UHS attributed the dip in profit to stagnant volumes, higher operating expenses, increases in charity care and last year’s rural floor settlement with HHS and CMS.
Net revenue for the for-profit hospital operator rose a mild 2.2 percent, from $1.79 billion last year to $1.83 billion in this year’s quarter ended March 31.
UHS currently operates 23 acute-care hospitals, with most of its business coming from the behavioral health sector. During the first quarter of 2013, UHS’ acute-care hospitals reported a 1.5 percent decrease in same-facility adjusted admissions. Those hospitals also reported an increase of 2.2 percent in net revenue per adjusted admission.
However, UHS’ hospital operating margins took a hit — from 19 percent in the first quarter of 2012 to 16 percent this year — but they still remain far above the national average.
More Articles on Universal Health Services:
For-Profit Hospital Stock Report: Week of April 15-19, 2013
56 Statistics on Major For-Profit Hospital Chain Finances
Universal Health Services Doles Out $11.7M to CEO Alan Miller
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
