Community Health Systems, HCA Healthcare, Tenet Healthcare and Universal Health Services all released second-quarter results in the past several days. Here is a roundup of the basic numbers.
- Franklin, Tenn.-based CHS reported a net loss of $38 million on revenue of $3.1 billion compared with a net loss of $326 million in the same period in 2022 on revenue of $2.9 billion.
- Nashville, Tenn.-based HCA reported net income of $1.19 billion on $15.86 billion of revenue in the second quarter. That compares with net income of $1.16 billion in the same period last year and $14.8 billion of revenues.
- Dallas-based Tenet Healthcare reported $123 million in net income for the second quarter of 2023 on revenue of $5.1 billion. That figure compared with net income of $38 million on $4.6 billion of revenue in the same period last year.
- King of Prussia, Pa.-based UHS reported net income of $179.4 million in the second quarter of 2023 on revenue of $3.5 billion versus $163.9 million in the same period in 2022 on revenue of $3.3 billion.
Further reducing contract labor continued to be a focus for all four health systems.
"In some areas, the labor scarcity is putting a strain on our resources and staff, which has required us to utilize higher‑cost temporary labor and pay premiums above standard compensation for essential workers," UHS said in a July 25 news release.
HCA saw its contract labor numbers down 20 percent in the period, while CHS reported such numbers down approximately 50 percent in the quarter, totaling $74 million.
Tenet said contract labor costs were down to 4.3 percent of the system's total salaries, wages and benefits costs, one of the lowest numbers in recent quarters.