First-quarter revenue among the largest for-profit hospital chains in the country do not signal an improvement over last year, according to an annual earnings report issued by a global agency.
Fitch Ratings found that the six largest chains, including Dallas-based Tenet Healthcare Corp., recorded a 4.7 percent drop in admissions and posted weak growth in inpatient volumes. The admission drop is the largest since 2011, Becker’s Hospital Review reports.
There are some trends in the industry that could change course as the year progresses: President Barack Obama’s health insurance exchanges exceeded enrollment expectations and hospitals have benefited from a higher acuity patient mix.
In all, the six largest chains posted $71.6 billion in revenue compared to $77 billion during the same period in 2013. The other five hospital chains surveyed were Nashville, Tenn.-based Hospital Corp. of America; Community Health Systems in Franklin, Tenn.; LifePoint Hospitals in Brentwood, Tenn.; Universal Health Services in King of Prussia, Pa.; and IASIS Healthcare, also located in Franklin.