N.C. – May 14, 2018 – Wake Forest
Baptist Medical Center today reported that it provided community benefits − charity care,
unreimbursed care, education, research and community outreach programs and
services − valued at $373.9 million for the fiscal year ending June 30, 2017.
This is $4.2 million less
than last year, which was a record high at $378.1 million, and represents a one
percent decrease, year over year.
“A great academic medical
center heals with its heart as well as its skill and its science,” said Julie
Ann Freischlag, M.D., CEO, Wake Forest Baptist Medical Center and dean, Wake
Forest School of Medicine. “We seek to make a difference where the problems of
our patients and our neighbors are most challenging.
“Whether it’s our medical
students who help young children feel less anxious around doctors or about
getting a shot, our Downtown Health Plaza patient navigators who make sure patients
receive needed resources so paying a bill or buying food is not a choice, or
our chaplains who are embedded with local and county first-responders and counsel
those who attend and experience crises situations,” said Freischlag, “we are
there for those who need us.”
Unreimbursed care. Wake
Forest Baptist provided $199.2 million in estimated unreimbursed care in FY17,
an $11.2 million increase over the previous year. This increase is primarily
due to significant increases in the non-reimbursed costs of treating patients
covered by Medicare, Medicaid and other governmental programs as well as a
decrease in payments from other governmental health care programs.
Charity care. Wake Forest Baptist provided $56.9 million in charity care
in FY17, a $16.9 million decrease over the previous year. This was largely due
to improvements in qualifying patients for other programs and health care
Education and research. In FY17, Wake Forest Baptist provided $108.6
million in education funding for medical students and other health care professionals
and in research funding not covered by outside sources. This funding is an increase
of approximately $1.2 million compared to the prior year.
Community health improvement. Last
fiscal year Wake ForestBaptist provided $6.8 million in
community health initiatives, operations and donations, including our Faith
Health initiatives and programs and our physician community health access
programs. An additional $2.4 million was
spent to subsidize our Downtown Health Plaza programs for a total of $9.2
million, which is $200,000 more than the previous year and primarily due to
increased community contributions.
Wake Forest Baptist reports
its community benefits annually as required by the North Carolina Medical Care
Commission, an agency of the North Carolina Department of Health and Human
Services’ Division of Health Service Regulation.
The Commission does not require
information about bad debt incurred through uncollected fees for services
performed. In FY17, Wake Forest Baptist had $48.5 million in bad debt costs.