Major for-profit hospital operators produced mixed financial results in the third quarter of 2017.
1. Nashville, Tenn.-based HCA Healthcare ended the third quarter of this year with net income of $426 million on revenues of $10.7 billion. That's compared to the same period of 2016, when the company recorded net income of $618 million on revenues of $10.3 billion. HCA took an estimated $140 million hit from hurricanes Irma and Harvey in the third quarter of this year, and the Texas Medicaid Waiver program also took a toll on the company's finances.
2. Dallas-based Tenet Healthcare ended the third quarter of this year with a net loss of $367 million on revenues of $4.59 billion. That's compared to the same period of 2016, when the company recorded a net loss of $8 million on revenues of $4.85 billion. Tenet said revenues from the Texas Medicaid Waiver program and Florida's Medicaid program were lower than expected in the third quarter of this year. The company also took an estimated $30 million hit from hurricanes Harvey and Irma.
3. Franklin, Tenn.-based Community Health Systems' revenues dipped to $3.67 billion in the third quarter of this year, down from $4.38 billion in the same period of 2016. The decrease in revenue was attributable, in part, to lower patient volume. On a same-facility basis, admissions were down 14.8 percent in the third quarter of this year. The company's financials also took a $40 million hit from hurricanes Harvey and Irma in the three months ended Sept. 30. The company ended the third quarter of 2017 with a net loss of $110 million, compared to a net loss of $79 million in the same period of the year prior.
4. King of Prussia, Pa.-based Universal Health Services' revenues climbed 5.5 percent year over year to $2.5 billion in the third quarter of this year. The revenue boost was largely attributable to an increase in patient volume. UHS ended the third quarter of this year with net income of $141.2 million, down from net income of $151.9 million in the same period of the year prior. UHS incurred a $22 million to $24 million hit from litigation and hurricanes Harvey, Irma and Maria.
5. Brentwood, Tenn.-based LifePoint Health recorded revenues of $1.58 billion in the third quarter of this year, down slightly from $1.59 billion in the same period of the year prior. LifePoint's financials were impacted by lower patient volume in the most recent quarter. The company said admissions, inpatient surgeries, outpatient surgeries and emergency room visits all declined year over year in the third quarter of this year. The company ended the third quarter of 2017 with net income of $27.5 million, down 30 percent from net income of $39.5 million in the same period of 2016.
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