Tampa General Hospital, the largest stand-alone hospital in Florida, posted strong 2014 results for its fiscal year ended Sept. 30 on higher volume and nonoperating gains.
The medical center's operating margin increased to 4.5% (PDF), up from 3.1% in fiscal 2013, and a continued improvement from 0.9% in fiscal 2012.
Discharges from the hospital increased 0.3% year-over-year, but were up 3% when adjusted for outpatient activity.
Tampa General also saw 3.8% more emergency visits, performed 2.1% more surgeries and delivered 1.4% more babies in fiscal 2014 than it did the prior year.
Revenue increased 5.9%, and the hospital also managed to slow the growth of its expenses. As a result, it reported a 2014 operating surplus of $48.9 million on revenue of nearly $1.1 billion, compared with a 2013 operating surplus of $31.4 million on $1 billion in revenue.
When accounting for nonoperating activity, the hospital's total surplus was $91.8 million, compared with the prior year's $46.4 million.
Tampa General operates in a competitive market but has tried to expand its footprint through partnerships after a failed acquisition attempt in 2013. The city of Tampa also has benefited from a stronger economy, prompting Standard & Poor's last month to upgrade the city's credit rating to AAA, the highest level.
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