Net revenue in the fourth quarter rose to $1.58 billion, an increase of 17.6 percent from the fourth quarter in 2010.
For the year ended Dec. 31, 2011, Health Management posted net income of $178.7 million, up more than 19 percent from the $150 million profit posted last year. Net revenue in 2011 grew 14 percent from 2010 to a total of $5.8 billion. Health Management’s adjusted EBITDA currently stands at $848.2 million, an increase of 15.8 percent from $732.5 million in 2010.
Health Management also released same-hospital metrics for the fourth quarter and the entire 2011 fiscal year. Same-hospital surgeries increased 0.8 percent in the fourth quarter and 0.6 percent on the year. However, admissions fell 3.7 percent in the fourth quarter and 4 percent in 2011. Adjusted admissions dropped 1.1 percent in fourth quarter and 0.9 percent on the year.
Occupancy at Health Management’s same hospitals was 40.7 percent in the fourth quarter, down from 42.7 percent in the same quarter in 2010. Same-hospital occupancy in 2011 fell to 42.1 percent from 43.9 percent in 2010.
Related Articles on Health Management Associates:
Health Management Associates, Integris Health Executes Joint Venture for 5 Oklahoma Hospitals
Health Management CEO: “No Merit Whatsoever” to Lawsuit Causing Stock Plunge
Health Management Associates’ Revenue, Income up in 3Q
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
