1. The third-quarter operating income was down 4.1 percent from the $1.7 billion HCA reported in the third quarter of 2022.
2. Revenues in the third quarter totaled $16.21 billion, compared to $14.97 billion in the third quarter of 2022, while expenses hiit $14.58 billion, up from $13.27 billion. Third quarter results include revenues of $397 million and other operating expenses of $195 million related to the Florida directed payment program year that ended Sept. 30.
3. Most aspects of HCA’s business in the third quarter were positive, “including continued solid demand for our services, which translated into strong revenue growth,” according to CEO Sam Hazen. “However, our results were unfavorably impacted by our Valesco physician staffing joint venture, which performed below our expectations,” he said.
4. Year over year for the third quarter, same facility admissions increased 3.4 percent while same facility equivalent admissions increased 4.1 percent. Same facility emergency room visits rose 3.5 percent, same facility inpatient surgeries were up 1.6 percent, and same facility outpatient surgeries increased 0.9 percent.
5. For the nine months ending Sept. 30, HCA revenues totaled $47.67 billion and expenses hit $42.30 billion, compared to $44.74 billion and $39.46 billion, respectively, in the same period in 2022. Net income hit $3.64 billion, up slightly from $3.56 billion in the prior-year period. ,
6. As of Sep. 30, 2023, HCA’s balance sheet reflected cash and cash equivalents of $891 million, total debt of $39.35 billion and total assets of $54.59 billion. In the third quarter, capital expenditures totaled $1.15 billion, excluding acquisitions. Cash flows provided by operating activities totaled $2.48 billion, compared to $3.02 billion in the third quarter of 2022.
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