HCA more than doubles profit in Q4

Nashville, Tenn.-based HCA Healthcare's revenue and profit increased year over year in the fourth quarter of 2018.

Five things to know:

1. HCA said revenues increased 6.2 percent year over year to $12.3 billion in the fourth quarter of 2018. The growth was partially attributable to higher patient volume. HCA said same-facility admissions increased 1.9 percent year over year.

2. HCA's earnings took a $31 million hit from Hurricane Michael in the fourth quarter of 2018. The company also recorded a benefit of $49 million from insurance recovery related to Hurricane Harvey.

3. The company's operating expenses totaled $9.8 billion in the fourth quarter of 2018, up from $9.2 billion in the same period of 2017.

4. After factoring in nonoperating income, one-time charges and a tax benefit of $236 million, HCA ended the fourth quarter of 2018 with a $1.1 billion profit. That's compared to the fourth quarter of 2017, when the company recorded a profit of $474 million.

5. Looking at full-year 2018 results, HCA recorded a profit of $3.8 billion on revenue of $46.7 billion. In 2017, HCA reported a profit of $2.2 billion on revenue of $43.6 billion.

More articles on healthcare finance:

HCA ups debt sale to $1.5B
2 California hospitals face closure if sale delayed
Vermont hospital backtracks on questionable bills

 

 

 

 

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months