HMA Investment Helps Bayfront, City
This is a time of great change in healthcare – including the consolidation of hospitals and health systems throughout the country – and Bayfront Health St. Petersburg has been part of it by joining a new parent company, as was noted in (the article that mentioned) a recent business column in the Tampa Bay Times.
Unfortunately, the column failed to note the direct benefits of new ownership to the community. In the nine months since the ownership change, we have invested more than $20 million into a facility that had been capital-starved. That includes $7.5 million for equipment in surgical services and $1.5 million for a new MRI machine. This is just part of $100 million in capital that our new owners committed to invest in Bayfront over five years.
With our new resources, we also have been able to offer merit raises and market-based compensation adjustments to employees, which will help improve the stability of our workforce.
In addition, we have established a network with six other hospitals that is making the advanced care facilities at Bayfront more accessible to patients in the region.
Local government is benefiting as well since Bayfront will now be paying property and sales taxes for the first time, strengthening the city’s ability to provide important services to the community. In addition, the hospital now has the resources to participate more fully in the life of the community with sponsorships and memberships in civic organizations.
So, the commitments that our parent company has made to both Bayfront and the community have been honored and will continue as promised. And while corporate structures may change, one thing has remained and will remain consistent at Bayfront – the dedication of the physicians, associates and volunteers at our hospital to providing excellent care to our patients in the communities we live in and serve.
CEO, Bayfront Health St. Petersburg