King of Prussia, Pa.-based Universal Health Services recorded $119.8 million of net income in the first quarter of 2013, which was a 7 percent decrease from the same period a year ago.
UHS attributed the dip in profit to stagnant volumes, higher operating expenses, increases in charity care and last year's rural floor settlement with HHS and CMS.
Net revenue for the for-profit hospital operator rose a mild 2.2 percent, from $1.79 billion last year to $1.83 billion in this year's quarter ended March 31.
UHS currently operates 23 acute-care hospitals, with most of its business coming from the behavioral health sector. During the first quarter of 2013, UHS' acute-care hospitals reported a 1.5 percent decrease in same-facility adjusted admissions. Those hospitals also reported an increase of 2.2 percent in net revenue per adjusted admission.
However, UHS' hospital operating margins took a hit — from 19 percent in the first quarter of 2012 to 16 percent this year — but they still remain far above the national average.
UHS attributed the dip in profit to stagnant volumes, higher operating expenses, increases in charity care and last year's rural floor settlement with HHS and CMS.Net revenue for the for-profit hospital operator rose a mild 2.2 percent, from $1.79 billion last year to $1.83 billion in this year's quarter ended March 31.
UHS currently operates 23 acute-care hospitals, with most of its business coming from the behavioral health sector. During the first quarter of 2013, UHS' acute-care hospitals reported a 1.5 percent decrease in same-facility adjusted admissions. Those hospitals also reported an increase of 2.2 percent in net revenue per adjusted admission.
However, UHS' hospital operating margins took a hit — from 19 percent in the first quarter of 2012 to 16 percent this year — but they still remain far above the national average.
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