Nashville, Tenn.-based HCA Healthcare has reported “16 consecutive quarters of volume growth,” highlighting the strength of its diversified network of markets and services, CEO Sam Hazen said July 25 during the company’s second-quarter earnings call.
The for-profit health system reported a 1.7% year-over-year increase in equivalent admissions for the second quarter and a 2.3% rise year-to-date. YTD managed care equivalent admissions — including the exchanges — increased 4%, in line with HCA’s expectations, according to CFO Mike Marks. Medicare grew 3%, slightly below the company’s expectations.
Mr. Hazen noted that 14 out of 15 HCA divisions grew their admissions while 14 out of 15 domestic divisions grew their adjusted admissions for the quarter.
“Our cardiac procedure volume was up 5%, our obstetrics volumes were up 3%, neonatal volumes up 13%,” Mr. Hazen said. “So the details … reflect the power of a diversified portfolio of markets and services.”
HCA’s consistent growth, quarter after quarter, highlights the payoff of its continued investment in network development and market execution, according to Mr. Hazen.
“That consistency tells us that the network model we’re investing in very heavily — and we’re focused around execution on it — allows us to compete effectively,” Mr. Hazen said. “It [has] allowed us to sustain market share gains, and we think it adds value for our patients, for our physicians and … for our shareholders.”
“The [equivalent admissions] number is 1.7% but when you look underneath it, the productive and qualitative aspects of it are more impactful than maybe first understood,” he added.
