Nashville, Tenn.-based Hospital Corporation of America posted revenues of $9.22 billion in the third quarter of this year, a 9 percent increase over the $8.46 billion the hospital operator posted in the third quarter of 2013.
HCA's third-quarter net income was $518 million, a sizeable increase over the $365 million it posted for the same quarter last year. In addition, HCA's adjusted EBITDA totaled $1.83 billion compared to $1.60 billion in the third quarter of 2013.
The hospital operator's strong financial results are partially attributable to an increase of 4.1 percent in same facility equivalent admissions, with revenue per admission increasing 3.8 percent.
"Results for the company's third quarter reflect a continuation of solid volume trends and improving payer and service mix," said R. Milton Johnson, president and CEO of HCA.
Based on its strong third-quarter financial results, HCA raised its previously issued financial guidance ranges for 2014. The hospital operator now predicts its revenues for 2014 will be between $36.50 billion and $37 billion, and its adjusted EBITDA will be between $7.25 billion and $7.35 billion for the year.
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