Fort Lauderdale, Florida - The North Broward Hospital District's long-term rating has been elevated to an "A-." Additionally, its S&P Global Ratings outlook remains stable for the district that conducts business as Broward Health.
According to a S&P Global Ratings report released Feb. 8, 2022, “the higher rating reflects our view of Broward Health's improved risk management practices, including progress addressing key organizational challenges. The board and management team have demonstrated the commitment to enhancing internal controls, providing necessary transparency, oversight and accountability that is consistent with its peers and industry standards.”
“S&P’s assessment affirms the tremendous work of our leadership team and caregivers to provide advanced care while managing our fiduciary responsibilities,” said Alex Fernandez, senior vice president and chief financial officer of Broward Health. “We shepherded our community through a global pandemic that placed unprecedented stress on our finances, and yet we have emerged stronger.”
The S&P report also recognized Broward Health’s established position in Broward County as “an essential health care provider… The stable outlook reflects our expectation that Broward Health will sustain the organizational improvements,” the report noted.
“The S&P rating and forecast confirm that Broward Health has established exceptional financial stewardship that our community and stakeholders can celebrate,” said Shane Strum, president and CEO of Broward Health. “We are committed to continued fiscal responsibility that will drive revenues and ultimately create greater access to high quality care for all those we serve.”
Broward Health, founded in 1938 and headquartered in Fort Lauderdale, Florida, ranks among the 10 largest public healthcare systems in the United States. Nationally recognized for its focus on high-quality care for the residents of Broward County and beyond, Broward Health boasts five hospitals, two trauma centers, a dynamic academic partnership with Florida Atlantic University, was the county’s first statutory teaching hospital and has an ever-growing graduate medical education program. It includes more than 50 health centers and physician practices covering virtually every healthcare specialty.
Broward Health never stops working toward its mission of Exceptional Care, Extraordinary Compassion and Everyday Excellence. Driven by more than 11,000 talented employees and physicians who deliver care to all patients, regardless of their ability to pay, Broward Health is one of the largest employers in Broward County with an operating budget of $1.6 billion, and annually provides more than $522.6 million of charity and uncompensated care.
For more information about Broward Health, visit BrowardHealth.org.