HCA profit rises 17% on higher admissions

Nashville, Tenn.-based HCA Holdings said revenues increased to $10.2 billion in the first quarter of fiscal year 2016, up 6 percent from $9.7 billion in the same period the year prior.

The financial boost was largely attributable to patient volume growth. HCA said inpatient admissions and emergency department visits increased in the first quarter, rising 1.8 percent and 7.6 percent, respectively.

The hospital operator also reported a jump in inpatient and outpatient surgery cases. There was particularly strong growth in cardiovascular and orthopedic procedures, Sam Hazen, COO of HCA, said on an earnings call.

HCA ended the first quarter with net income of $694 million, up 17.4 percent from $591 million in the same period of 2015.

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