Franklin, Tenn.-based Capella Healthcare reported a profit of $4.7 million in the first quarter of 2012, far above the $400,000 in net income it recorded in the first quarter last year.
Like several other for-profit hospital operators, Capella benefited from the rural floor provision settlement with HHS, which awarded approximately $3 billion in Medicare dollars to 2,200 hospitals. Capella received $5.1 million from that settlement, and it also received $13.6 million from a settlement involving Oklahoma's hospital provider fee. Both of these settlements were recorded in the first quarter's totals.
Total revenue increased 15.5 percent, from $170.5 million in the first quarter of 2011 to $196.9 million this past quarter. Capella's total costs and expenses rose 11.5 percent, but they accounted for a lower percentage of revenues.
Operating statistics in the first quarter across Capella's same facilities included a 6.3 percent increase in adjusted admissions and a 17.3 percent boost in outpatient surgeries. Inpatient surgeries fell 7.4 percent.
Like several other for-profit hospital operators, Capella benefited from the rural floor provision settlement with HHS, which awarded approximately $3 billion in Medicare dollars to 2,200 hospitals. Capella received $5.1 million from that settlement, and it also received $13.6 million from a settlement involving Oklahoma's hospital provider fee. Both of these settlements were recorded in the first quarter's totals.
Total revenue increased 15.5 percent, from $170.5 million in the first quarter of 2011 to $196.9 million this past quarter. Capella's total costs and expenses rose 11.5 percent, but they accounted for a lower percentage of revenues.
Operating statistics in the first quarter across Capella's same facilities included a 6.3 percent increase in adjusted admissions and a 17.3 percent boost in outpatient surgeries. Inpatient surgeries fell 7.4 percent.
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