Naples, Fla.-based Health Management Associates reported its financial results for the first quarter ended March 31, 2011, with net income attributable to the company up 18.3 percent, from $46.9 million in the first quarter of 2010 to $55.5 million for the first quarter 2011.
HMA's revenue increased 12.7 percent to $1.4 billion.
Growth was attributed to a 4.2 percent growth in admissions. Adjusted admissions increased 8.3 percent. However, on a same-facility basis, admissions declined 3.9 percent, or 0.3 percent on an adjusted basis. Same-facility surgeries were up 0.5 percent. Same-facility net revenue was up 4.8 percent.
Expense related to doubtful accounts, or bad debt, was $172.8 million, up from $156.9 million a year ago. Uninsured self-pay patient discounts for the first quarter were $226.8 million, compared to $179.6 million for the same quarter a year ago, while charity/indigent care write-offs for the quarter were $21.4 million, compared to $20.8 million for the same quarter a year ago.
Read the release on HMA's earnings.
Read related articles on HMA:
HMA Enters Into Joint Venture With Physician-Owned Mississippi Hospital
HMA Earnings Down 17% for Quarter Due to Losses on Hospital Sale
HMA's revenue increased 12.7 percent to $1.4 billion.
Growth was attributed to a 4.2 percent growth in admissions. Adjusted admissions increased 8.3 percent. However, on a same-facility basis, admissions declined 3.9 percent, or 0.3 percent on an adjusted basis. Same-facility surgeries were up 0.5 percent. Same-facility net revenue was up 4.8 percent.
Expense related to doubtful accounts, or bad debt, was $172.8 million, up from $156.9 million a year ago. Uninsured self-pay patient discounts for the first quarter were $226.8 million, compared to $179.6 million for the same quarter a year ago, while charity/indigent care write-offs for the quarter were $21.4 million, compared to $20.8 million for the same quarter a year ago.
Read the release on HMA's earnings.
Read related articles on HMA:
HMA Enters Into Joint Venture With Physician-Owned Mississippi Hospital
HMA Earnings Down 17% for Quarter Due to Losses on Hospital Sale