Shands is a not-for-profit organization. This means that the net revenues we generate are reinvested back into our health care system to ultimately benefit the patients and communities we serve.
An example: For the fiscal year that ended June 30, 2012, Shands provided unsponsored community benefits at costs totaling $105M. These include financial assistance, community health services, health professions education, research and donations.
Audited Financial Statements
Our audited financial statements represent the consolidated financial results for all subsidiaries within the Shands system:
- UF Health Shands Hospital
- UF Health Shands Psychiatric Hospital
- UF Health Shands Rehab Hospital
- Shands HomeCare
- Property Management
- Elder Care of Alachua County, Inc.
- Southeastern HealthCare Foundation, Inc.
Shands also owns a minority interest in three rural community hospitals in Lake City, Live Oak and Starke through a joint venture with Health Management Associates.
- Shands Lake Shore Regional Medical Center
- Shands Live Oak Regional Medical Center
- Shands Starke Regional Medical Center
These reports contain valuable facts and figures about Shands. One of our goals is to continue to strengthen the health system's financial performance to support our mission of providing quality patient care, training tomorrow's caregivers, fielding new discoveries and improving community health.
While teaching hospitals and health systems around the country continue to wrestle with negative operating margins, Shands has managed to maintain a sound financial position.