UHS sees profit grow to $251.9M in Q2

The health center operator, which oversees 26 intense care healthcare facilities and 312 behavioral health centers, saw its net income decrease 4.4 percent to $2.7 billion in the 2nd quarter of 2020. In the exact same duration last year, the hospital operator taped profits of $2.9 billion..

” We think that the negative impact that COVID-19 will have on our monetary outcomes and future operations will depend upon many factors, the majority of which are beyond our capability to anticipate or manage,” UHS stated..

More posts on healthcare finance: HCA records $1B profit in Q2Florida health system restores 640 furloughed workersHospital margins could sink to a negative 7% this year: 5 things to know.

Alia Paavola –
Tuesday, July 28th, 2020

UHS stated the pandemic has had a “product unfavorable impact” on its operations and monetary results. While it was hard struck with volume dips in April, it has seen its patient volumes rebound in May and June.
However, UHS warned that much of its intense care facilities lie in states that are starting to see boosts in COVID-19 infections.

King of Prussia, Pa.-based Universal Health Services saw its earnings in the 2nd quarter grow $13 million year-over-year to $251.9 million, according to its just recently released incomes report..

UHS saw its expenses reduce in the 2nd quarter of 2020 compared to 2019. For example, the system reported its costs reached $2.4 billion in the second quarter of 2020, compared to $2.5 billion in the very same duration last year..

Read the full revenues release here..

The hospital operator stated that it got about $218 million in relief aid from the Coronavirus Aid, Relief, and Economic Security Act, consisting of $157 million that went to its intense care hospitals and $61 million to its behavioral health centers..

UHS also saw its operating earnings grow in the 2nd quarter year over year, from $346.6 million to $358 million..

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

© Copyright ASC COMMUNICATIONS 2020. Intrigued in LINKING to or REPRINTING this content? View our policies by clicking here.