Major for-profit hospital operators produced mixed financial results in the first quarter of 2019.
1. Franklin, Tenn.-based Community Health Systems reported revenues of $3.38 billion in the first quarter of 2019, down 8.5 percent from $3.69 billion in the same period of the year prior. The drop in revenue was partially attributable to a year-over-year decline in patient admissions and owning fewer hospitals than in the first quarter of 2018. CHS ended the first quarter of 2019 with a net loss attributable to stockholders of $118 million. That's compared to the first quarter of 2018, when the company recorded a net loss of $25 million.
2. Nashville, Tenn.-based HCA Healthcare said revenues increased 9.6 percent year over year to $12.5 billion in the first quarter of 2019. A portion of the increase in revenue — $86 million — was attributable to an arbitration agreement HCA finalized with a payer related to out-of-network claims. HCA ended the first quarter of 2019 with net income of $1.04 billion, down from $1.14 billion in the same period a year earlier.
3. Dallas-based Tenet Healthcare ended the first quarter of 2019 with revenues of $4.5 billion, down from $4.7 billion in the same period a year earlier. The company said the decline was largely due to hospital divestitures. Tenet reported a net loss attributable to shareholders of $27 million in the first quarter of 2019. In the first quarter of 2018, Tenet posted net income of $98 million.
4. King of Prussia, Pa.-based Universal Health Services reported revenues of $2.8 billion in the first quarter of this year, up 4.3 percent from the first quarter of 2018. Revenues from UHS' acute care services were up 4.7 percent year over year in the first quarter of 2019, while revenues from behavioral healthcare services climbed 3 percent. UHS ended the first quarter of 2019 with net income of $234.17 million, compared to $223.83 million in the same period a year earlier.
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