Nashville, Tenn.-based HCA Healthcare saw revenues of $14.97 billion in the third quarter of 2022, down from $15.28 billion over the same period last year, according to its financial report released Oct. 21.
Five details:
1. The 182-hospital, for-profit system saw a net income of $1.13 billion in the quarter ended Sept. 30, down from $2.27 billion over the same period last year.
2. The third-quarter results include Hurricane Ian's impact, primarily at the system's Florida facilities, causing additional expenses and lost revenues estimated at $35 million, according to the report. That amount is before any potential insurance recoveries.
3. "Despite a difficult comparison to the prior year due to the COVID-19 delta variant, we are pleased with our results and the execution of our teams in a challenging operating environment, which included tremendous efforts from our courageous front-line caregivers and support teams who worked tirelessly to provide uninterrupted care during Hurricane Ian," HCA CEO Sam Hazen said in the report.
4. For the nine months ended Sept. 30, HCA's net income was $3.56 billion on $44.74 billion in revenues. That is compared to a net income of $5.14 billion on $43.69 billion in revenues over the same period last year.
5. Results for the first nine months of 2022 included losses of $25 million on the sales of facilities. Results for the first nine months of 2021 included gains on facility sales of $1.1 billion.