Clearwater, Fla.-based BayCare Health System saw an operating income of $603.4 million (9.6% margin) for the year ended Dec. 31, 2024, up from a $330.1 million operating gain (6% margin) in 2023, according to its most recent financial report.
BayCare’s total revenue increased 13.8% year over year from $5.5 billion to $6.3 billion. The health system’s total expenses rose 9.4% from $5.2 billion to $5.7 billion in 2024.
Net income for BayCare was $1.2 billion in 2024, up slightly from $1.1 billion in 2023. Its long-term debt was $2.6 billion on Dec. 31, 2024.
BayCare also restructured its governance and paid $4 billion to Livonia, Mich.-based Trinity Health as part of a June 2024 dissolution of the two parties’ longstanding joint operating agreement. It resulted in a $2.78 billion net assets decrease without donor restrictions.
