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Lee Health becoming a private nonprofit hospital.

Liz Freeman | Naples Daily News

What you need to know

Lee Health has crunched financials for staying as a public hospital or becoming a private nonprofit system and found a conversion would bring gains after an initial hit.

The publicly-elected board of the 1,865-bed system with a $3 billion operating budget was briefed Thursday on how some revenue sources as a safety net hospital would be foregone while new financial opportunities would open up.

A 10-year projection starting in 2025 shows Lee Health’s net patient revenue at $34.5 billion if it stays as a public hospital. It would jump to $35.5 billion with the conversion to a private nonprofit. That would be a gain of $1 billion over the 10-year forecast, according to projections by Ben Spence, chief financial officer.

A key short-term loss would be $60 million in supplemental payments that are currently used to support treating uninsured and underinsured patients, according to Spence.

What are the upsides?

Published inGeneral InterestHealthLocal Interest
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