Top Florida Hospitals by Revenue

Posted on by Karen Braddy 5 mins read

We’ve ranked Florida hospitals by beds in service and Acute Inpatient days. We’ve looked at how many doctors are training at these hospitals. Now, let’s turn our focus on how things are working out for them financially.

Gross Revenue

# Hospital City Cost Report Year Gross Revenue
1 ADVENTHEALTH ORLANDO ORLANDO 12/31/2018 18,165,610,941
2 ORLANDO HEALTH ORLANDO 09/30/2018 11,828,934,167
3 TAMPA GENERAL HOSPITAL TAMPA 09/30/2018 6,913,901,110
4 MEMORIAL REGIONAL HOSPITAL HOLLYWOOD 04/30/2018 6,123,102,145
5 JACKSON MEMORIAL MIAMI 09/30/2018 5,536,419,964
6 JFK MEDICAL CENTER ATLANTIS 06/30/2018 5,412,701,414
7 BAPTIST MEDICAL CENTER JACKSONVILLE 09/30/2018 5,366,851,957
8 ST. JOSEPHS HOSPITAL TAMPA 12/31/2018 5,173,652,832
9 UF HEALTH SHANDS GAINESVILLE 06/30/2018 5,034,824,555
10 BAPTIST HOSPITAL MIAMI 09/30/2018 4,986,909,363
11 NORTH FLORIDA REGIONAL MED CTR GAINESVILLE 02/28/2019 4,696,860,780
12 LEE MEMORIAL HOSPITAL FORT MYERS 09/30/2018 4,307,179,899
13 SARASOTA MEMORIAL HOSPITAL SARASOTA 09/30/2018 4,211,510,437
14 KENDALL REGIONAL MEDICAL CENTER MIAMI 12/31/2018 4,114,556,017
15 LAKELAND REGIONAL MED CTR LAKELAND 09/30/2018 4,063,723,459

Memorial Regional Hospital is 7th for beds and 8th for Inpatient Days, but is 4th for revenue. That’s interesting.

Net Revenue

Hospitals determine their own charge structure. I’m sure it’s really complex and they don’t just assign a number out of thin air, but it’s definitely not dictated by the government.

However, contracts are made with insurance companies to pay a specific amount for a procedure. So, the hospital may charge $5k to pull the splinter out of your hand, but the insurance may have a contract stating they’ll give them $50. So, $5K is their gross revenue, but $50 is their net revenue. The difference between the two numbers is a contractual allowance or a revenue deduction.

# Hospital City Gross Revenue Net Revenue
1 ADVENTHEALTH ORLANDO ORLANDO 18,165,610,941 3,769,768,374
2 ORLANDO HEALTH ORLANDO 11,828,934,167 2,319,178,866
3 TAMPA GENERAL HOSPITAL TAMPA 6,913,901,110 1,275,954,110
4 MEMORIAL REGIONAL HOSPITAL HOLLYWOOD 6,123,102,145 1,028,022,586
5 JACKSON MEMORIAL MIAMI 5,536,419,964 1,166,828,685
6 JFK MEDICAL CENTER ATLANTIS 5,412,701,414 599,622,690
7 BAPTIST MEDICAL CENTER JACKSONVILLE 5,366,851,957 1,208,867,957
8 ST. JOSEPHS HOSPITAL TAMPA 5,173,652,832 1,271,356,853
9 UF HEALTH SHANDS GAINESVILLE 5,034,824,555 1,458,878,312
10 BAPTIST HOSPITAL MIAMI 4,986,909,363 1,169,374,085
11 NORTH FLORIDA REGIONAL MED CTR GAINESVILLE 4,696,860,780 515,197,254
12 LEE MEMORIAL HOSPITAL FORT MYERS 4,307,179,899 941,178,273
13 SARASOTA MEMORIAL HOSPITAL SARASOTA 4,211,510,437 788,693,854
14 KENDALL REGIONAL MEDICAL CENTER MIAMI 4,114,556,017 479,052,823
15 LAKELAND REGIONAL MED CTR LAKELAND 4,063,723,459 704,534,908

What’s going on a JFK Medical Center? Looks like they have a significant amount of revenue deductions. Now, there are other types of revenue deductions other than contractual allowances. Charity and bad debts are also deductions to revenue. Could be anything. Without seeing a General Ledger, I’d just be guessing.

