Nashville, Tenn.-based HCA Healthcare posted a net income of nearly $1.5 billion in the second quarter of 2024, up from $1.2 billion over the same period in 2023, according to the for-profit health system's July 23 finance report.
Seven things to know:
1. Revenues for the three months ended June 30 totaled $17.5 billion, compared to $15.9 billion in the same quarter last year.
2. Total expenses for the quarter were $15.3 billion, up from $14.1 billion over the same period last year.
3. Salary and benefit costs totaled $7.7 billion in the quarter, up from $7.3 billion over the same period last year. Supply expenses totaled $2.6 billion, up from $2.5 billion.
4. Same facility admissions increased 5.8% compared to the same period last year. Same facility equivalent admissions climbed 5.2%. Same facility emergency room visits increased 5.5%, same facility inpatient surgeries increased 2.6%. Same facility outpatient surgeries declined 2.1%.
5. Same facility revenue per equivalent admission increased 4.4% compared to the same quarter last year.
6. The 188-hospital system raised its 2024 forecast. HCA is estimating a net income of $5.7 billion to $6 billion for the year ending Dec. 31. That's up from its previous estimate of $5.2 billion to $5.6 billion.
7. "The company’s results for the second quarter were positive and reflected strong demand for our services," HCA CEO Sam Hazen said in the report. "Our teams continued to execute our strategic plan effectively and produce positive outcomes for our patients."