Franklin, Tenn.-based hospital operator Capella Healthcare posted a net gain of $4.6 million for the third quarter of 2014, during which admissions decreased 2.7 percent but adjusted admissions increased 2.1 percent.
Capella's financial results for the third quarter of this year are in stark contrast to the $5.1 million loss the hospital operator posted during the same quarter in 2013.
Capella also reported operating revenues of $195.1 million for the third quarter, up 5.6 percent from the $184.8 million it reported for the same period in 2013.
The growth in Capella's operating results was driven by recent investments in advanced outpatient services, which have yielded record outpatient revenue growth, and an improved payer mix.
Correction: The following was updated on Nov.3: The initial article misreported the net gain. We apologize for the error.