Hospital systems in Florida experienced generally strong profits in 2008 with hospitals in South Florida reporting net income of $160.5 million or 1.7 percent of patient revenues.
This finding, included in Florida Health Market Review 2010, independent analyst Allan Baumgarten's eleventh annual report analyzing organizations and trends in the Florida healthcare market, suggests profits for hospitals in the state are down from 2007. However, the 2008 results were skewed by large losses at a few hospitals such as Miami Children's, Boca Raton Community and Mercy Hospital, recently acquired by HCA, according to the report.
Six years of strong hospital margins have made possible construction projects at hospitals throughout the state, which has increased inpatient capacity. However, the number of inpatient days in South Florida hospitals dropped by about 2 percent in 2008, likely due to patients deferring care due to the general economic climate.
The report also found that Florida HMOs earned strong profits on their Medicare plans in 2009 with a net income of $574.1 million, or 3.1 percent of premium revenues, as a group. Employer group plans were less profitable in recent years due to medical expense increases of 8 percent.
Other findings include Medicaid enrollment within the state increased by 20 percent in 2009.
To read experts from the report and for information about ordering the full review, click here.
This finding, included in Florida Health Market Review 2010, independent analyst Allan Baumgarten's eleventh annual report analyzing organizations and trends in the Florida healthcare market, suggests profits for hospitals in the state are down from 2007. However, the 2008 results were skewed by large losses at a few hospitals such as Miami Children's, Boca Raton Community and Mercy Hospital, recently acquired by HCA, according to the report.
Six years of strong hospital margins have made possible construction projects at hospitals throughout the state, which has increased inpatient capacity. However, the number of inpatient days in South Florida hospitals dropped by about 2 percent in 2008, likely due to patients deferring care due to the general economic climate.
The report also found that Florida HMOs earned strong profits on their Medicare plans in 2009 with a net income of $574.1 million, or 3.1 percent of premium revenues, as a group. Employer group plans were less profitable in recent years due to medical expense increases of 8 percent.
Other findings include Medicaid enrollment within the state increased by 20 percent in 2009.
To read experts from the report and for information about ordering the full review, click here.