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Investment Losses Cited
By Staff Reporters
According to Brian Bandell, of the South Florida Business Journal on May 20 2009, Baptist Health South Florida [BHSF] could not climb out of the red in the fiscal second quarter that ended March 31, 2009. Its investment losses wiped out operating income, according to a report the nonprofit issued to its bondholders.
Investment Losses Nix Operating Income
The Miami-based health care provider lost $24.8 million on operating revenue of $530.2 million in its second quarter. That’s improved from a loss of $26.8 million on operating revenues of $470.2 million in the same quarter of 2008.
Link: http://www.bizjournals.com/southflorida/stories/2009/05/18/daily47.html
Assessment
Perhaps the BHSF CFO and CEO should read Tab 8, Chapter 3 on: Hospital Endowment Fund Management, by J. Wayne Firebaugh, Jr; CPA, CFP® CMP™ in Healthcare Organizations [Financial Management Strategies]?
T.O.C. Link: toc_ho[1]
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Filed under: iMBA, Inc., Investing, Practice Management | Tagged: Baptist Health South Florida, david marcinko, endowment fund, hosptial endownment funds, Wayne Firebaugh, www.healthcarefinancials.com, www.healthdictionaryseries.com | Leave a comment »
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