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Baptist Health South Florida doubles profit in fiscal 2010

South Florida Business Journal, January 5, 2011

Baptist Health South Florida more than doubled its income in fiscal year 2010 as its hospitals attracted more patients. The nonprofit hospital system had net income of $271.9 million on revenue of $2.18 billion in the fiscal year ended Sept. 30, according to its report to bondholders. That's up from net income of $131.3 million on revenue of $2.07 billion in the prior year. Baptist Health's revenue climbed as a result of increased admissions, emergency room visits, urgent care visits and surgeries at its five hospitals. However, its outpatient services arm performed fewer procedures. The biggest improvement in its results came from the performance of its investment portfolio, which generated $134.1 million in 2010, up from $1.1 million in 2009.