One of the largest nonprofit health systems in Florida, BayCare, grew operating revenue 14% last year, to more than $6 billion.
Clearwater-based BayCare Health System, with some 33,000 employees, posted $6.27 billion in 2024 operating revenue, according to a statement. That’s up 13.99% from $5.5 billion the previous year. The growth stat was part of the 2024 Report to the Community released by the organization, which has 16 hospitals and hundreds of other locations throughout Tampa Bay and Central Florida regions.
Other highlights of the report include:
- BayCare dedicated $467 million in Community Benefit to “care for uninsured or underinsured patients and to improve the health and well-being of residents in the system’s primary service area of Hillsborough, Pasco, Pinellas and Polk counties,” the release states.
- In 2024, the organization broke ground for what it’s calling the region’s first proton therapy center.
- It opened a replacement South Florida Baptist Hospital in Plant City in August.
- It broke ground on a $110 million expansion project at Bartow Regional Medical Center in November.
- Announced construction plans for a new hospital in north Manatee County. Expected to open in 2028, it will be the first nonprofit hospital in Manatee.
- Announced a $50 million gift from Tampa’s Pagidipati family to support the construction of a new facility for St. Joseph’s Children’s Hospital, which will be called the Pagidipati Children’s Hospital at St. Joseph’s.
- Continued rapid expansion of its Graduate Medical Education programs. Three new GME programs BayCare received accreditation for in 2024 are now part of its 16 GME programs that will train nearly 300 physicians in fall 2025, the organization says.
- The organization transitioned from the joint operating agreement that created the health system in 1997 to a single corporate entity, the release states. BayCare also received approval for $1.9 billion in tax-exempt bonds to finance investments to serve the region’s health, from new construction to key technological investments.
- BayCare was named to four top places to work list in 2024, locally and nationally, including the Fortune Best Workplaces in Health Care and Fortune Best Workplaces for Women and the Tampa Bay Times Top Workplace. BayCare, officials say, supported its growing workforce of nearly 33,000 in 2024 by investing $855 million in benefits, career development and rewards and recognition.
BayCare’s 2024 Report to the Community covers activity from Jan. 1, 2024 to Dec. 31, 2024.
