Lee Memorial CFO Mike German said the earnings were $5 million more than they had budgeted for, according to the report. However, cuts in Medicare and Medicaid reimbursements are expected to dampen hospital finances, particularly in the 2013 budget.
The health system’s investment portfolio, which saw a 1.4 percent return on the investment, was worth approximately $458 million at the end of FY 2011.
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