LifePoint's profit sinks 30% in Q3

Brentwood, Tenn.-based LifePoint Health's net income dipped 30 percent in the third quarter of this year as patient volume declined.

LifePoint recorded revenues of $1.58 billion in the third quarter of this year, down slightly from $1.59 billion in the same period of the year prior.

LifePoint's financials were impacted by lower patient volume in the most recent quarter. The company said admissions, inpatient surgeries, outpatient surgeries and emergency room visits all declined year over year in the third quarter of this year.

After factoring in expenses, LifePoint ended the third quarter of 2017 with net income of $27.5 million, down 30 percent from net income of $39.5 million in the same period of 2016.

LifePoint Chairman and CEO William F. Carpenter III was pleased with the company's overall performance.

"Excluding the four hospitals that represent our 2016 acquired class, the balance of our portfolio performed well in the face of industry-wide headwinds," he said. "Although the timing of the results we will achieve in the 2016 class has shifted, I remain excited about their opportunities for growth. We are confident that through the continued execution of our strategy, we will drive enhanced shareholder value while continuing to provide our communities high quality care."


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