Net income attributable to Nashville, Tenn.-based Hospital Corporation of America in the first quarter of 2013 slipped more than 36 percent, from $540 million last year to $344 million this year.
The largest for-profit hospital operator's results fell in step with its estimates from earlier this month, in which HCA said lagging admissions and outpatient volumes hurt its first-quarter earnings. Similar to other hospital companies, HCA also attributed lower profit figures due to last year's nonrecurring revenue boost from the "rural floor settlement" with HHS and CMS, in which HCA received $188 million in one-time Medicare adjustments.
HCA's first-quarter revenue creeped up a nominal 0.4 percent to $8.44 billion, while adjusted EBITDA declined 14 percent to $1.57 billion.
In the first quarter, HCA's same-hospital admissions increased 0.1 percent, but equivalent admissions fell 0.7 percent, while inpatient revenue per admission dropped 0.2 percent. Inpatient and outpatient surgeries also trended downward, as they fell 2.6 percent and 4.3 percent, respectively, in the first quarter ended March 31.
Currently, HCA operates 162 hospitals and 113 freestanding surgery centers.
The largest for-profit hospital operator's results fell in step with its estimates from earlier this month, in which HCA said lagging admissions and outpatient volumes hurt its first-quarter earnings. Similar to other hospital companies, HCA also attributed lower profit figures due to last year's nonrecurring revenue boost from the "rural floor settlement" with HHS and CMS, in which HCA received $188 million in one-time Medicare adjustments.HCA's first-quarter revenue creeped up a nominal 0.4 percent to $8.44 billion, while adjusted EBITDA declined 14 percent to $1.57 billion.
In the first quarter, HCA's same-hospital admissions increased 0.1 percent, but equivalent admissions fell 0.7 percent, while inpatient revenue per admission dropped 0.2 percent. Inpatient and outpatient surgeries also trended downward, as they fell 2.6 percent and 4.3 percent, respectively, in the first quarter ended March 31.
Currently, HCA operates 162 hospitals and 113 freestanding surgery centers.
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