King of Prussia, Pa.-based Universal Health Services reported net income of $174.3 million for the first quarter of fiscal 2015, up 26.2 percent from $138.1 million during the comparable period of 2014.
Here are five key points from the hospital operator's first-quarter earnings statement.
1. Net revenue increased to $2.23 billion, up 14.8 percent from the first quarter of 2014.
2. Net revenue at UHS' acute-care facilities increased 12.2 percent in the first quarter of FY 2015 as compared to the same period of the prior year, which was attributable largely to the facilities providing care to fewer uninsured patients.
3. The hospital operator's expenses increased to $1.9 billion in the first quarter of fiscal 2015, up from about $1.7 billion in the first quarter of fiscal 2014. Costs related to salaries, wages and benefits grew to $1 billion compared to $935.4 million in the first quarter of the year prior.
4. UHS reported income from operations of $327.1 million for the first quarter of fiscal 2015, up from about $271 million in the first quarter of 2014.
5. Same-facility adjusted admissions at UHS' acute-care hospitals increased 5.7 percent, as compared to the preceding year.
More articles on healthcare finance:
Grady Health System settles Medicaid overbilling case
Ohio House attempting to take Medicaid authority from governor
5 hospital CFOs in the headlines