According to the report, Baptist Health system in Miami lost $71.7 million in its 2008 fiscal year. Miami Children’s Hospital lost $72 million, Holy Cross Hospital in Ft. Lauderdale lost $25 million and Mercy Hospital in Miami lost $34.8 million, all in the same period.
In addition to investment losses, other hospitals in the area report increases in uninsured patients, which further strain the hospitals’ finances.
Public hospital districts, such as Miami-Dade’s Jackson Health System, which depend on property taxes, are also experiencing reductions in funding as housing prices fall.
Read the Miami Herald’s report on the Florida hospital investment declines.
