profits news from FierceHealthcare
News
Tenet reports first-quarter profit
Tenet Healthcare has reported a meaningful first-quarter profit, driven by a one-time debt swap gain and higher revenue. This represents a substantial change from just a couple of years ago, when... Read more...
WellPoint hit by 61 percent loss in Q4 2008, plans job cuts
WellPoint has been hit by a substantial loss for the fourth quarter, with net income falling by 61 percent as the plan struggles with investment losses and the impact of rising U.S. unemployment... Read more...
WellPoint loses money for Q2, but still pleases investors
Giant health plan WellPoint had what most financial types would consider a tough second quarter, with earnings falling 10 percent and its overall profit predictions for 2008 falling. Still, given... Read more...
ALSO NOTED: For-profits see bad debt drop during first quarter of '08; Bayer fined $16.2 million for price-fixing; and much mor
> As it turns out, for-profits actually saw bad debt expense go down during the first quarter of this year despite nasty market conditions. Read more...
Kaiser net income drops 64 percent
Oh, the dismay and rendering of garments that must be taking place in health plan boardrooms of late! Profits have taken a dramatic turn for the worse within several health plans, including... Read more...
ALSO NOTED: Provider bad debt expected to rise; Three-quarters of states developing health info exchanges; and much more...
> Analysts are predicting that with health plan profits shrinking, premiums will rise, consumers will be expected to carry more of the bill, and providers' bad debt will rise. Read more...
HMA to raise $400M from hospital, stock sales
Health Management Associates plans to begin selling off some of its hospitals, as well as minority stakes in the company, to reduce its outstanding debt, the company told stock analysts this week.... Read more...
Community Health expects less '08 revenue
Hospital chain Community Health Systems is expecting to make a healthy profit in 2008, but expects to take in less revenue this year than it originally had projected. The company, which just released... Read more...
LifePoint hospitals sees 30% profit drop for '07
It seems that LifePoint Hospitals took a beating in fiscal 2007. The Brentwood, Tenn.-based chain said that despite raised revenues, profits fell 20 percent, undermined by volume losses of 15 percent... Read more...
HCA sees debt rising until patients get insured
HCA is telling federal lawmakers and officials a grim story. Unless federal authorities expand coverage of uninsured patients, it expects to see bad-debt expenses keep rising at 18 percent to 20... Read more...
