Tampa (Fla.) General Hospital, one of the largest medical centers in Florida, reported year-over-year growth in operating surplus as the independent behemoth fights to hold onto market share in a competitive region.
The Greater Tampa Bay market is largely dominated by systems. BayCare Health System, part of Catholic Health East/Trinity Health, has the lion's share of the market, but for-profit chains such as HCA and Community Health Systems also make up a significant part of the landscape.
The 1,018-bed Tampa General last year teamed up with Florida Hospital’s Tampa Bay Network to offer joint services and programs, including ambulatory care, post-acute care, rehabilitation facilities, home health and wellness. The goal was to increase its breadth of services and its geographic footprint, while still maintaining its independence.
Tampa General also tried unsuccessfully to buy Citrus Memorial Health System in Inverness, Fla., last summer.
Despite the competition, margins are increasing at the standalone facility, which reported a gain of $27.5 million on revenue of $524.5 million in the first half of its fiscal year, which ends Sept. 30. That surplus was 17.7% higher than the gain of $23.4 million on $509.8 million in revenue it reported during the prior-year period.
Its excess margin improved to 5.3%, from 4.6% in the first half of fiscal 2013.
Like many of its peers, Tampa General witnessed a 1.4% decrease in discharges in the first half of the year, but when adjusted for outpatient activity, the numbers reflected a 1.5% increase in patient volume. The hospital also performed 3.4% more surgeries year-over-year and its case mix index improved 2.4%.
Follow Beth Kutscher on Twitter: @MHbkutscher
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.