Franklin, Tenn.-based Capella Healthcare reported a loss of $1.3 million in the second quarter, a major drop-off from the second quarter of 2011 when the for-profit hospital operator recorded $3.3 million in profit.
The loss was primarily attributable to higher costs and expenses as well as a loss from discontinued operations of divested facilities. In the second quarter, total costs and expenses ate up almost 99 percent of Capella's total revenue.
Total revenue increased 8.3 percent, from $170.1 million in the second quarter of 2011 to $184.3 million this year, thanks to strong growth in admissions. Same-facility adjusted admissions were up 5.9 percent, and emergency room visits increased 9.7 percent.
For the six months ended June 30, 2012, Capella recorded a $3.4 million profit thanks to strong earnings in the first quarter, but it is still down from the $3.7 million profit in the first six months of 2011.
Revenue swelled 12 percent in the first six months, from $340.6 million to $381.2 million. Same-facility adjusted admissions increased 6.1 percent, outpatient surgery is up 9.8 percent and ER visits grew 9 percent. As of July 1, Capella operates 14 acute-care hospitals and one behavioral health facility.
The loss was primarily attributable to higher costs and expenses as well as a loss from discontinued operations of divested facilities. In the second quarter, total costs and expenses ate up almost 99 percent of Capella's total revenue.
Total revenue increased 8.3 percent, from $170.1 million in the second quarter of 2011 to $184.3 million this year, thanks to strong growth in admissions. Same-facility adjusted admissions were up 5.9 percent, and emergency room visits increased 9.7 percent.
For the six months ended June 30, 2012, Capella recorded a $3.4 million profit thanks to strong earnings in the first quarter, but it is still down from the $3.7 million profit in the first six months of 2011.
Revenue swelled 12 percent in the first six months, from $340.6 million to $381.2 million. Same-facility adjusted admissions increased 6.1 percent, outpatient surgery is up 9.8 percent and ER visits grew 9 percent. As of July 1, Capella operates 14 acute-care hospitals and one behavioral health facility.
More Articles on Capella Healthcare:
Size Matters: How Capella Healthcare Executes its Development Strategies
Mineral Area Regional Medical Center Names Lynn Mergen CEO
Capella Healthcare Completes Acquisition of Muskogee Community Hospital