Terrible, awful, scary and very, very bad
But even worse?
Most Miami-Dade thought leaders, journalists and elected officials would have no idea of their meaning, or importance.
Basically, because their grasp of healthcare finances is probably on par with their understanding of the Large Hadron Collider, or their reptilian brain.
So....
What do the data say?
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UM bought paid $260 million for a fiscally sick hospital when it purchased the Cedars Medical Center from the for profit Hospital Corporation of America (HCA) in December of 2007.
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Since then, the 560-bed hospital's condition has spiraled downward from guarded to critical.
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It's a good thing UM's Med School officials aren't running the U's football team.
Anyhow...
One can only hope UM President Donna Shala was invited to the party HCA threw after UM bought their failing hospital – because it had to have been one hell of a celebration.
Now...
The comparative data below are based on adjusted patient days , which are:
- A standard baseline used throughout the healthcare industry (see below).
- A more understandable and accurate way to track various hospital dollars
and patient volumes that usually run into incomprehensible millions (and even billions).
Oh yes.
For comparison, I've included HCA's 412-bed Kendall hospital (as a poster child
of obscene health care charges and profits) -- plus similar numbers for Jackson's
system as well as those for the average Florida hospital during the past five years.
The Good News?
The Hurricanes kicked the crap out of Virgina last Saturday.
The Bad News?
No one in any position of leadership in Miami-Dade will grasp the profound
importance of any of the data below.
2004 2007 2008
Patient Bed Cedars Now
Occupancy Rate UM Owned
Cedars HCA 61.2% 43.7% 24.5%
Kendall HCA 44.1% 49.3% 49.5%
Jackson System 65.0% 62.3% 63.3%
State 69.5% 58.2% 57.3%
04-08
Adj. Patient change
Days – APD
Cedars HCA 147,138 110,317 61,038 (58.5%)
Kendall HCA 93,923 103,100 104,838 11.6%
Jackson System 463,023 639,385 655,186 41.5%
State 16,481,476 17,274,158 18,856,334 14.4%
Gross Patient
Charges Per APD
Cedars HCA $5,168 $6,589 $7,507 45.3%
Kendall HCA $4,056 $9,352 $10,681 163.3%
Jackson System $3,534 $5,713 $5,929 67.7%
Avg. State $5,360 $6.825 $7,177 33.9%
Net Patient
Revenue Per APD
Cedars HCA $1,381 $1,517 $1,590 15.1%
Kendall HCA $1,276 $1,932 $2,086 63.5%
Jackson System* $1,176* $1,593* $1,766* 50.2%
Avg. State $1,484 $ $1,692 $1,787 20.4%
Operating
Expenses Per APD
Cedars HCA $1,209 $1,579 $1,788 47.9%
Kendall HCA $1,121 $1.724 $1,791 59.7%
Jackson System $1,662 $2,220 $2,330 40.2%
Avg. State $1,493 $1,725 $1,774 18.8%
Bottom Line
Surplus (Loss) Per APD
Cedars HCA $136.34 $7.05 ($186.03) (236.8%)
Kendall HCA $159.49 $166.81 $313.15 96.8%
Jackson System $16.25 $42.06 $140.31 775%
Avg. State $57.23 $98.14 $48.01 (15.8%)
*Excludes Jackson Tax Revenues for Patient Care
APD - Adjusted Patient Days: a standard baseline used throughout
the healthcare industry which includes both inpatient and outpatient
volumes – thus facilitating an accurate comparison of different hospitals,
or hospital groups.
SOURCE: Agency for Health Care Administration
Feel free to email me at johndegroot@live.com
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