Here are five things to know about CHS’ third-quarter financial results.
1. CHS’ financial results include Naples, Fla.-based Health Management Associates operating results from Jan. 27, as that is the date CHS completed its acquisition of HMA
2. CHS’ net income for the three months ended Sept. 30 was $62 million, up from $4 million for the same period of 2013.
3. In its third-quarter financial report, CHS disclosed a settlement it reached with the Department of Justice to resolve allegations three CHS hospitals in New Mexico improperly submitted false claims to the state’s Medicaid program. A reserve of $75 million was recorded to settle the government’s claim. CHS also disclosed it paid $2 million in legal fees related to the False Claims Act settlement in the third quarter of this year.
4. CHS’ Adjusted EBITDA for the third quarter of 2014 was $663 million, compared with $382 million for the same period in 2013.
5. CHS’ operating results reflect a 49 percent increase in total admissions, and a 53.2 percent increase in total adjusted admissions, compared with the third quarter of last year.
More articles on third-quarter financial results:
Molina Healthcare’s profits double in Q3
Capella Healthcare posts $4.6M net gain for Q3
Cigna’s revenues increased 9% in Q3
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