Florida General Acute Care Local Governmental Hospital Total Operating Losses $4.2 Bil For 10 Years 2003-2012 or 9.9% of Revenues.....Screaming Out For Medicaid Expansion

Just recently, the State of Florida included on its Agency for Health Care Administration website (ahca.myflorida.com) its 2012 Hospital Financial Data.  This very informative information came from financial data filed by Florida Hospitals with the Agency.  I think it would be very helpful to State citizens if other States would follow the State of Florida's outstanding financial transparency lead here.

In this third post on this Florida Hospital Financial Data, I will cover key aspects of the General Acute Care Local Governmental Hospitals.

The first thing that really stuck out to me is how the Total Operating Losses of these Florida General Acute Care Local Governmental Hospitals have been so huge each and every year from 2003 to 2012.

Every year had Total Operating Losses in excess of $300 mil, and at least 7.0% of Total Operating Revenues each year.  And for the 10 years combined, the Total Operating Losses were a staggering $4.169 bil, or 9.9% of Total Operating Revenues.

Below here are the Total Operating Losses, Total Operating Revenues and the Total Operating Loss Margin Percentage for all of the Florida General Acute Care Local Governmental Hospitals for each of the 10 years from 2003 to 2012:

Florida General Acute Care Local Governmental Hospitals
			Operating
	Total	Total	Loss
	Operating	Operating	Margin
	Losses	Revenues	%
	$000s	$000s
2003	(334,559)	3,059,642	-10.9%
2004	(388,192)	3,253,802	-11.9%
2005	(343,012)	3,573,287	-9.6%
2006	(376,960)	3,862,826	-9.8%
2007	(471,482)	4,197,872	-11.2%
2008	(495,301)	4,395,809	-11.3%
2009	(653,606)	4,786,930	-13.7%
2010	(418,166)	5,029,392	-8.3%
2011	(357,149)	5,113,977	-7.0%
2012	(330,575)	4,737,403	-7.0%
Ten Year Total	(4,169,002)	42,010,940	-9.9%

The chart below shows the 2012 above amounts for each of the 21 Florida General Acute Care Local Governmental Hospitals:

				2012
				Operating
		2012	2012	Income
		Operating	Total	(Loss)
		Income	Operating	Margin
County	Hospital Name	(Loss)	Revenues	%
		$000s	$000s
Florida General Acute Care Local Governmental Hospitals
Miami-Dade	Jackson Memorial Hospital	(321,036)	1,040,449	-30.9%
Broward	Memorial Regional Hospital	(21,462)	746,867	-2.9%
Volusia	Halifax Health Medical Center	(18,175)	400,801	-4.5%
Broward	Broward Health Medical Center	(13,599)	410,433	-3.3%
Hendry	Henry Regional Medical Center	(12,294)	13,302	-92.4%
Palm Beach	Lakeside Medical Center	(10,652)	28,479	-37.4%
Broward	Broward Health North	(8,138)	192,966	-4.2%
Broward	Memorial Hospital Pembroke	(7,038)	111,266	-6.3%
Broward	Broward Health Imperial Point	(6,838)	97,339	-7.0%
Desoto	Desoto Memorial Hospital	(5,411)	26,731	-20.2%
Sarasota	Sarasota Memorial Hospital	(5,014)	437,666	-1.1%
Jackson	Jackson Hospital	(1,790)	43,463	-4.1%
Franklin	Weems Memorial Hospital	(1,362)	6,208	-21.9%
Holmes	Doctors Memorial Hospital	(715)	12,233	-5.8%
Marion	Munroe Regional Medical Center	(569)	294,446	-0.2%
Jackson	Campbellton-Graceville Hospital	(343)	6,516	-5.3%
Broward	Broward Health Coral Springs	212	142,088	0.1%
Baker	Ed Fraser Memorial Hospital	5,016	17,460	28.7%
Brevard	Parrish Medical Center	5,181	141,351	3.7%
Broward	Memorial Hospital Miramar	29,442	159,305	18.5%
Broward	Memorial Hospital West	64,010	408,034	15.7%
Total all 21 General Acute Care Local Government Hospitals		(330,575)	4,737,403	-7.0%

Yeah, 16 of these 21 Florida General Acute Care Local Government Hospitals had Operating Losses in 2012.

