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.
