Wake Forest Baptist Provided Record $237.1 Million in Community Benefits During Fiscal Year 2011
WINSTON-SALEM, N.C., – May 11, 2012
– As reported to the North Carolina Medical Care Commission, Wake Forest Baptist Medical Center
invested $237.1 million in programs and activities defined as community benefits during the 2011 fiscal year, July 1, 2010 to June 30, 2011. This significant contribution is a $57.6 million increase or 32 percent over the previous year’s record total and represents 12.7 percent of the total Medical Center’s expenses.
“As Forsyth County’s largest employer and the region’s only academic medical center, every single employee contributes uniquely and significantly to the health and well-being of those locally and regionally,” said John D. McConnell, M.D., chief executive officer of Wake Forest Baptist Medical Center. “The Medical Center’s profound impact takes many forms including community outreach, research, charity care and even our efforts for those in need.”
Of Wake Forest Baptist’s total $237.1 million in community benefits funding, $64 million went toward provision of charity care. Wake Forest Baptist committed an additional $84 million to cover the gap between cost to provide care for Medicare and Medicaid patients and reimbursements from federal and state government for that care. In addition, Wake Forest supported medical education with $50.3 million, funded research with $26.9 million, supported community health outreach with $6.7 million, and allotted $4.5 million for subsidized health programming.
In accordance with the commission’s guidelines, the report did not include $25.6 million in bad debt. This is an increase of $7.4 million from the previous year.
“Although many health care providers provide charity care and health outreach, Wake Forest Baptist delivers additional, significant impact through its extensive community-based programs, research mission and training of tomorrow’s health care professionals, many of whom will practice in the community,” McConnell said.
Additional information about Wake Forest Baptist’s Community Benefits report is available online at http://www.wakehealth.edu/Community-Benefits/
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