Naples, Fla.-based Health Management Associates has announced earnings for its fourth quarter ended Dec. 31, 2010, reporting a 17 percent loss in consolidated net earnings for the quarter compared to the same quarter a year prior, according to an HMA news release.
HMA attributed the earnings loss to losses on the sale of Riley Hospital, located in Meridian, Miss. As a result, the hospital has been placed in discontinued operations and prior periods have been reclassified, according to the release.
When taking into account the reclassification, HMA's revenues increased 14.1 percent to $1.35 billion, and income from continuing operations increased 26 percent to $46.4 million.
For the fourth quarter, same hospital net revenue increased 2.1 percent to $1.21 billion. Same hospital surgeries increased 5.2 percent, while same hospital admissions declined 3.1 percent, which the company attributed to declines in uninsured admissions and H1N1 flu cases. However, same hospital adjusted admissions increased 0.1 percent.
For the twelve months ended Dec. 31, 2010, HMA increased its consolidated net earnings by approximately 5 percent.
Read the release on HMA's earnings.
Read more coverage on HMA:
- HMA to Sell Riley Hospital in Mississippi
HMA attributed the earnings loss to losses on the sale of Riley Hospital, located in Meridian, Miss. As a result, the hospital has been placed in discontinued operations and prior periods have been reclassified, according to the release.
When taking into account the reclassification, HMA's revenues increased 14.1 percent to $1.35 billion, and income from continuing operations increased 26 percent to $46.4 million.
For the fourth quarter, same hospital net revenue increased 2.1 percent to $1.21 billion. Same hospital surgeries increased 5.2 percent, while same hospital admissions declined 3.1 percent, which the company attributed to declines in uninsured admissions and H1N1 flu cases. However, same hospital adjusted admissions increased 0.1 percent.
For the twelve months ended Dec. 31, 2010, HMA increased its consolidated net earnings by approximately 5 percent.
Read the release on HMA's earnings.
Read more coverage on HMA:
- HMA to Sell Riley Hospital in Mississippi