Franklin, Tenn.-based IASIS Healthcare announced its earnings for its third quarter ended June 30, 2011, announcing net revenues of $718.6 million, up 12.6 percent compared to $638 million the same quarter a year prior.
Net revenues for the third quarter includes $8.1 million in supplemental Medicaid incentive reimbursement related to the adoption of a certified electronic health record.
The company's earnings from continuing operations dropped to 1.6 million, compared to $21.7 million in 3Q 2010. IASIS contributed the drop in part to a $23.1 million loss on extinguishment of debt associated with the company's debt refinancing transaction, which was completed on May 3, 2011. Net earnings attributable to IASIS were in the red, with a loss of $463,000, compared to a $19.3 million profit the same quarter a year prior.
On a same facility basis, admissions and adjusted admissions increased 0.9 percent and 0.8 percent, while net patient revenue per adjusted admission increased 4.1 percent compared to the prior year quarter.
Read the release on IASIS' earnings.
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Net revenues for the third quarter includes $8.1 million in supplemental Medicaid incentive reimbursement related to the adoption of a certified electronic health record.
The company's earnings from continuing operations dropped to 1.6 million, compared to $21.7 million in 3Q 2010. IASIS contributed the drop in part to a $23.1 million loss on extinguishment of debt associated with the company's debt refinancing transaction, which was completed on May 3, 2011. Net earnings attributable to IASIS were in the red, with a loss of $463,000, compared to a $19.3 million profit the same quarter a year prior.
On a same facility basis, admissions and adjusted admissions increased 0.9 percent and 0.8 percent, while net patient revenue per adjusted admission increased 4.1 percent compared to the prior year quarter.
Read the release on IASIS' earnings.