Profit in the fourth quarter of fiscal year 2011 for Naples, Fla.-based Health Management Associates increased 9.5 percent from the same period in 2010 to a total of $30.8 million thanks in part to higher net revenue, according to a Health Management news release.
Net revenue in the fourth quarter rose to $1.58 billion, an increase of 17.6 percent from the fourth quarter in 2010.
For the year ended Dec. 31, 2011, Health Management posted net income of $178.7 million, up more than 19 percent from the $150 million profit posted last year. Net revenue in 2011 grew 14 percent from 2010 to a total of $5.8 billion. Health Management's adjusted EBITDA currently stands at $848.2 million, an increase of 15.8 percent from $732.5 million in 2010.
Health Management also released same-hospital metrics for the fourth quarter and the entire 2011 fiscal year. Same-hospital surgeries increased 0.8 percent in the fourth quarter and 0.6 percent on the year. However, admissions fell 3.7 percent in the fourth quarter and 4 percent in 2011. Adjusted admissions dropped 1.1 percent in fourth quarter and 0.9 percent on the year.
Occupancy at Health Management's same hospitals was 40.7 percent in the fourth quarter, down from 42.7 percent in the same quarter in 2010. Same-hospital occupancy in 2011 fell to 42.1 percent from 43.9 percent in 2010.
Net revenue in the fourth quarter rose to $1.58 billion, an increase of 17.6 percent from the fourth quarter in 2010.
For the year ended Dec. 31, 2011, Health Management posted net income of $178.7 million, up more than 19 percent from the $150 million profit posted last year. Net revenue in 2011 grew 14 percent from 2010 to a total of $5.8 billion. Health Management's adjusted EBITDA currently stands at $848.2 million, an increase of 15.8 percent from $732.5 million in 2010.
Health Management also released same-hospital metrics for the fourth quarter and the entire 2011 fiscal year. Same-hospital surgeries increased 0.8 percent in the fourth quarter and 0.6 percent on the year. However, admissions fell 3.7 percent in the fourth quarter and 4 percent in 2011. Adjusted admissions dropped 1.1 percent in fourth quarter and 0.9 percent on the year.
Occupancy at Health Management's same hospitals was 40.7 percent in the fourth quarter, down from 42.7 percent in the same quarter in 2010. Same-hospital occupancy in 2011 fell to 42.1 percent from 43.9 percent in 2010.
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