Louisville, Ky.-based Kindred Healthcare, a post-acute services provider, posted consolidated revenues of $1.24 billion for the third quarter of this year, up 6 percent from the $1.18 billion Kindred recorded for the third quarter of 2013.
One of the primary drivers of the increase in revenue was improved hospital volumes, with same-facility admissions increasing by 3 percent in the third quarter of this year compared to the same quarter of 2013.
However, even with volume growth, Kindred recorded a $4.36 million loss, which is an improvement from the $106.99 million loss the company posted for the third quarter of 2013.
Based on its third-quarter financial results, Kindred narrowed its guidance for income for continuing operations for 2014 to between $59 million and $65 million.
"We are very pleased with our operating and financial results for the third quarter of 2014, which were in line with our expectations and reflect further progress in delivering on our promise to provide hope, healing and recovery to the patients we serve," said Paul J. Diaz, CEO of Kindred.
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