For the first nine months of the 2011 fiscal year, BayCare Health System, based in Clearwater, Fla., reported operating income of $106 million, up 16.6 percent from the $90.9 million in operating income it recorded for the same period in 2010, according to a Tampa Bay Business Journal report.
BayCare, which operates 10 acute-care hospitals in the Tampa Bay, St. Petersburg and Clearwater areas, also reported its total operating revenue for the first nine months of 2011 was $1.8 billion, compared with $1.7 billion for the same period in 2010, according to the report.
The health system's investment portfolio did not see similar results, though, as BayCare posted a net loss of $93.8 million in non-operating revenue for the ninth months ended Sept. 30, 2011. CFO Tommy Inzina said the decline resulted from "a downturn in the financial markets in August and September," according to the report.
BayCare, which operates 10 acute-care hospitals in the Tampa Bay, St. Petersburg and Clearwater areas, also reported its total operating revenue for the first nine months of 2011 was $1.8 billion, compared with $1.7 billion for the same period in 2010, according to the report.
The health system's investment portfolio did not see similar results, though, as BayCare posted a net loss of $93.8 million in non-operating revenue for the ninth months ended Sept. 30, 2011. CFO Tommy Inzina said the decline resulted from "a downturn in the financial markets in August and September," according to the report.
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