In the first three months of fiscal year 2013, Franklin, Tenn.-based Capella Healthcare lost $5.6 million — a big drop from the $4.7 million in profit it recorded in the same period last year.
Capella's revenue also fell 4.9 percent, but as other for-profit hospitals operators have noted, revenues have looked lackluster due to the industrywide "rural floor settlement" with CMS and HHS last year, as well as the extra day of business in 2012 due to leap day. Capella also recorded higher levels of bad debt in the first quarter, totaling more than $25 million.
Inpatient and outpatient surgeries increased 2.9 percent and 0.7 percent, respectively, at Capella's hospitals in the first quarter of FY 2013, based on continuing operations. However, admissions, adjusted admissions and revenue per adjusted admission were all down: 1 percent, 1.5 percent and 3.5 percent, respectively.
Capella currently owns or operates 13 acute-care hospitals and one behavioral health center. It closed FY 2012 with a loss of $14.1 million.
Capella's revenue also fell 4.9 percent, but as other for-profit hospitals operators have noted, revenues have looked lackluster due to the industrywide "rural floor settlement" with CMS and HHS last year, as well as the extra day of business in 2012 due to leap day. Capella also recorded higher levels of bad debt in the first quarter, totaling more than $25 million.Inpatient and outpatient surgeries increased 2.9 percent and 0.7 percent, respectively, at Capella's hospitals in the first quarter of FY 2013, based on continuing operations. However, admissions, adjusted admissions and revenue per adjusted admission were all down: 1 percent, 1.5 percent and 3.5 percent, respectively.
Capella currently owns or operates 13 acute-care hospitals and one behavioral health center. It closed FY 2012 with a loss of $14.1 million.
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