Florida taxpayers are funding these substantial Operating Losses, mostly through Property Taxes.

The second thing that really stuck out to me is how these substantial Operating Losses are being driven by just huge Total Provisions for Bad Debts.

In 2012, there were Total Operating Losses of $331 mil.  Also in 2012, there were Total Provisions for Bad Debts of a massive $1.581 bil, which caused and were nearly 5 times these Total Operating Losses of $331 mil.

And the third thing that really stuck out to me is how substantial the Total Uncompensated Charity Care Charges Foregone were in 2012.....another huge $1.396 bil. 

With the ACA, a significant portion of these 2 items will be eliminated, thereby markedly increasing the Patient Service Fee Income of nearly every Florida Local Government Hospital, and thereby also turning these Total Operating Losses into Total Operating Income.  And if Florida were to fully expand Medicaid, a huge portion of these 2 items will be eliminated, thereby very substantially increasing the Patient Service Fee Income and also the Income of nearly every Florida Local Government Hospital, and thereby turning these Total Operating Losses into a very substantial Total Operating Income.

Yeah, I think it is time for the Florida State Legislature to step up and take the economically sound, fair and patriotic approach and vote for full expansion of Medicaid in Florida.

Florida General Acute Care For-Profit Hospital Operating Income Up 303% Under Obama and the ACA Through 2012

Just recently, the State of Florida included on its Agency for Health Care Administration website (ahca.myflorida.com) its 2012 Hospital Financial Data.  This very informative information came from financial data filed by Florida Hospitals with the Agency.  I think it would be very helpful to State citizens if other States would follow the State of Florida's outstanding financial transparency lead here.

In this second post on this Florida Hospital Financial Data, I will cover key aspects of the General Acute Care For-Profit Hospitals.  There were 84 of them reporting their financial data to the State of Florida in 2012.

What stuck out to me is how the Total Profits of these Florida General Acute Care For-Profit Hospitals have dramatically increased during the Obama Administration and the Affordable Care Act (ACA) through 2012.

In 2008, the last year of the Bush 2 Administration, the Total Operating Income of all Florida General Acute Care For-Profit Hospitals was $231.5 mil, which was 2.6% of Total Operating Revenues of $8.930 bil.

In 2012, this Total Operating Income of all Florida General Acute Care For-Profit Hospitals was $932.0 mil, which was 8.3% of Total Operating Revenues of $11.177 bil.

Thus for the first 4 years of the Obama Administration, this Total Operating Income Margin Percentage increased by a substantial 219% from 2.6% in 2008 to 8.3% in 2012.

In dollar terms, this Operating Income Margin increased even more so during the first 4 years of the Obama Administration or by a spectacular 303%, going from $231.5 mil in 2008 to $932.0 bil in 2012.

It is very easy for me to understand why so many in the Hospital Industry like both the Obama Administration and the ACA so much.....they have flat out thrived during them.

The chart below shows the Total Operating Income, Total Operating Revenues and Total Operating Margin Percentages of all Florida General Acute Care For-Profit Hospitals for each of the 5 years from 2008 to 2012:

Florida General Acute Care For-Profit Hospitals
			Operating
	Total	Total	Income
	Operating	Operating	Margin
	Income	Revenues	%
	$000s	$000s
2008	231,453	8,930,475	2.6%
2009	606,204	9,354,703	6.5%
2010	738,398	9,747,779	7.6%
2011	914,520	10,585,838	8.6%
2012	932,014	11,177,230	8.3%

The chart below shows the 2012 above amounts for each of the 84 Florida General Acute Care For-Profit Hospitals:

