King of Prussia, Pa.-based Universal Health Services saw revenues and profits increase in 2019, according to financial documents released Feb. 26.
The hospital chain's revenues increased 5.6 percent year over year to $11.4 billion in 2019. The company's acute care hospitals and behavioral healthcare facilities contributed to the revenue growth. Revenues from UHS' acute care services were up 7.7 percent year over year, while revenues from behavioral healthcare services climbed 3.1 percent on a same facility basis.
UHS saw expenses increase from $9.6 billion in 2018 to $10.2 billion last year. The company reported higher expenses across all categories, including labor and supplies costs.
The company's income from operations increased 3.5 percent year over year. After factoring in nonoperating items, UHS ended 2019 with net income of $814.9 million. The company reported net income of $779.7 million in 2018.
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