Nashville-based private hospital operator HCA saw profits rise 31 percent for Q4 2010, Reuters reports. For the year, HCA earned $1.2 billion in profits, up 14.5 percent from 2009, according to the Nashville Post. Revenues for 2010 totaled $30.6 billion.
Higher volume and revenue per admission drove the revenue growth. "We had very solid operating results last year, despite a challenging economy," Richard M. Bracken, Chairman of the Board and Chief Executive Officer of HCA, said in a press release.
Among challenges HCA faced were a decline in surgery cases and a rise in uninsured admissions compared with Q4 2009, according to the Post.
During the fourth quarter, HCA acquired a few hospitals. HCA was part of a partnership that acquired The Heart Hospital of Austin, and another partnership between HCA and the Methodist Healthcare Ministries--Methodist Healthcare System--acquired TExSan Heart Hospital in San Antonio.
As of Dec. 31, 2010, HCA operated 164 hospitals and 106 freestanding surgery centers.
To learn more:
- here's HCA's press release
- read the Reuters article
- here's the Nashville Post story
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