Eight of the largest for-profit hospital operators reported quarterly earnings over the past month. Six of the eight companies recorded fourth-quarter and year-end earnings for fiscal year 2012. Vanguard Health Systems posted second-quarter results for FY 2013, and IASIS Healthcare posted first-quarter financials for FY 2013.
In FY 2012, the big eight hospital companies — which operate more than 530 acute-care hospitals and more than 170 behavioral health hospitals — recorded combined profit exceeding $2.84 billion. They also posted more than $79.9 billion in revenue. (This includes data from Vanguard's and IASIS' FY 2012 year-end results.)
Here are the quarterly financials of all eight hospital companies, starting with the most recent.
1. King of Prussia, Pa.-based Universal Health Services recorded fourth-quarter profit of $135.5 million — a 42 percent spike from $95.3 million in profit in the fourth quarter of 2011. For the entire 2012 fiscal year, UHS' profit was up 11.4 percent to $443.4 million.
2. Dallas-based Tenet Healthcare reported net income of $49 million in the fourth quarter of 2012 and $141 million for the entire 2012 fiscal year — both of which are large improvements from 2011.
3. In the fourth quarter of 2012, Franklin, Tenn.-based Community Health Systems reported profit of $62.6 million — more than double its $30.9 million profit from the same period in 2011. For the entire 2012 fiscal year, CHS' profit climbed 31.5 percent to $265.6 million, compared with $201.9 million in FY 2011.
4. For LifePoint Hospitals, based in Brentwood, Tenn., 2012 was a mildly rough year. The for-profit hospital operator's profit sank 3.7 percent in the fourth quarter, and profit was down 6.8 percent on the year. LifePoint's net income in the fourth quarter fell to $36.3 million, and in FY 2012, LifePoint's profit totaled $151.9 million.
5. In the fourth quarter of FY 2012, net income at Naples, Fla.-based Health Management Associates rose 56.5 percent to $48.3 million thanks to increased patient revenues and high amounts of electronic health record payments. For the fiscal year ended Dec. 31, 2012, Health Management's profit dropped 8 percent to $164.3 million.
6. For Nashville, Tenn.-based Hospital Corporation of America, net income fell to $314 million in the fourth quarter of fiscal year 2012, but its year-end profit surpassed $1.6 billion.
7. Franklin, Tenn.-based IASIS Healthcare posted a profit of $2.47 million in the first quarter of its 2013 fiscal year — an increase of more than 82 percent from last year's $1.35 million.
8. In the second quarter of its 2013 fiscal year, Nashville, Tenn.-based Vanguard Health Systems reported net income dropped 22.3 percent to $12.2 million even though total revenue continued to increase. For the six months ended Dec. 31, 2012, Vanguard posted total profit of $26.1 million, a significant difference from the $6 million loss during the first six months of its FY 2012.
In FY 2012, the big eight hospital companies — which operate more than 530 acute-care hospitals and more than 170 behavioral health hospitals — recorded combined profit exceeding $2.84 billion. They also posted more than $79.9 billion in revenue. (This includes data from Vanguard's and IASIS' FY 2012 year-end results.)
Here are the quarterly financials of all eight hospital companies, starting with the most recent.
1. King of Prussia, Pa.-based Universal Health Services recorded fourth-quarter profit of $135.5 million — a 42 percent spike from $95.3 million in profit in the fourth quarter of 2011. For the entire 2012 fiscal year, UHS' profit was up 11.4 percent to $443.4 million.
2. Dallas-based Tenet Healthcare reported net income of $49 million in the fourth quarter of 2012 and $141 million for the entire 2012 fiscal year — both of which are large improvements from 2011.
3. In the fourth quarter of 2012, Franklin, Tenn.-based Community Health Systems reported profit of $62.6 million — more than double its $30.9 million profit from the same period in 2011. For the entire 2012 fiscal year, CHS' profit climbed 31.5 percent to $265.6 million, compared with $201.9 million in FY 2011.
4. For LifePoint Hospitals, based in Brentwood, Tenn., 2012 was a mildly rough year. The for-profit hospital operator's profit sank 3.7 percent in the fourth quarter, and profit was down 6.8 percent on the year. LifePoint's net income in the fourth quarter fell to $36.3 million, and in FY 2012, LifePoint's profit totaled $151.9 million.
5. In the fourth quarter of FY 2012, net income at Naples, Fla.-based Health Management Associates rose 56.5 percent to $48.3 million thanks to increased patient revenues and high amounts of electronic health record payments. For the fiscal year ended Dec. 31, 2012, Health Management's profit dropped 8 percent to $164.3 million.
6. For Nashville, Tenn.-based Hospital Corporation of America, net income fell to $314 million in the fourth quarter of fiscal year 2012, but its year-end profit surpassed $1.6 billion.
7. Franklin, Tenn.-based IASIS Healthcare posted a profit of $2.47 million in the first quarter of its 2013 fiscal year — an increase of more than 82 percent from last year's $1.35 million.
8. In the second quarter of its 2013 fiscal year, Nashville, Tenn.-based Vanguard Health Systems reported net income dropped 22.3 percent to $12.2 million even though total revenue continued to increase. For the six months ended Dec. 31, 2012, Vanguard posted total profit of $26.1 million, a significant difference from the $6 million loss during the first six months of its FY 2012.
More Articles on Hospital Finance:
Helping Turn Around an Essential Safety Net: Q&A With Grady Health System CFO Mark Meyer
5 Reasons Why a Hospital May Be Experiencing Quarterly Losses Right Now
Missouri Hospital Sale Boosts SunLink's 2Q Profit