pembroke | (7,504) | 113,844 | -6.6% |
| Bay | Bay Medical Center: Sacred Heart System | (12,417) | 217,073 | -5.7% |
| Broward | University Hospital and Medical Center | (5,392) | 96,619 | -5.6% |
| Manatee | Lakewood Ranch Medical Center | (2,880) | 54,599 | -5.3% |
| Highlands | Highlands Regional Medical Center | (2,829) | 54,027 | -5.2% |
| Volusia | Halifax Health Medical Center | (19,545) | 384,957 | -5.1% |
| Holmes | Doctors Memorial Hospital | (563) | 12,129 | -4.6% |
| Hardee | Florida Hospital Wauchula | (707) | 19,025 | -3.7% |
| Jackson | Jackson Hospital | (1,529) | 43,928 | -3.5% |
| Calhoun | Calhoun-Liberty Hospital | (301) | 9,004 | -3.3% |
| Miami-Dade | Mercy Hospital Campus of Plantation General Hospital | (2,146) | 69,414 | -3.1% |
| Brevard | Wuesthoff Medical Center-Rockledge | (4,133) | 136,366 | -3.0% |
| Brevard | Palm Bay Hospital | (997) | 34,577 | -2.9% |
| Indian River | Indian River Medical Center | (4,214) | 165,618 | -2.5% |
| Union | Lake Butler Hospital Hand Surgery Ctr | (193) | 8,048 | -2.4% |
| Union | Reception and Medical Center Hospital | (16,369) | - | |
| Charlotte | Peace River Regional Medical Center | (1,949) | 89,572 | -2.2% |
| Broward | Memorial Regional Hospital | (15,709) | 731,256 | -2.1% |
| Hillsborough | Florida Hospital Carrollwood | (1,557) | 89,325 | -1.7% |
| Walton | Healthmark Regional Medical Center | (172) | 10,026 | -1.7% |
| Citrus | Citrus Memorial Hospital | (2,329) | 141,084 | -1.7% |
| Broward | Broward Health Coral Springs | (2,124) | 132,657 | -1.6% |
| Hernando | Springbrook Hospital | (252) | 16,038 | -1.6% |
| Lee | Lehigh Regional Medical Center | (545) | 41,025 | -1.3% |
| Bradford | Shands Starke Regional Medical Center | (231) | 20,223 | -1.1% |
| Santa Rosa | Jay Hospital | (128) | 12,350 | -1.0% |
| Miami-Dade | University Miami Hospital | (3,063) | 306,483 | -1.0% |
| Lake | Leesburg Regional Medical Center | (1,827) | 221,127 | -0.8% |
| Duval | Shands Jacksonville Medical Center | (2,192) | 506,849 | -0.4% |
| Volusia | Florida Hospital Oceanside | (753) | 205,897 | -0.4% |
| Broward | Plantation General Hospital | (666) | 269,396 | -0.2% |
| Brevard | Devereux Florida | (38) | 15,766 | -0.2% |
| Hillsborough | Town & Country Hospital | (106) | 54,870 | -0.2% |
| Total all 67 | (903,152) | 6,438,711 | -14.0% |
In addition to the above 67 Florida Hospitals generating Operating Losses in 2011, there were another 23 of these 173 Florida Hospitals which generated very modest Operating Income as a Percentage of Total Operating Revenues from 0.0% to 2.6%, as you can see in the below chart:
| Operating | ||||
| Operating | Total | Income | ||
| Florida | Income | Operating | (Loss) | |
| County | Florida Hospital Name | (Loss) | Revenues | Margin |
| 000s | 000s | % | ||
| Santa Rosa | West Florida Community Care Ctr | 2 | 7,486 | 0.0% |
| Hillsborough | Tampa General Hospital | 720 | 986,242 | 0.1% |
| Polk | Winter Haven Hospital | 500 | 224,952 | 0.2% |
| Pasco | Morton Plant North Bay Hospital | 208 | 83,215 | 0.2% |
| Pinellas | Bayfront Medical Center | 915 | 253,064 | 0.4% |
| Orange | Central Florida Behavioral Hospital | 73 | 13,723 | 0.5% |
| Brevard | Parrish Medical Center | 796 | 142,763 | 0.6% |
| St Lucie | Port St Lucie Hospital | 106 | 16,466 | 0.6% |
| Palm Beach | Boca Raton Regional Hospital | 2,397 | 328,000 | 0.7% |
| Lee | Gulf Coast Med Ctr Lee Memorial | 2,848 | 274,635 | 1.0% |
| Broward | Broward Health Medical Center | 4,364 | 417,725 | 1.0% |
| Miami-Dade | Westchester General Hospital | 677 | 60,567 | 1.1% |
| Pinellas | Palms of Pasadena Hospital | 806 | 71,032 | 1.1% |
| Palm Beach | Jupiter Medical Center | 1,927 | 165,827 | 1.2% |
| Miami-Dade | Coral Gables Hospital | 1,138 | 75,189 | 1.5% |
| Hillsborough | Florida Hospital Tampa | 4,845 | 318,530 | 1.5% |
| St Johns | Flagler Hospital | 3,904 | 188,155 | 2.1% |
| Sarasota | Sarasota Memorial Hospital | 9,585 | 459,027 | 2.1% |
| Pinellas | All Children's Hospital | 2,152 | 86,277 | 2.5% |
| Okaloosa | Gulf Coast Treatment Center | 47 | 1,882 | 2.5% |
| Marion | Munroe Regional Medical Center | 7,477 | 292,662 | 2.6% |
| Alachua | Shands Hospital Univ Florida | 24,717 | 949,820 | 2.6% |
| Hillsborough | South Florida Baptist Hospital | 2,165 | 81,884 | 2.6% |
| Total all 23 | 72,369 | 5,499,123 | 1.3% |
When you have 90 or 52% of Florida Hospitals with these huge Operating Losses or very modest Operating Income, the responsible thing to do is to deal with them and not ignore them. So far, the State of Florida has irresponsibly decided to ignore them.
The best and only way to substantially strengthen the very poor Operating Results of these so many struggling Florida Hospitals is for the State of Florida to fully expand Medicaid. This action will dramatically improve the profits of every single Florida Hospital. If Florida fully expands Medicaid, there will be a resultant massive inflow of Patient Revenues, after all there were a massive $4.319 bil of Total Provisions for Bad Debts Charges that reduced the Total Operating Revenues of all Florida Hospitals in 2011. In addition, there were $6.217 bil of Uncompensated Charity Care Charges Foregone in 2011.
A key side benefit here to Florida citizens is that the resultant profit enhancements and thus Net Asset enhancements of all of these Florida Hospitals due to Medicaid expansion will give these Florida Hospitals the financial flexibility to moderate their pricing for hospital and other health care procedures in their negotiations with health insurance companies which ultimately determines what insurance premium prices are set at by health insurance companies on the Health Insurance Exchange.
