BayCare operating revenue, income drop
August 11, 2020 - BayCare Health System reported $94.3 million in operating income for the six months ended June 30, a 39 percent drop from the $154.7 million in operating income the Clearwater-based healthcare provider reported a year ago. Total operating revenue for the first half of 2020 was $2.09 billion, down 3 percent from total operating revenue of $2.15 billion in the first half of 2019, according to a financial report for bondholders. Hospital discharges — a measure of patients who leave the hospital after receiving care — were down 18 percent, with 73,737 discharges in the first half of 2020 compared to 89,976 in the same period in the prior year. BayCare and other hospital systems could not perform elective surgical procedures for several weeks during the first half of the year under a state order designed to ensure the hospitals had capacity to care for Covid-19 patients. BayCare voluntarily suspended some elective procedures in July, but has since resumed performing them. BayCare also disclosed to bondholders that it received an additional $10.5 million in CARES Act funding in July, in addition to the $102.8 million from the CARES Act that it received as of June 30.