WMFE is Central Florida's primary provider of NPR programming on 90.7 FM and Classical Music on 90.7 HD2. Part of the community since 1965, WMFE focuses on providing quality national and local news and programming. We inspire and empower all Central Floridians to discover, grow and engage within and beyond their world.
CLOSEOpt Out: I already like WMFE!

Like us on Facebook!

Support for 90.7 WMFE is provided by

C. Fla. Hospital Profits Near $1 Billion in 2016

Profits at Central Florida hospitals neared the $1 billion dollar mark in 2016, according to a report published this month. (Photo via Google Maps)

 

Profits at Central Florida hospitals neared the $1 billion dollar mark in 2016, according to a report published this month.

According to the Florida Health Market Review of 2017, Orlando-area hospitals posted a combined profit of more than $986 million last year, a 23 percent increase from two years before. Allan Baumgarten, the report’s author, sad the profits are resulting in a building boom.

Hospitals are buying land in areas with good population growth and high income.

“And begins by building a freestanding emergency department or medical office building, and if the population continues to grow and the patients continue to come, maybe they’ll build a small hospital on the site,” Baumgarten said. “So there’s a lot of capital investment happening right now in Central Florida.”

Another place where hospitals are investing? Name brand cancer care.

Florida already has big names with the Sylverster Cancer Center in Miami and Moffit Cancer Center in Tampa. But 2017 saw Memorial Sloan Kettering open a cancer center in Miami, and MD Anderson open in Jacksonville.

“There’s an anticipation that given the population demographics of the state, that there’s a lot of demand and a growing demand for cancer care,” Baumgarten said. “And these large, name brand companies from around the country are partnering with local hospital systems to get a piece of that.”

Still, four Central Florida hospitals lost money in 2016. Wuesthoff Medical Center, Nemours Children’s Hospital, Parrish Medical Center and Sebastian River Hospital lost a combined $74.8 million dollars.

And a recent Moody’s report has given the nonprofit hospital system overall a negative outlook, in part because of possible changes to the Affordable Care Act. Florida has gone from about 17 percent of the population without insurance to about 12 percent.

“The expansion of coverage has reduced the number of uninsured patients entering hospitals and has improved revenues of those hospitals, and much of that could be lost if there were changes to the affordable care act,” Baumgarten said.


WMFE is a partner with Health News Florida, a statewide collaborative reporting on health care.

Health reporting on WMFE is supported in part by AdventHealth.

Sign Up For 90.7 WMFE's Newsletter

Catch up on the latest Central Florida news and get updates on programs, events and more.

SUBSCRIBE

WMFE Journalistic Ethics Code | Public Media Code of Integrity

Abe Aboraya

About Abe Aboraya

Health Reporter

Abe Aboraya started writing for newspapers in High School. After graduating from the University of Central Florida in 2007, he spent a year traveling and working as a freelance reporter for the Seattle Times and the Seattle Weekly, and working for local news websites in the San Francisco Bay area. Most recently Abe ... Read Full Bio »

TOP