Five details:
1. The 182-hospital, for-profit system saw a net income of $1.13 billion in the quarter ended Sept. 30, down from $2.27 billion over the same period last year.
2. The third-quarter results include Hurricane Ian’s impact, primarily at the system’s Florida facilities, causing additional expenses and lost revenues estimated at $35 million, according to the report. That amount is before any potential insurance recoveries.
3. “Despite a difficult comparison to the prior year due to the COVID-19 delta variant, we are pleased with our results and the execution of our teams in a challenging operating environment, which included tremendous efforts from our courageous front-line caregivers and support teams who worked tirelessly to provide uninterrupted care during Hurricane Ian,” HCA CEO Sam Hazen said in the report.
4. For the nine months ended Sept. 30, HCA’s net income was $3.56 billion on $44.74 billion in revenues. That is compared to a net income of $5.14 billion on $43.69 billion in revenues over the same period last year.
5. Results for the first nine months of 2022 included losses of $25 million on the sales of facilities. Results for the first nine months of 2021 included gains on facility sales of $1.1 billion.
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.