How CHS, HCA, Tenet and UHS fared in Q3

Major for-profit hospital operators reported mixed financial results in the third quarter of this year.

1. Franklin, Tenn.-based Community Health Systems‘ revenues declined 3.7 percent year over year in the third quarter of 2020. The drop was largely attributed to lower patient volume amid the COVID-19 pandemic. On a same-facility basis, admissions were down 6.1 percent year over year. The company ended the third quarter of this year with net income of $112 million, compared to a net loss of $17 million in the same period a year earlier. 

2. Nashville, Tenn.-based HCA Healthcare posted revenues of $13.3 billion in the third quarter of this year, up 4.9 percent from the same period a year earlier. Same-hospital admissions declined 3.8 percent year over year. HCA ended the third quarter of this year with net income of $668 million. That’s up from net income of $612 million in the same period last year. 

3. Dallas-based Tenet Healthcare reported revenues of $4.56 billion in the third quarter of this year, down slightly from $4.57 billion in the same period of 2019. Net operating revenues for the company’s hospital segment were down 1.2 percent year over year. Tenet ended the third quarter of 2020 with a net loss of $197 million, compared to a net loss of $227 million in the same period last year. 

4. King of Prussia, Pa.-based Universal Health Services recorded revenues of $2.9 billion in the third quarter of 2020, up from $2.8 billion in the same period last year. The company ended the third quarter of this year with net income of $241.3 million, up from $97.2 million a year earlier. During the third quarter of 2020, UHS recorded $4 million in grant revenues for its acute care services business and reversed about $9 million in previously recorded grant revenues for its behavioral health services business. 

More articles on healthcare finance:
CMS releases final price disclosure rule: 5 things to know
16 rural hospital closures in 2020
Hospital bankruptcy wave looms as virus surges


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