BayCare surplus shrinks in 2020
April 6, 2021 - BayCare Health System, the largest nonprofit healthcare provider in the Tampa-St. Petersburg area, reported a dip in operating revenue and operating income in 2020. The Clearwater-based organization had $4.409 billion in operating revenue last year, down less than 1 percent from $4.418 billion in 2019, according to newly released audited financial statements. Operating income for 2020 was $320.4 million, about 15 percent lower than operating income of $379.2 million in 2019. BayCare’s total surplus, including non-operating income from investments, was $945.3 million in 2020, compared to $1.14 billion in 2019. The Covid-19 pandemic and resulting cancellations and postponements of elective surgeries and non-urgent ambulatory visits led to a significant reduction in patient volumes, while the cost of supplies went up due to shortages, delays and price increases, the financial report said. BayCare includes 15 area hospitals, including St. Anthony’s Hospital in St. Petersburg, and hundreds of other health care sites.