				2012
				Operating
		2012	2012	Income
		Operating	Total	(Loss)
		Income	Operating	Margin
County	Hospital Name	(Loss)	Revenues	%
		$000s	$000s
Florida General Acute Care For-Profit Hospitals
Monroe	Depoo Hospital	29,652	95,055	31.2%
Bay	Gulf Coast Medical Center	42,152	175,657	24.0%
Polk	Heart of Florida Regional Med Ctr	30,315	132,340	22.9%
Miami-Dade	Kendall Regional Medical Center	69,538	307,913	22.6%
Indian River	Sebastian River Medical Center	17,086	77,588	22.0%
Hernando	Brooksville Regional Hospital	32,815	151,898	21.6%
Okaloosa	Fort Walton Beach Medical Center	36,139	176,059	20.5%
Alachua	North Florida Regional Med Ctr	70,553	352,527	20.0%
Hillsborough	Brandon Regional Hospital	61,425	313,268	19.6%
St Lucie	St Lucie Medical Center	29,840	163,665	18.2%
Okeechobee	Raulerson Hospital	11,234	65,881	17.1%
St Lucie	Lawnwood Reg Med Ctr & Heart Inst	41,595	252,276	16.5%
Broward	Westside Regional Medical Center	27,499	171,178	16.1%
Brevard	Wuesthoff Med Ctr-Melbourne	13,614	85,109	16.0%
Collier	Physicians Reg Med Ctr-Pine Ridge	30,355	199,827	15.2%
Osceola	Osceola Regional Medical Center	37,273	249,363	14.9%
Clay	Orange Park Medical Center	33,733	238,305	14.2%
Citrus	Seven Rivers Regional Med Ctr	10,013	77,744	12.9%
Hernando	Oak Hill Hospital	20,393	158,750	12.8%
Miami-Dade	Aventura Hospital and Med Ctr	36,195	282,491	12.8%
Osceola	St Cloud Regional Medical Center	6,046	49,810	12.1%
Okaloosa	Twin Cities Hospital	4,860	41,703	11.7%
Okaloosa	North Okaloosa Medical Center	9,061	78,105	11.6%
Palm Beach	West Boca Medical Center	15,248	135,685	11.2%
Santa Rosa	Santa Rosa Medical Center	6,334	56,899	11.1%
Broward	Northwest Medical Center	17,793	162,597	10.9%
Suwanee	Shands Live Oak Regional Med Ctr	2,172	20,170	10.8%
Palm Beach	Delray Medical Center	28,360	264,991	10.7%
Madison	Blake Medical Center	19,290	185,863	10.4%
Pinellas	Largo Medical Center	25,057	245,790	10.2%
Lee	Capital Regional Medical Center	15,677	156,352	10.0%
Escambia	West Florida Hospital	19,710	202,037	9.8%
Marion	Ocala Regional Medical Center	21,820	225,613	9.7%
Polk	Bartow Regional Medical Center	5,600	58,243	9.6%
Manatee	Lakewood Ranch Medical Center	5,946	65,970	9.0%
Hillsborough	South Bay Hospital	6,137	74,666	8.2%
Charlotte	Peace River Regional Medical Center	10,248	127,045	8.1%
Pasco	Regional Med Center Bayonet Point	14,105	179,376	7.9%
Palm Beach	Palms West Hospital	10,495	140,352	7.5%
Palm Beach	St Mary's Medical Center	19,125	259,910	7.4%
Palm Beach	JFK Medical Center	27,249	377,327	7.2%
Hillsborough	Memorial Hospital Tampa	4,604	67,403	6.8%
Columbia	Lake City Medical Center	3,591	55,118	6.5%
Seminole	Central Florida Regional Hospital	7,652	128,847	5.9%
Palm Beach	Good Samaritan Medical Center	8,643	147,206	5.9%
Pasco	Pasco Regional Medical Center	2,761	50,027	5.5%
Sarasota	Venice Regional Medical Center	8,403	154,817	5.4%
Sarasota	Doctors Hospital sarasota	5,663	104,612	5.4%
Charlotte	Fawcett Memorial Hospital	7,293	140,395	5.2%
Polk	Lake Wales Medical Center	2,805	57,307	4.9%
Miami-Dade	Palmetto General Hospital	12,201	250,382	4.9%
Pinellas	St Petersburg General Hospital	4,468	97,192	4.6%
Palm Beach	Palm Beach Gardens Medical Center	7,252	174,445	4.2%
Bradford	Shands Starke Regional Med Center	802	23,679	3.4%
Duval	Memorial Hospital Jacksonville	9,438	290,008	3.3%
Miami-Dade	Larkin Community Hospital	2,299	72,691	3.2%
Washington	Northwest Florida Community Hosp	666	22,590	2.9%
Manatee	Manatee Memorial Hospital	4,306	201,900	2.1%
Palm Beach	Wellington Regional Medical Center	1,795	126,454	1.4%
Miami-Dade	Hialeah Hospital	1,238	108,036	1.1%
Miami-Dade	Westchester General Hospital	335	58,929	0.6%
Miami-Dade	Coral Gables Hospital	(108)	74,560	-0.1%
Lee	Lehigh Regional Medical Center	(456)	38,404	-1.2%
Miami-Dade	North Shore Medical Center	(3,447)	268,931	-1.3%
Pinellas	Palms of Pasadena Hospital	(993)	72,739	-1.4%
Walton	Healthmark Regional Medical Center	(158)	10,087	-1.6%
Brevard	Wuesthoff Medical Center-Rockledge	(2,798)	145,376	-1.9%
Pinellas	Edward White Hospital	(1,093)	51,724	-2.1%
Columbia	Shands Lake Shore Regional Med Ctr	(1,233)	44,758	-2.8%
Broward	University Hospital and Med Center	(2,954)	98,846	-3.0%
Miami-Dade	Palm Springs General Hospital	(1,695)	54,668	-3.1%
Charlotte	Charlotte Regional Medical Center	(2,422)	73,597	-3.3%
Pinellas	Northside Hospital	(4,244)	117,766	-3.6%
Highlands	Highlands Regional Medical Center	(2,529)	55,555	-4.6%
Hillsborough	Town & Country Hospital	(3,170)	51,600	-6.1%
Broward	Plantation General Hospital	(23,864)	333,487	-7.2%
Miami-Dade	Metropolitan Hospital Miami	(2,817)	39,053	-7.2%
Sarasota	Englewood Community Hospital	(3,348)	33,404	-10.0%
Pasco	Medical Center Trinity	(21,188)	148,317	-14.3%
Bay	Bay Med Ctr: Sacred Heart System	(23,348)	158,927	-14.7%
Union	Lake Butler Hosp Hand Surgery Ctr	(1,211)	7,976	-15.2%
Palm Beach	West Palm Hospital	(17,890)	73,835	-24.2%
Putnam	Putnam Community Medical Center	(13,317)	53,000	-25.1%
Levy	Regional General Hosp-Williston	(1,666)	3,184	-52.3%
Total 84 General Acute Care For-Profit Hospitals		932,018	11,177,230	8.3%

