CFO Priscilla Needham told Becker’s that the system “achieved significant financial improvement by implementing a comprehensive strategy focused on operational efficiency and strategic investment.”
“By addressing key cost drivers such as labor and supply expenses, streamlining our capital project priorities and partnering with [Ensemble Health Partners] to enhance our revenue cycle management, we have strengthened our financial foundation while maintaining our commitment to exceptional patient care,” Ms. Needham said.
Tallahassee Memorial reported total operating revenue of $1.07 billion in the fiscal year ended Sept. 30 a 12.4% increase from fiscal 2023. Net patient service revenue reached $1.01 billion, up 1% year over year.
The system reported total operating expenses of $1.06 billion in fiscal 2024, up 7.5% year over year. Salaries, wages and benefit costs totaled $475.78 million, up 3.1% year over year. Supplies and other expenses totaled $386.42 million, up 4.9% year over year.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
