Despite revenue growth in fiscal year 2012, Franklin, Tenn.-based Capella Healthcare lost $14.1 million — the second straight year it has lost roughly $14 million.
In the fourth quarter ended Dec. 31, Capella recorded a net loss of $12 million compared with a loss of $14.4 million in the fourth quarter of 2011. Increased operating expenses and acquisition costs contributed to the red bottom line. However, total revenue in the fourth quarter increased 6 percent to $183.2 million.
Capella's $14.1 million loss in 2012 was nearly identical to 2011, when the for-profit hospital operator lost $14.5 million. Total revenue increased more than 9.3 percent on the year to $747.8 million, though higher operating costs and expenses contributed to the yearly red ink as well.
On the year, Capella's same-facility admissions increased 2.8 percent, while same-facility adjusted admissions improved 5.4 percent. Inpatient surgeries were down 1.3 percent, but outpatient surgeries and emergency room visits climbed 6 percent and 10.4 percent, respectively.
Capella currently owns or operates 13 acute-care hospitals and one behavioral health center. This past year included several deals for Capella, including the completion of a joint venture with Nashville, Tenn.-based Saint Thomas Health and the acquisition of two hospitals in Muskogee, Okla., which is now branded as Eastar Health System.
In the fourth quarter ended Dec. 31, Capella recorded a net loss of $12 million compared with a loss of $14.4 million in the fourth quarter of 2011. Increased operating expenses and acquisition costs contributed to the red bottom line. However, total revenue in the fourth quarter increased 6 percent to $183.2 million.Capella's $14.1 million loss in 2012 was nearly identical to 2011, when the for-profit hospital operator lost $14.5 million. Total revenue increased more than 9.3 percent on the year to $747.8 million, though higher operating costs and expenses contributed to the yearly red ink as well.
On the year, Capella's same-facility admissions increased 2.8 percent, while same-facility adjusted admissions improved 5.4 percent. Inpatient surgeries were down 1.3 percent, but outpatient surgeries and emergency room visits climbed 6 percent and 10.4 percent, respectively.
Capella currently owns or operates 13 acute-care hospitals and one behavioral health center. This past year included several deals for Capella, including the completion of a joint venture with Nashville, Tenn.-based Saint Thomas Health and the acquisition of two hospitals in Muskogee, Okla., which is now branded as Eastar Health System.
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