Clearly, there is a huge range of Operating Income (Loss) Margin Percentages:

• 8 of the 84 had Operating Profit Margins of 20% or higher in 2012
• 15 of the 84 had Operating Profit Margins of 15% or higher in 2012
• 31 of the 84 had Operating Profit Margins of 10% or higher in 2012
• 23 of the 84 had Operating Losses in 2012

But there is much more to this incredible profit story of these Florida General Acute Care Local Governmental Hospitals.

The 2012 Total Operating Income of $932 mil includes a monstrous earnings charge for Total Provisions for Bad Debts of $1.844 bil.  In addition, the 2012 Uncompensated Charity Care Charges Foregone were another huge $1.501 bil.  With the ACA, a significant portion of these 2 items will be eliminated, thereby markedly increasing the Patient Service Fee Income and thus also the Income of every Florida Hospital.  And if Florida were to fully expand Medicaid, a huge portion of these 2 items will be eliminated, thereby very substantially increasing the Patient Service Fee Income and also the Income of nearly every Florida Hospital.

Yeah, I think it is time for these Florida General Acute Care For-Profit Hospitals to patriotically step up by removing a good chunk of their excessive profits by reducing their very steep Patient Service Fee Charges and also negotiating more fairly with Health Insurance Companies.  This responsible action will result in substantially reduced health insurance premiums as well as an additional substantial reduction in the annual growth rate of Total US Health Care Costs.

































More details to come.