Orlando Health rating outlook is improving

Rating agency Moody’s has changed

A2 rating outlook from stable to positive, citing “very good financial performance,” which has strengthened the nonprofit health system’s liquidity.

“We’re very proud of the change in outlook,” said John Miller, vice president of finance at Orlando Health. “It’s almost like an upgrade. It’s a testament to what our team has done in the past few years.”

In 2013, Moody’s downgraded the health system’s rating from A2 to A3 with a negative outlook.

In 2016, Orlando Health had 210 days cash on hand compared with 142 days in 2013. The health system’s operating revenue also increased from $1.9 million in 2013 to $2.5 million in 2016. Its unrestricted cash and investments grew to $1.2 billion in 2016, up from $1 billion in 2015.

Orlando Health is working on closing a transaction to merge with Lakeland Regional Health Systems. The deal is expected to be finalized by October and could make Orlando Health the second-largest system in Florida, according to Moody’s Investors Service.

Meanwhile, Orlando Health Foundation has started reaching out to key supporters to make a case for expanding the ER and Level 1 Trauma Center on its main campus. The discussions are at a very preliminary stage, hospital officials said.

With the outlook change, Orlando Health bucks the industry’s overall outlook this year, which is considered stable, given the uncertain future of health care.

Moody’s issued a statement this week, after Senate Republicans unveiled their health-care bill, expressing concern about the impact of the bill on for-profit and nonprofit hospitals. It said, in part, that the proposed changes to Medicaid would “reduce the number of people with insurance and increase hospitals’ exposure to bad debt and uncompensated care costs.”

is implementing an accountable care program in collaboration with

a network of Central Florida physicians. This is Florida Blue’s 27th ACO in Florida. “Our goal is to reduce hospital readmissions, eliminate unnecessary emergency room visits and end duplication of services,” said Dr. Shazia Nasir, Primary Partners board chair, in a news release.

has 35 open positions at its Lake Mary call center. The jobs give employees the option for three months paid leave during the summer. The insurance company, which is participating in the 2018 federal exchange, is hiring for 280 open positions statewide.

received a $10,000 award from FamilyWize, a drugdiscount organization. The association was chosen by the community as the winner of FamilyWize’s “Healthy You, Happy Orlando” campaign.

which offers addiction treatment for men and is based in Edgewater, has been accredited by the Better Business Bureau.

an Orlando-based biopharma device training company, has hired two new executives and is planning to increase its staff by 20 percent. It’s also expanding its office space downtown by 5,400 square feet, a nearly 70 percent increase, according to the company.