Nashville, Tenn.-based HCA Holdings announced positive financial and operating results for its fourth quarter of fiscal 2014.
The hospital operator reported $9.6 billion in total revenues for the fourth quarter of FY 2014 compared to $8.8 billion in the fourth quarter of 2013. The fourth quarter 2014 results include a $68 million increase in Medicaid revenues related to the reversal of the Texas Medicaid Waiver Program adjustment to reduce revenues that was recorded in the third quarter of last year, according to HCA.
Same facility equivalent admissions increased 5.6 percent while same facility admissions increased 5 percent in the fourth quarter of 2014 compared to the fourth quarter of 2013.
HCA said strong volume and higher revenue per equivalent admission helped drive its fourth quarter revenue growth.
Additionally, HCA's net income totaled $527 million for the fourth quarter of fiscal 2014, up from $424 million in the same period the year prior.
HCA's revenues for the year ended Dec. 31, 2014 totaled $36.9 billion compared to $34.2 billion for 2013.
HCA Chairman and CEO, R. Milton Johnson, said in a statement, "We are very pleased with the company's fourth quarter and full year 2014 results. We believe our focus on clinical excellence, strategic capital deployment and operational execution has positioned the Company well for the future. "
HCA projected its 2015 revenue would be between $38.5 billion and $39.5 billion.
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