King of Prussia, Pa.-based Universal Health Services, one of the largest for-profit health systems in the country, has reported third-quarter net income of $167 million on revenue of $3.6 billion.
Those figures compared with $182.8 million net income in the same period in 2022 on revenue of $3.3 billion.
Operating expenses in the third quarter of 2023, totaling $3.3 billion, were up 7.1% from the same period in 2022. Salaries, wages and benefits totaling $1.8 billion increased 6.4%.
Net income for the nine months ending Sept. 30 was $501.4 million compared with $500.8 million in the same period in 2022.
The system's behavioral services division saw net revenues grow 7.6% on a same-facility basis during the third quarter and by 8.3% for the first nine months of the year.
UHS operates 27 acute care hospitals and employs approximately 93,800 people.