LifePoint more than doubles profit in Q2

Brentwood, Tenn.-based LifePoint Health reported strong financial performance in the second quarter of 2017.

The for-profit hospital operator said revenues increased 0.2 percent year over year to $1.59 billion in the second quarter of this year, which ended June 30. The slight growth was attributable to an improvement in net revenue per equivalent admission.

Although net revenue per equivalent admission was up in the in the second quarter of this year, admissions and equivalent admissions were down 3.4 percent and 1.5 percent, respectively, year over year. LifePoint said about half of the decline in admissions was attributable to a decrease in inpatient surgeries.

After factoring in expenses and a $21.8 million reduction in year-over-year income tax payments, LifePoint ended the second quarter of 2017 with net income of $46 million, more than double its net income of $20.1 million in the same period of the year prior.

"Our consistent focus on what we can control and our longstanding operating discipline continue to be key to our success even while the volume environment remains challenging," said William F. Carpenter III, chairman and CEO of LifePoint, on an earnings call Tuesday.

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