Let’s take a look at what percentage is net revenue as compared to revenue. Basically, what percent of revenue remains.

# Hospital Gross Revenue Net Revenue Net Rev/Rev
1 ADVENTHEALTH ORLANDO 18,165,610,941 3,769,768,374 21%
2 ORLANDO HEALTH 11,828,934,167 2,319,178,866 20%
3 TAMPA GENERAL HOSPITAL 6,913,901,110 1,275,954,110 18%
4 MEMORIAL REGIONAL HOSPITAL 6,123,102,145 1,028,022,586 17%
5 JACKSON MEMORIAL 5,536,419,964 1,166,828,685 21%
6 JFK MEDICAL CENTER 5,412,701,414 599,622,690 11%
7 BAPTIST MEDICAL CENTER 5,366,851,957 1,208,867,957 23%
8 ST. JOSEPHS HOSPITAL 5,173,652,832 1,271,356,853 25%
9 UF HEALTH SHANDS 5,034,824,555 1,458,878,312 29%
10 BAPTIST HOSPITAL 4,986,909,363 1,169,374,085 23%
11 NORTH FLORIDA REGIONAL MED CTR 4,696,860,780 515,197,254 11%
12 LEE MEMORIAL HOSPITAL 4,307,179,899 941,178,273 22%
13 SARASOTA MEMORIAL HOSPITAL 4,211,510,437 788,693,854 19%
14 KENDALL REGIONAL MEDICAL CENTER 4,114,556,017 479,052,823 12%
15 LAKELAND REGIONAL MED CTR 4,063,723,459 704,534,908 17%

For this data set, the average net revenue to revenue percentage is 19%. This means that on average, revenue is netted down 81% by revenue deductions. That’s a pretty significant hit.

Net Patient Income

We’ve look at net revenue. If you remove expenses, you can get an idea of the hospital’s Net Patient Income. Keep in mind, the hospital usually has non-patient income generated when they charge you to park or charge you to get a copy of your medical records. When you add in non-patient revenue, then you get the hospital’s overall net income.

Let’s sort the list one last time to see who comes out on top for Net Patient Income.

# Hospital Gross Revenue Net Patient Income
1 ORLANDO HEALTH 11,828,934,167 601,735,948
2 ADVENTHEALTH ORLANDO 18,165,610,941 453,871,255
3 LEE MEMORIAL HOSPITAL 4,307,179,899 201,433,359
4 ST. JOSEPHS HOSPITAL 5,173,652,832 171,120,847
5 KENDALL REGIONAL MEDICAL CENTER 4,114,556,017 170,750,211
6 BAPTIST HOSPITAL 4,986,909,363 120,419,112
7 NORTH FLORIDA REGIONAL MED CTR 4,696,860,780 119,447,007
8 BAPTIST MEDICAL CENTER 5,366,851,957 112,784,957
9 UF HEALTH SHANDS 5,034,824,555 66,488,650
10 JFK MEDICAL CENTER 5,412,701,414 66,121,766
11 LAKELAND REGIONAL MED CTR 4,063,723,459 46,190,097
12 SARASOTA MEMORIAL HOSPITAL 4,211,510,437 41,749,516
13 TAMPA GENERAL HOSPITAL 6,913,901,110 -50,813,966
14 MEMORIAL REGIONAL HOSPITAL 6,123,102,145 -166,189,188
15 JACKSON MEMORIAL 5,536,419,964 -776,754,921

Lee Memorial has jumped from 12 to 3. And poor Jackson Memorial looks pitiful.

Musing Revelation

As an accountant, it’s always interesting to see how these numbers shake out. The hit going from revenue to net revenue hurts, like a punch to the gut.

Hospitals struggle to stay ahead of continuous change in the industry. It’s feast or famine. Today you could be on top and tomorrow you are hitting rock bottom. In the midst of all this is the patient just trying not to die.