Four major for-profit hospital operators saw profits decline in the second quarter of 2022.
- Nashville, Tenn.-based HCA Healthcare, a 182-hospital system, reported revenues of $14.82 billion in the second quarter of this year, up from $14.44 billion in the same period last year. HCA said same-facility admissions declined 1.2 percent year over year in the second quarter of this year. Emergency room visits were up 7.3 percent year over year. HCA's net income totaled $1.16 billion in the second quarter of 2022, down from $1.45 billion in the same period a year ago. The second quarter of this year included $32 million in losses on the sales of facilities and and losses on retirement of debt of $78 million.
- Dallas-based Tenet Healthcare reported revenues of $4.64 billion in the second quarter of this year, down from $4.95 billion in the same period a year earlier. The decrease was primarily attributed to the sale of the company's Miami-area hospitals in the third quarter of 2021 and the impact of a cybersecurity incident. The 60-hospital system ended the second quarter of this year with net income of $38 million, down from $119 million in the same quarter last year.
- Franklin, Tenn.-based Community Health Systems, which operates 83 hospitals, said revenues and admissions were down in the three months ended June 30. Admissions declined 3.4 percent year over year and revenues were down 2.4 percent compared to the second quarter of 2021. After factoring in costs and one-time expenses, the for-profit hospital operator ended the second quarter with a net loss of $326 million on revenues of $2.93 billion. CHS reported net income of $6 million on revenues of $3 billion in the same period a year earlier.
- King of Prussia, Pa.-based Universal Health Services reported higher revenue but a lower profit in the second quarter of 2022. The hospital chain's revenues increased 3.9 percent year over year to $3.3 billion in the second quarter of this year. UHS said the nationwide shortage of nurses and other clinical staff has been a significant operating issue. After factoring in nonoperating items, UHS ended the second quarter of this year with net income of $164.06 million. The company reported net income of $325.28 million in the same period of 2021.