Brentwood, Tenn.-based LifePoint Hospitals' net income in the fourth quarter of fiscal year 2011 rose 4.1 percent from the same period last year to a total of $37.7 million, according to a LifePoint news release.
During the fourth quarter of FY 2011, LifePoint adopted the Financial Accounting Standards Board's new Accounting Standards Update 2011-07, which requires healthcare organizations to present revenues net of the provision for "doubtful accounts," or bad debt. Generally, bad debt has been classified as an operating expense rather than a revenue reduction.
Therefore, LifePoint's revenues before the provision for doubtful accounts in the fourth quarter were $916.4 million, an increase of 7.4 percent from the fourth quarter of 2010. With ASU 2011-07, total revenue from continuing operations equaled $781.3 million, up 6.6 percent from the same period a year ago.
For the entire 2011 fiscal year, LifePoint's profit totaled $162.9 million, up 4.8 percent from the $155.5 million in profit recorded in 2010. Revenue from continuing operations in 2011 increased 7.4 percent from 2010 to $3.03 billion. Revenue before the provision for doubtful accounts was $3.54 billion in FY 2011. LifePoint's adjusted EBITDA for the year ended Dec. 31, 2011, reached $536.2 million.
LifePoint also reported same-hospital statistics for FY 2011. Admissions decreased 0.4 percent, as did equivalent admission. Revenues per equivalent admission jumped 3.5 percent in 2011 from 2010 to $7,185. Inpatient surgeries fell 5.7 percent on the year, outpatient surgeries dropped 2.7 percent and emergency room visits increased 2.2 percent.
During the fourth quarter of FY 2011, LifePoint adopted the Financial Accounting Standards Board's new Accounting Standards Update 2011-07, which requires healthcare organizations to present revenues net of the provision for "doubtful accounts," or bad debt. Generally, bad debt has been classified as an operating expense rather than a revenue reduction.
Therefore, LifePoint's revenues before the provision for doubtful accounts in the fourth quarter were $916.4 million, an increase of 7.4 percent from the fourth quarter of 2010. With ASU 2011-07, total revenue from continuing operations equaled $781.3 million, up 6.6 percent from the same period a year ago.
For the entire 2011 fiscal year, LifePoint's profit totaled $162.9 million, up 4.8 percent from the $155.5 million in profit recorded in 2010. Revenue from continuing operations in 2011 increased 7.4 percent from 2010 to $3.03 billion. Revenue before the provision for doubtful accounts was $3.54 billion in FY 2011. LifePoint's adjusted EBITDA for the year ended Dec. 31, 2011, reached $536.2 million.
LifePoint also reported same-hospital statistics for FY 2011. Admissions decreased 0.4 percent, as did equivalent admission. Revenues per equivalent admission jumped 3.5 percent in 2011 from 2010 to $7,185. Inpatient surgeries fell 5.7 percent on the year, outpatient surgeries dropped 2.7 percent and emergency room visits increased 2.2 percent.
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