How CHS, Tenet, HCA and UHS fared in Q2

Major for-profit hospital operators saw their net income rise year over year in the second quarter of this year. 

1. Franklin, Tenn.-based Community Health Systems' revenues dropped 23.7 percent year over year in the second quarter of 2020. The decline was due to a decline in patient volume. On a same-facility basis, admissions were down 18.1 percent year over year, with the most significant volume declines in April due to the to COVID-19 pandemic. The company ended the second quarter of this year with net income of $70 million, compared to a net loss of $167 million in the same period a year earlier. In the three months ended June 30, CHS received $564 million in relief aid made available under the Coronavirus Aid, Relief and Economic Security Act.

2. Nashville, Tenn.-based HCA Healthcare posted revenues of $11.07 billion in the second quarter of this year, down 12 percent from the same period a year earlier. Same-hospital admissions declined nearly 13 percent year over year. HCA ended the second quarter of this year with net income of $1.08 billion, up from $783 million in the same period a year earlier. In the three months ended June 30, HCA recorded $822 million in stimulus income from the federal government made available under the CARES Act. 

3. Dallas-based Tenet Healthcare reported revenues of $3.6 billion in the second quarter of this year, down from $4.6 billion in the same period of 2019. Revenues from the company's hospital operations were down 19.3 percent year over year due to a decline in patient volumes as a result of the COVID-19 pandemic. Tenet ended the second quarter of 2020 with net income of $88 million, compared to net income of $26 million in the same period last year. The company's net income in the second quarter of this year included $523 million in federal grants made available under the CARES Act. 

4. King of Prussia, Pa.-based Universal Health Services recorded revenues of $2.7 billion in the second quarter of 2020, down from $2.9 billion in the same period last year. The company said patient volume dropped significantly in April but began to rebound in May and June. UHS ended the second quarter of this year with net income of $251.9 million, up from $238.3 million a year earlier. The company received about $218 million in relief aid made available under the CARES Act. 

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