Health Management Associates' Revenue, Income up in 3Q

Health Management Associates, based in Naples, Fla., reported net revenue of $1.4 billion in the third quarter of fiscal year 2011, up 12 percent from the same quarter last year, according to an HMA news release.

Net income attributable to HMA was $43.7 million, up 23.9 percent from the same quarter last year.

Through the nine months ended on Sept. 30, 2011, HMA recorded net revenue of $4.2 billion, up 12.7 percent from 2010. Net income attributable to HMA through the first three quarters of 2011 was $147.9 million, up 21.3 percent from 2010.

HMA President and CEO Gary Newsome said the for-profit hospital operator's growth could be attributed to the progress in their emergency room operations, physician recruitment and market service development at both same-hospital and recently acquired facilities, including Knoxville, Tenn.-based Mercy Health Partners.

Other third quarter metrics include the following:

•    Bad debt expense was $178.9 million, or 12.8 percent of HMA's net revenue.
•    Admissions increased 4.9 percent from last year, and adjusted admissions increased 7.6 percent. Same hospital admissions increased 0.8 percent.
•    Same hospitals surgeries increased 0.2 percent.

Related Articles on Hospital Finance:

Catholic Healthcare West's Revenues Up 12% for FY 2011
SunLink Health Systems Loses $8.9M in Q4
HCA: Decline in Heart Surgeries Led to Low 2Q Postings

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