King of Prussia, Pa.-based Universal Health Services announced its second quarter 2011 earnings, including net income attributable to UHS of $103.6 million, up nearly 58 percent from $65.6 million in the second quarter of 2010, according to a UHS news release.
Net revenues increased 42 percent to $1.9 billion during the second quarter of 2011 as compared to $1.34 billion during the second quarter of 2010. The increase in net revenues during the quarter was due primarily to the revenues generated at the behavioral healthcare facilities acquired from Psychiatric Solutions Nov. 2010, according to the release.
Same-facility adjusted admissions at UHS' acute-care facilities decreased 0.9 percent while adjusted patient days increased 1.6 percent, as compared to the second quarter of 2010. Net revenues at the acute-care facilities increased 6.1 percent for Q2 2011 compared to 2Q 2010, while net revenue per adjusted admission increased 7.1 percent. UHS attributed these increases to improved payor mix, higher acuity cases and strong commercial insurance pricing.
"Despite the challenges of the weak economy which has continued to keep the demand for our acute-care services muted, we are pleased with our improving payor mix trends and encouraged by the contribution of the large capital projects we've undertaken over the last few years," said UHS CEO Alan B. Miller in a statement. "Meanwhile the fundamentals of our behavioral health business remain robust and the integration of our recent acquisition is tracking very positively."
Read the release on UHS' earnings.
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Net revenues increased 42 percent to $1.9 billion during the second quarter of 2011 as compared to $1.34 billion during the second quarter of 2010. The increase in net revenues during the quarter was due primarily to the revenues generated at the behavioral healthcare facilities acquired from Psychiatric Solutions Nov. 2010, according to the release.
Same-facility adjusted admissions at UHS' acute-care facilities decreased 0.9 percent while adjusted patient days increased 1.6 percent, as compared to the second quarter of 2010. Net revenues at the acute-care facilities increased 6.1 percent for Q2 2011 compared to 2Q 2010, while net revenue per adjusted admission increased 7.1 percent. UHS attributed these increases to improved payor mix, higher acuity cases and strong commercial insurance pricing.
"Despite the challenges of the weak economy which has continued to keep the demand for our acute-care services muted, we are pleased with our improving payor mix trends and encouraged by the contribution of the large capital projects we've undertaken over the last few years," said UHS CEO Alan B. Miller in a statement. "Meanwhile the fundamentals of our behavioral health business remain robust and the integration of our recent acquisition is tracking very positively."
Read the release on UHS' earnings.