HCA Profits Drop by Over One-Third

Nashville, Tenn.-based Hospital Corporation of America reported its first quarter 2013 net income is off by more than one third, compared to the same quarter in 2012.

Profits fell from $540 million last year to $344 million this year.

The company signaled in mid-April that decreasing inpatient admissions and outpatient volumes would hamper its operating income and revenue. It said inpatient and outpatient surgeries were down, compared to the previous year while same-hospital admissions slightly by 0.1 percent.

HCA’s first-quarter revenue was up 0.4 percent to $8.44 billion. HCA has 10 full-service and two specialty hospitals in North Texas, as well as 12 ambulatory surgery centers and 13 imaging centers.

Dallas-based Tenet Healthcare also reported a first-quarter net loss as its admissions declined as well.

Posted in Finance, Hospitals.