SUBJECT
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Public Hearing to consider adoption of an amended Assessment Resolution and Non-Ad Valorem Assessment Roll pursuant to Ord. 2022-029, as amended, the Polk County Local Provider Participation Fund Ordinance.
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DESCRIPTION
On September 3, 2024, the Board adopted Resolution 2024-157 to set the 2024 assessment rate for collection of the Polk County Local Provider Participation Fund (LPPF) annual special assessment from the six area hospitals subject to the special assessment.
Subsequent to the adoption of Resolution 2024-157, the State of Florida Agency for Health Care Administration (AHCA) approved Lakeland Regional Medical Center (LRMC) as a statutory teaching hospital, based on the hospital's seven accredited residency programs and 100 residents engaged in such programs. This designation by AHCA moves LRMC from Tier 1 to Tier 3 in the Low-Income Pool (LIP) funding model, enabling the hospital to net an estimated additional $9M in LIP funds through the LPPF program.
In order to receive the additional funding, the assessment rate set forth in Section 5 of Resolution 2024-157 must be revised, and the amended rate adopted, to impose and collect the LPPF special assessment from all six hospitals in the aggregate amount required to generate sufficient revenue to fund the non-federal share of payments under the LPPF program. The proposed, amended rate of collection for the special assessment is 3.35% of net inpatient revenue excluding Medicare and 9.90% of net outpatient revenue excluding Medicare for each assessed property. This will result in a total assessment amount of $76,873,824, to be collected from all six hospitals, cumulatively. Under Resolution 2024-157, which will be superseded and replaced by this amended Assessment Resolution, the total amount to be collected from all six hospitals was $69,903,127, cumulatively. As a result, a budget resolution is necessary to account for the unanticipated funds which will be temporarily held b...
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