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April 30, 2014 12:00 AM

Tampa General sees growth in highly competitive market

Beth Kutscher
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    Tampa (Fla.) General Hospital

    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

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      • Transformation
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      • Regional News
        • Midwest
        • Northeast
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      • Digital Edition (Web Version)
    • Blogs
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      • Deals
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      • HIMSS 2023
    • Opinion
      • Breaking Bias
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      • From the Editor
    • Events & Awards
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        • Nominate/Eligibility
        • 100 Most Influential People
        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - AI and Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Sponsored Video Series - One on One
      • Sponsored Video Series - Checking In with Dan Peres
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      • Hospital Financials
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