Q: Does the Foundation make grants outside of LRMC?
A: No, as per our bylaws, we exist solely to support Lakeland Regional Health Systems which includes the hospital and Lakeland Regional Cancer Center.
Q: What percentage of my gift goes toward charitable programs?
A: Since Foundation expenses are funded through the hospital, 100% of your gift goes toward supporting hospital and cancer center needs.
Q: Can I designate my gift to a particular program?
A: Yes, just clearly articulate on your check or in the reply materials where you would like your gift to be applied.
Q: Do you sell your donor lists?
A: No, The Foundation does not sell donor lists or information.
Q: I would like to have memorial gifts made to the Foundation in lieu of flowers for a funeral. What do I do?
A: Contact the Foundation office (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 LRMC 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.
Q: How do I make a gift in honor or in memory of someone?
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)
Q: Is LRMC a non-profit organization?
A: Yes. And fortunately, our organization runs “in the black” each year due to strong fiscal management. However, unlike a for-profit hospital which pays income to its owners and investors any proceeds earned through LRMC’s operations are reinvested back into our facilities, staffing and equipment. Those earnings allow us to offer a more comprehensive array of services to our patients.
Q: If LRMC needs donations for support, why doesn’t it just raise prices?
A: Healthcare is a government dominated industry. During the last fiscal year, government providers such as Medicare and Medicaid accounted for 64% of LRMC’s gross revenues. Also, for every $1.00 that LRMC 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. LRMC 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.
Q: How does uncompensated care affect the finances?
A: This factor lowers the collection amount. LRMC – like all hospitals – is obligated to accept all patients regardless of their ability to pay. In 2009, LRMC provided more than $494 million in such free care. For those who can pay LRMC 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.
Q: How do I know if I give LRMC money it will go to providing better health care for the community?
A: LRMC and LRMC Foundation has 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, LRMC 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 LRMC Foundation.