The multi-modal two-step floating catchment area (MM-2SFCA) method is an extension of the two-step floating catchment area (2SFCA) method that incorporates the impact of different transportation modes, thereby facilitating more accurate calculations of the spatial accessibility of public facilities in urban areas. However, the MM-2SFCA method does not account for the impact of distance within the search radius on supply–demand capacities, and it assumes an idealized supply–demand relationship. This paper introduces the gravity model into the MM-2SFCA method, proposing a multi-modal gravity-based 2SFCA (MM-G2SFCA) method to better account for distance decay and supply–demand relationships. Furthermore, a standardized gravity model is proposed based on the traditional gravity model. This model imposes constraints on upper and lower limits for distance decay weights without compromising the fundamental curve characteristics of the gravity model, thereby avoiding extreme weight scenarios. The accessibility of public hospitals in Shenzhen is evaluated through the integration of basic geographic information data, resident travel data, and official statistical data. The findings demonstrate that the standardized gravity model effectively addresses the issue of excessively high local distance weights in the traditional gravity model, making it more suitable as a distance decay function. The MM-G2SFCA method improves the consideration of distance and supply–demand relationships, thereby facilitating a more rational distribution of accessibility on a global scale. This study discovers differences in the spatial allocation of public hospital resources across the Shenzhen’s districts. Accessibility within the metropolitan core is significantly higher than that outside the core. Additionally, there is a notable difference in the level of accessibility among the districts. Accessibility is found to be better in district centers and along the main traffic arteries.