Frequently Asked Questions
A: No, as per our bylaws, we exist solely to support Lakeland Regional Health, which includes the Medical Center and Cancer Center.
A: Since Foundation expenses are funded through the Medical Center, 100% of your gift goes toward supporting the Medical Center and Cancer Center needs.
A: Yes, just clearly articulate on your check or in the reply materials where you would like your gift to be applied.
A: No, the Lakeland Regional Health Foundation does not sell donor lists or information.
A: Contact the Foundation office at 863.687.1296 and tell us the name of the deceased and the mailing address/contact person for acknowledgements. In the announcement or obituary, indicate that gifts can be made to the LRH Foundation, PO Box 95448, Lakeland, FL 33804. If you wish to have gifts designated to a particular unit, program or service, please indicate that as well.
A: Any gift can be made in someone’s honor or memory, just be sure to include this information with your gift as well as an address for the Foundation to send a gift acknowledgement to the honoree or his/her family members. (No amounts are disclosed.)
A: Yes. And fortunately, our organization runs “in the black” each year due to strong fiscal management. However, unlike a for-profit hospital that pays income to its owners and investors, any proceeds earned through LRH’s operations are reinvested into our facilities, staffing and equipment. Those earnings allow us to offer a more comprehensive array of services to our patients.
A: Healthcare is a government dominated industry. During the last fiscal year, government providers such as Medicare and Medicaid accounted for 64% of LRH’s gross revenues. Also, for every $1.00 that LRH bills, it only collects $0.28. Low reimbursement rates from the government are the primary reason that collections are so low. Unfortunately, hospitals have to accept the reimbursement rates that the government is willing to pay it. LRH receives more government aid than 95% of all the Florida hospitals, meaning that it is particularly reliant on government aid. This will likely mean that it will be disproportionately impacted by healthcare reform as compared to its Florida peers.
A: This factor lowers the collection amount. LRH – like all hospitals – is obligated to accept all patients regardless of their ability to pay. For those who can pay LRH for care but are not insured, the hospital wants to make sure that it can keep charges to a reasonable level. Therefore, it does not want to raise charges which would primarily impact the uninsured people in the Lakeland community.
A: LRH and LRH Foundation have volunteer boards of community leaders that are committed to being good stewards of the funds and assuring that all gifts are used appropriately and as designated. During the past two fiscal years, LRH has invested more than $61 million in facilities and equipment to make sure it can deliver state-of-the-art healthcare to the City of Lakeland. It intends to make similar investments going forward to make sure it can be at the forefront of medical technology for the Lakeland community.
A copy of the official registration and financial information may be obtained from the division of consumer services by calling toll-free 1.800.435.7352 within the state. Registration does not imply endorsement, approval or recommendation by the state. State #SC-04195. 100% of gifts go directly to the LRH Foundation.