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Community Impact and Growth in 2024 by BayCare Health System

BayCare Health System, a prominent not-for-profit healthcare provider in West Central Florida, has unveiled its 2024 Report to the Community, showcasing an impressive expansion and significant contributions to community well-being. This report underscores the organization’s commitment to delivering high-quality healthcare and its unwavering support during critical times, including natural disasters.

Financial Overview and Operational Growth

In 2024, BayCare's operating revenue soared to approximately $6.27 billion, marking an increase from the previous year's $5.5 billion. This rise not only reflects the health system's growth but also its improving reputation as a top employer in the region. The report highlights how BayCare has consistently ranked higher in various employment indices, well-recognized for its dedication to the workforce, which grew to nearly 33,000 employees in 2024.

Commitment to Community Services

BayCare's commitment to the local communities has never wavered. In 2024, the system invested $467 million in community benefits aimed at serving uninsured or underinsured individuals. This included vital healthcare services and support for crucial community organizations. In light of the recent hurricanes, BayCare also supported emergency food distribution initiatives and contributed $300,000 to hurricane relief efforts through established partners like Feeding Tampa Bay.

Moreover, BayCare is leading the way in cancer care innovation with the groundbreaking of the region's first proton therapy center, which promises to enhance cancer treatment options significantly. This reflects BayCare’s relentless focus on expanding its service capabilities to meet the growing health needs of the population.

Expanding Facilities and Services

Several key projects demonstrate BayCare's commitment to enhancing healthcare infrastructure. These include the replacement of South Florida Baptist Hospital in Plant City and a $110 million expansion project at Bartow Regional Medical Center. Additionally, plans for a new hospital in north Manatee County, the region's first not-for-profit hospital, indicate the ongoing dedication to community health services.

BayCare’s philanthropic initiatives further underscore its commitment to pediatric care, highlighted by a transformative $50 million gift from the Pagidipati family to create the Pagidipati Children's Hospital at St. Joseph's, ensuring high-quality care for children in the region for years to come.

Graduate Medical Education and Clinical Institutes

BayCare's investment in education continues with the rapid growth of its Graduate Medical Education (GME) programs. With three new accredited programs in 2024, BayCare aims to train nearly 300 physicians by fall 2025, with a potential expansion to 650 residents by 2029. This initiative not only addresses immediate healthcare needs but also prepares for future demands in medical staffing.

In an innovative move to streamline patient care, BayCare has established six Clinical Institutes which promise to enhance access and improve the organization of clinical services. This restructuring is expected to make navigating healthcare more straightforward for patients while expanding service offerings to the community.

Resilience in the Face of Challenges

Despite facing the dual challenges of Hurricanes Helene and Milton in 2024, BayCare demonstrated resilience and a continued commitment to patient-centered care. President and CEO Stephanie Conners emphasized the organization’s dedication to ensuring access to essential healthcare, illustrating BayCare’s adaptability and community-driven approach amidst crises.

The company also transitioned from its original joint operating agreement to a singular corporate entity, reinforcing its locally-managed, not-for-profit status for future generations in the region. Furthermore, the approval of $1.9 billion in tax-exempt bonds will facilitate ongoing investment in healthcare infrastructure and technology upgrades across the region.

Recognizing Excellence and Workforce Development

BayCare's commitment to clinical excellence is evident through its participation in nearly 500 health research initiatives, providing patients access to groundbreaking treatments. The organization has earned accolades for its clinical outcomes and patient safety, including multiple Press Ganey Human Experience Awards as recognition for extraordinary patient experiences.

Ranking within the top employers in healthcare, BayCare was featured on the PEOPLE® Companies that Care list and recognized by Fortune as one of the Best Workplaces in Health Care. The health system continues to prioritize workforce development, investing $855 million in workforce benefits and recognition programs.

In summary, BayCare Health System's 2024 Report to the Community highlights not only its financial growth and service expansion but also its unwavering commitment to the wellbeing of the communities it serves. From innovative clinical services to essential community support, BayCare is setting a high standard for healthcare systems nationwide.

For more comprehensive insights, the full report is accessible at baycare.org/annual-report.