Mount Sinai Medical Center Achieves Positive Net Income for the Fourth Consecutive Year

Apr 02, 2013, 15:18 ET from Mount Sinai Medical Center

MIAMI BEACH, Fla., April 2, 2013 /PRNewswire-USNewswire/ -- For the fourth year in a row, Mount Sinai Medical Center's mission-driven operations have brought positive earnings and reinforced the medical center's strong image as a healthcare leader and community resource. Mount Sinai's 2012 net revenues were $497.1 million in 2012, up from $484.9 million in the prior year, representing a 2.5 percent increase. This is due to an increase in cardiac-related procedures, outpatient surgical volume and emergency department visits on the hospital's Miami Beach and Aventura campuses.

The Mount Sinai Heart Institute, a partnership with New York's Columbia University, continued to produce strong cardiac surgical volume by capturing the largest market share of all cardiac surgeries in Miami-Dade, as well as the largest market share of cardiac valve and bypass surgeries in South Florida. In addition, diagnostic cardiac catheterization and angioplasty procedures increased by 6.9 and 12.9 percent, respectively, as compared to the prior year. The Florida Agency for Health Care Administration (AHCA) data shows that Mount Sinai continues to be the area's leader in cardiovascular care. Mount Sinai has the best cardiac surgical outcomes in Florida among adult hospitals that perform more than 600 cases. In addition, Mount Sinai's chief of cardiac surgery, Dr. Joseph Lamelas, performs the most heart valve surgeries in Florida. Mount Sinai also offers patients the best heart attack survival rate in the state, according to the Centers for Medicare & Medicaid Services (CMS) Hospital Compare data.

Mount Sinai's emergency room visits increased by 5.1 percent, or 3,091 visits, as compared to the prior year, driven by the freestanding emergency room in Aventura, which showed a 5.8 percent increase in visits. The Miami Beach campus' emergency room showed a 4.9 percent increase in visits. Additionally, Mount Sinai's satellite facilities in Hialeah, Coral Gables and Key Biscayne experienced continued outpatient growth. Mount Sinai Hialeah and Mount Sinai Key Biscayne experienced a 77 and 18 percent growth, respectively, from the prior year.

The Mount Sinai Comprehensive Cancer Center is the only oncology program in Florida to receive the American College of Surgeons Commission on Cancer (CoC) Outstanding Achievement Award three consecutive times. Mount Sinai was also the first hospital in South Florida to receive accreditation in radiation oncology by the American College of Radiology (ACR) and The American Society for Radiation Oncology (ASTRO). The ACR-ASTRO seal of accreditation represents the highest level of quality and patient safety. Fewer than 10 percent of radiation oncology programs nation-wide are accredited.

The medical center continues to be a leader in lifesaving research and remains committed to its teaching program, training more than 166 residents and fellows in 19 medical specialties. Mount Sinai also serves as the training ground for 342 allied health students and 577 student nurses.

Consistent with its mission, Mount Sinai provided more than $119 million in charitable services and uncompensated care that was not reimbursed through traditional safety net programs in 2012, compared to over $99.6 million in 2011. Mount Sinai remains dedicated to the health and well-being of the South Florida community, which is demonstrated by its ongoing efforts to make healthcare more accessible, while providing the latest treatment options as a world-class healthcare provider.

About Mount Sinai Medical Center

Founded in 1949, Mount Sinai Medical Center is the largest independent, private, not-for-profit teaching hospital in South Florida. Mount Sinai's Centers of Excellence combine technology, research and academic, to provide innovative and comprehensive care in cardiology, neurology, oncology and orthopaedics.  One of a select few statutory teaching hospitals in the state of Florida, Mount Sinai is the hospital of choice for those who seek the level of expertise and care that only a teaching hospital can offer.  The medical center's commitment to quality has garnered prestigious recognition, including ongoing designation as one of America's Top Hospitals by U.S.News & World Report.

Joanna Palmer
Public Relations Manager

SOURCE Mount Sinai Medical Center