Nashville, Tenn.-based HCA Healthcare, the largest hospital system in the country, has reported first-quarter 2023 net income of $1.36 billion on $15.6 billion of revenue. That compares with net income of $1.27 billion in the same period last year and $2.1 billion in the final quarter of 2022.
HCA had $38.9 billion in debt as of March 31.
HCA also revised its outlook for the year to up its predicted revenue to between $62.5 billion and $64.5 billion as compared with previous forecasts of between $61.5 billion and $63.5 billion. It also raised its net income prediction to between $4.75 billion and $5.16 billion as compared with previous forecasts of between $4.53 billion and $4.9 billion.
"Their efforts produced solid results that reflected strong demand for our services," Sam Hazen, CEO of HCA, said of the health system's employees. "Additionally, the investments we continued to make in our colleagues through various programs contributed to further improvements in key metrics."
HCA operates 180 hospitals across 20 states and the United Kingdom as well as 2,300 care sites with more than 47,000 physicians.