HCA reported third-quarter 2009 income of $196 million last week, more than doubling the $86 million in income it posted in the prior year during the same period. It's an impressive increase made particularly striking by the still-struggling economy, which has left unemployment at high levels and many patients without insurance coverage.
The chain, which runs 163 hospitals and 105 freestanding surgery centers, reported revenue of $7.5 billion for the third quarter of 2009, compared with $7 billion in Q3 '08. The chain saw same-facility emergency room visits climb 11.1 percent, and same-facility admissions 2.7 percent, both of which must have helped the company achieve its favorable results.
However, it also saw bad debt and charity care expenses rise, with provision for doubtful accounts climbing to $910 million, or 12.1 percent of revenue. Meanwhile, charity care and uninsured discounts were $1.3 billion for the recent quarter, up from $920 million last year during the same period.
To learn more about HCA's performance:
- read this press release
- read this Tampa Bay Business Journal item
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